Finanse publiczne · 3.01.1995

Excise Tax On Self-Dealing By Private Foundations.

This document contains proposed amendments to the regulations that define self-dealing by private foundations. The proposed amendments modify the application of the self-dealing rules to the provision by a private foundation of director's and officer's liability insurance to disqualified persons. These amendments provide that indemnification by a private foundation or provision of insurance for purposes of covering the liabilities of the person in their capacity as a manager of the private foundation is not self-dealing. Additionally, the amounts expended by the private foundation are not included in the compensation of the disqualified person for purposes of determining reasonable compensation of the disqualified person.