IRS Advisory Opinion 2011-04A

This document is about an advisory opinion from the U.S. Department of Labor regarding the application of prohibited transaction provisions under Section 4975(c) of the Internal Revenue Code to a proposed transaction involving an individual retirement account (IRA) purchasing a promissory note and deed of trust where the IRA owner and spouse are the obligors. The Department concludes that this would be a prohibited transaction in violation of the Code.