IRS treats transfer of employees to successor employer as separation from service for purposes of qualified plan distribution rules
Article Abstract:
The IRS ruled that an employer may make distributions from a qualified plan and obtain separation of service from employees who are discharged from a subsidiary and subsequently transferred to a successor employer. The IRS based its ruling on the fact that the move did not involve an attendant transfer of assets, stocks or liabilities and that the companies involved were neither merged, consolidated nor liquidated. Additionally, the IRS noted that ownership of the involved parties remained unchanged and that their operations remained unrelated.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1993
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IRS finalizes regulations for eliminating pre-retirement distribution option after age 70 1/2 and includes new plan amendment deadline for union plans
Article Abstract:
IRS final regulations concerning pre-retirement employee qualified plan distributions of options under IRC section 411(d)(6) were issued in June 1998. The regulations were issued in accordance with the Small Business Job Protection Act of 1996's elimination of required distributions to employees when they reach age 70 1/2. Conditions set forth in the three part test of the proposed regulations must be met.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1998
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Plan distribution made in part of employer securities and cash to an individual and to an IRA is a lump sum distribution
Article Abstract:
This article concerns IRS private letter rulings 199928031 through 199928034 which treat as lump sum distributions from qualified retirement plans, employer distributions of securities and cash partly to individuals and partly to IRAs. The IRS did not consider distributions to IRAs as being fatal. Such treatment is beneficial in allowing nonrecognition of gain on appreciated securities.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1999
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- Abstracts: PBGC grants small employers temporary relief from reporting missed quarterly contributions for 1997. Taxpayers prevail in small plan audit cases
- Abstracts: IRS approves changes in asset valuation method and software for defined benefit plans. PBGC proposes changes in plan benefit valuation rules for single-employer and multiemployer plans after mass withdrawal
- Abstracts: IRS provides guidance and forms on SIMPLE plans. Notice 98-2 provides guidance on taxation of annuities from qualified plans
- Abstracts: Using the Uniform Transfers to Minors Act - a primer for life insurance companies and professionals. Overview of the Life Insurance Illustrations Model Regulation
- Abstracts: Lawyers target poor security; juries punish property owners for crimes on their premises. Punish after acquittal? Yes!