Joseph R. Rollins - Page 4

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               When the petition was filed in the instant case, petitioner            
          resided in Atlanta, Georgia.                                                
               Petitioner is a certified public accountant and a registered           
          investment adviser; also, he holds various certifications in the            
          area of financial planning and investment managing, including               
          certified employee benefits specialist, certified financial                 
          planner, and charter financial consultant.                                  
          1.  The Plan                                                                
               Petitioner owns 100 percent of Rollins & Associates, P.C., a           
          certified public accounting firm, hereinafter sometimes referred            
          to as Rollins.  Rollins has a section 401(k) profit-sharing plan,           
          known as Rollins & Associates, P.C. 401(k) Profit Sharing Plan              
          hereinafter sometimes referred to as the Plan.  The Plan’s                  
          predecessor dates back at least to 1985.                                    
               At all times relevant herein, the Plan was tax-qualified               
          under section 401(a), and the Plan’s underlying trust was exempt            
          from tax under section 501(a).                                              
               Rollins has been the sole trustee under the Plan since 1985.           
          The trustee is responsible for the following items, as well as              
          other items listed in the Plan’s governing instrument:                      
          investing, managing, and controlling the Plan’s assets (subject             
          to the direction of an investment manager if the trustee appoints           
          one); paying benefits required under the Plan at the direction of           
          the administrator; and maintaining records of receipts and                  




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Last modified: May 25, 2011