Self-Dealing: Tales from the Trenches (Completed)

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The self-dealing rules come as a surprise to many private foundations. Transactions that seem innocent can often leave the foundation and its disqualified persons with a mess to clean up. Join us for a deep dive into the world of self-dealing. We will cover who is a disqualified person, the specific acts of self-dealing and common exceptions to the rules. Time will also be spent walking through several real-life case studies to show how the best intended transactions can yield negative results. Last, we will cover the reporting requirements when self-dealing occurs and recommended strategies to ensure it doesn’t happen again.

Who Should Attend
TBD

Topics Covered

• Identification of interested persons and self-dealing transactions
• Common exceptions to self-dealing
• Overview of Form 4720 and actions required to correct a self-dealing transaction
• Preventative strategies to prevent self-dealing in the future

Learning Objectives

• Identify all disqualified persons of the foundation and put measures in place to prevent self-dealing transactions
• Recognize when a self-dealing transaction occurs and know appropriate steps to correct the transactions
• Understand mitigation strategies a foundation can implement to prevent self-dealing transactions

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None