Question: The IRS caught the plan trustee for Hopper Manufacturing violating the prohibited transaction rules. Hopper Manufacturing must pay an initial penalty equal to 5 percent

The IRS caught the plan trustee for Hopper Manufacturing violating the prohibited transaction rules. Hopper Manufacturing
must pay an initial penalty equal to 5 percent of the amount involved.
must pay a 100 percent penalty if the transaction is not corrected within time limits set by the IRS.
may face penalties for breach of fiduciary responsibility.
all of the above.
only a and b.
The IRS caught the plan trustee for Hopper

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