Bruce Molnar settles with IRS, pays penalties for 831(b) promotion

Bruce Molnar, co-founder and majority owner of Alta Holdings, LLC , U.S. Risk Associates Insurance Company Limited, and Newport Re, Inc, has reached a settlement with the Internal Revenue Service.

The settlement concerns Molnar’s activities in promoting micro captive arrangements from 2005 to 2012. He will pay penalties under I.R.C. § 6700.