Series 65: Prohibited Transactions

Taken from our Series 65 Online Guide

Prohibited Transactions

Under ERISA, certain types of investments and transactions are limited in qualified plans. These limitations help reduce the risk that employees will find themselves invested in an illiquid or overly speculative investment or owning something that is subject to a risk of physical loss through theft, fire, etc.

In an employer-sponsored retirement plan, the following investments are prohibited:

• Collectibles (antiques, art, collectibles, etc.)
• Alcoholic beverages, such as vintage wine
• Precious metals that do not meet certain requirements

Further, certain transactions are prohibited. A prohibited transaction is a transaction between a plan and a disqualified person that is

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