What is a disqualified person for purposes of the prohibited transaction rules?
A disqualified person is any of the following: (1) a fiduciary of the plan; (2) a person providing services to the plan; (3) an employer, any of whose employees are covered by the plan; (4) an employee organization, any of whose members are covered by the plan; (5) any direct or indirect owner of 50% or more of any of the following: • the combined voting power of all classes of stock entitled to vote, or the total value of shares of all classes of stock of a corporation that is an employer or employee organization described in (3) or (4); • the capital interest or profits interest of a partnership that is an employer or employee organization described in (3) or (4); or • the beneficial interest of a trust or unincorporated enterprise that is an employer or an employee organization described in (3) or (4); (6) a member of the family of any individual described in (1), (2), (3), or (4) (i.e., the individual’s spouse, ancestor, lineal descendant, or any spouse of a lineal descendant); (7)
