CPA’s Guide to Life Insurance
Author/Moderator: Lance Wallach,
CLU, CHFC, CIMC
Below is an excerpt from one of Lance
Wallach’s new books.
If a client approaches you with one of these plans, be
especially cautious, for both of you.
Advise your client to check the promoter very carefully. Make it clear that the government has the
names of all former IRC §419A(f)(6) promoters and, therefore, will be scrutinizing
the promoter carefully if the promoter was once active in that area, as many
current IRC §419(e) (welfare benefit fund or plan) promoters were, thereby,
making an audit of your client far riskier and more likely.
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