UBTI and UBIT in IRAs and Qualified Plans: Identifying Unrelated Business Taxable Income and Avoiding UBTI Tax Traps
Recording of a 110-minute CPE webinar with Q&A
This course will give nonprofit tax professionals and advisers a thorough guide to recognizing and reporting unrelated business taxable income (UBTI) about IRAs, qualified plans and other retirement accounts. The webinar will focus on the standards and guidelines for determining whether income derived from assets held by a qualified plan is UBTI subject to tax and provide a detailed exploration into calculating UBTI and reporting the resulting unrelated business income tax.
Outline
- UBTI generating assets in IRAs and other qualified plans
- Self-directed IRA reporting
- IRA trusts and other vehicles holding UBTI assets
- Identifying and calculating UBTI
- Filing Form 990T
Benefits
The panel will discuss these and other important topics:
- What assets and structures will generate UBTI?
- How do MLPs held by an IRA impact UBTI reporting and payment requirements?
- What are the estimated payment rules for qualified plans with unrelated business income tax liabilities?
- Unrelated debt-financed income rules and treatment of qualified plan assets financed by debt
- What factors should account holders be especially aware of in cases where the plan holds UBTI-generating assets?
Faculty
William M. Funk
Attorney
Law Office of William M. Funk
Mr. Funk focuses his practice on tax law, with extensive experience in tax planning and dispute work. He... | Read More
Mr. Funk focuses his practice on tax law, with extensive experience in tax planning and dispute work. He represents individuals, businesses, funds and non-profit organizations. He successfully represents clients before federal and state tax authorities and in business negotiations. He counsels clients regarding structuring investments and developments by nonprofits to avoid exposure to unrelated business income tax. He has also been published in leading tax publications on a wide array of tax issues ranging from taxation of real estate developments to international tax policy.
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Bill Humphrey
Co-founder and CFO
New Direction Trust Company
Mr. Humphrey is recognized in the industry as an expert in self directed IRAs, HSAs and other tax-advantaged accounts,... | Read More
Mr. Humphrey is recognized in the industry as an expert in self directed IRAs, HSAs and other tax-advantaged accounts, as well as the IRS codes pertaining to these investments. He has taught courses on retirement plan investment rules to investors, CPAs and investment professionals through a variety of venues including the University of Denver School of Law. An experienced CPA, he has focused on income tax, auditing, tax-related real estate issues and forensic accounting for more than 20 years. His tax experience has been instrumental in understanding and teaching about IRAs and debt leverage. He is well versed in IRA law and current with all legislation governing tax advantaged plans.
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James A. Jones
Founder
The IRAeXchange
Mr. Jones is a licensed financial professional with over 20 years experience in retirement planning and wealth... | Read More
Mr. Jones is a licensed financial professional with over 20 years experience in retirement planning and wealth preservation. He is a nationally-recognized speaker and author, and has written extensively on self-directing retirement topics. Mr. Jones has been featured regularly in the Wall Street Journal, Reuters, and Dow Jones Market Watch, in addition to numerous online sources. He is also recognized as an expert in the cutting-edge field of crowd-funding.
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