Table payments between the plan and parties in interest
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- From the accounts the lawyer supplies, list each payment or transfer, the other party, and whether the file calls that party a party in interest. Do not decide that a payment is prohibited.
- What the lawyer must review
- Except as section 1108 provides, 29 U.S.C. § 1106(a)(1) forbids a fiduciary who knows or should know to cause the plan to sell, lease or exchange property with a party in interest, to lend or extend credit, to furnish goods, services or facilities, or to transfer or use plan assets for a party in interest. Section 1106(b) forbids self-dealing, acting for an adverse party, and receiving personal consideration. Section 1106(c) treats some transfers of mortgaged property as a sale. Section 1108 was not opened, so do not name an exemption. You decide whether a row is a prohibited transaction.
- Written for / version
- United States versionUSCth
Who does what
| Role | What they do |
|---|---|
| Assistance | Consider narrowly defined preparation support after confirming the tool’s capability and permitted scope. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Trace every relied-on figure to its source, confirm dates and assumptions, and independently recalculate totals or derived amounts.
- Review operative clauses in the complete document, including definitions, cross-references, schedules and inconsistencies with the instructions.
- Confirm the output against the client’s instructions and the complete relevant source material, including omissions or contradictions.
- Resolve exceptions and record the responsible lawyer’s approval of the exact output and intended use.