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(2) Disqualified person.--For
purposes of this section, the term
"disqualified person" means a person who
is—-
(A) a fiduciary;
* * * * * * *
(3) Fiduciary.--For purposes of this
section, the term "fiduciary" means any
person who—-
(A) exercises any
discretionary authority or
discretionary control respecting
management of such plan or
exercises any authority or
control respecting management or
disposition of its assets,
* * * * * * *
(f) Other Definitions and Special Rules.--For
purposes of this section—-
* * * * * * *
(2) Taxable period.--The term "taxable period"
means, with respect to any prohibited transaction,
the period beginning with the date on which the
prohibited transaction occurs and ending on the
earliest of—-
(A) the date of mailing a notice of
deficiency with respect to the tax imposed
by subsection (a) under section 6212,
(B) the date on which the tax imposed
by subsection (a) is assessed, or
(C) the date on which correction of
the prohibited transaction is completed.
(3) Sale or exchange; encumbered property.--A
transfer of real or personal property by a
disqualified person to a plan shall be treated as a
sale or exchange if the property is subject to a
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Last modified: May 25, 2011