ERISA Prohibited Transactions

Summary

This practice note addresses the prohibited transactions rules of the Employee Retirement Income Security Act of 1974 (ERISA) and the similar rules under the Internal Revenue Code (IRC). Practitioners, plan service providers, and plan fiduciaries can use the practice note in identifying prohibited transactions and parties in interest under ERISA (disqualified persons under the IRC) who may be in a position to exercise improper influence over a transaction involving an employee benefit plan governed by ERISA.