The Fiduciary & Investment Risk Management Association, Inc.
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The Fiduciary and Investment Risk Management Association, Inc. (FIRMA) is the leading provider of current and relevant fiduciary and investment risk management education and networking opportunities to risk management professionals of banks, trust companies, investment advisors, broker-dealers, insurance companies and other providers of financial services. FIRMA has the objective of providing fiduciary risk managers with the tools and knowledge needed to perform their functions in the rapidly changing financial services landscape. Become a Member Today!

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28th Annual FIRMA National Risk Management Training Conference
Hilton Orlando Lake Buena Vista
Orlando, Florida
April 27-May 1, 2014

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CONFERENCE MATERIALS

NEW - 2012 FIRMA Training Videos - Announcing our ERISA Update video and more

2014 Conference Materials Posted
Posted: Sunday, Apr 20, 2014

Conference Materials are available here

FIRMA DIGEST ARCHIVES >>

Recent Tax Court Ruling on “ROBS” Transaction

In recent years, the idea of using rollover distributions from 401(k) plans to fund a business start-up – a so-called “ROBS” transaction – has been marketed as a way to access retirement savings for start-up capital while still maintaining tax-deferred treatment for the assets within an individual retirement account (“IRA”). However, a recent decision by the U.S. Tax Court suggests caution because these transactions may involve indirect prohibited transactions in violation of Section 4975 of the Internal Revenue Code (the “Code”), causing the IRA to lose its tax exemption. Financial institutions as trustees or custodians of IRAs may wish to take note of this risk.

By way of background, ROBS transactions occur in both the IRA and 401(a) qualified plan context.

MORE >>

FORUM ARCHIVES >>

Fiduciary Examiner - Federal Reserve Bank of Kansas City
Posted: February 26, 2014

Contact FIRMA to advertise your position.

FIRMA Strategic Partners

FIRMA is pleased to present a list of our Industry Partners:

FIRMA would like to thank our friends who sponsor our nationally recognized education and training programs. We would also like to thank our partner organizations who provide our members with additional resources that complement the training offered by FIRMA. The support of our sponsors and partner organizations is critical to our success in providing members with the quality training opportunities and networking forums they expect and demand.

Provided below are links to the websites of our current sponsors and partner organizations. We encourage all FIRMA members to visit these websites and to patronize these loyal organizations who serve FIRMA and our members so capably.

AMERICAN BANKERS ASSOCIATION

www.aba.com

ASSOCIATION OF CERTIFIED ANTI-MONEYLAUNDERING SPECIALISTS (ACAMS)

www.acams.org

ASSOCIATION OF CERTIFIED FRAUD EXAMINERS (ACFE)

www.acfe.org

CAMPBELL UNIVERSITY
TRUST EDUCATION FOUNDATION, INC.

www.trusteducationfoundation.com

CANNON FINANCIAL INSTITUTE

www.cannonfinancial.com

GLOBAL ASSOCIATION OF RISK PROFESSIONALS (GARP)

www.garp.org

SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATION - INTERNAL AUDIT SOCIETY

www.sifma.org

INDUSTRY NEWS

FCC Easing Up on 'Net Neutrality'
WSJ.com: US Business 24 April 2014, 8:53 am

Stock futures point to higher open on tech results - Reuters
Business - Google News 24 April 2014, 8:50 am

Ex-Wal-Mart CEO's deferred pay: $140 million - Detroit Free Press
Business - Google News 24 April 2014, 8:40 am

What Does General Electric Want From Alstom? - Bloomberg
Business - Google News 24 April 2014, 8:39 am

Apple, Facebook results buoy world shares - Reuters
Business - Google News 24 April 2014, 8:39 am

TABLE-US March durable goods orders rise 2.6 pct - Reuters
Business - Google News 24 April 2014, 8:35 am

Draghi Prepares Ground for ECB Bond Purchases If Needed - Bloomberg
Business - Google News 24 April 2014, 8:31 am

United Loses $609M in 1Q; Fares Don't Cover Costs - ABC News
Business - Google News 24 April 2014, 8:28 am

GM posts lower first-quarter profit after recall costs - Fox Business
Business - Google News 24 April 2014, 8:15 am

MORE INDUSTRY NEWS >>

General Trust Discussion: Cost basis reporting for Debt Instruments Chief Fiduciary Officer posted on December 4, 2013, 7:28 pm:
We are in the process of determining our default position for how to treat bond premiums and discounts. We are considering amortizing/accreting them for agency accounts and just amortizing the premium but not accreting the discount for trust accounts. Was wondering what other institutions are doing. Thanks

Visit the discussion forum to exchange ideas with your peers today! >>