FINAL SPLIT DOLLAR REGSFINAL SPLIT DOLLAR REGS
Charles Ratner of Ernst & Young reports: Well, now we have them. On Sept. 11, the Treasury Department and Internal Revenue Service issued the final split dollar regulations. If these regs look familiar, it's because they're a virtual composite of the two sets of proposed regulations put forth in 2002 and 2003. Pending a closer inspection of what the government has wrought, here's a quick look at what
October 1, 2003
Rorie M. Sherman Editor in Chief
Charles Ratner of Ernst & Young reports:
Well, now we have them. On Sept. 11, the Treasury Department and Internal Revenue Service issued the final split dollar regulations. If these regs look familiar, it's because they're a virtual composite of the two sets of proposed regulations put forth in 2002 and 2003. Pending a closer inspection of what the government has wrought, here's a quick look at what the final regulations do, what they don't do, and most importantly, what planners should be doing in their wake.
The regulations apply to split dollar plans entered into after Sept. 17, 2003, as well as to any pre-Sept. 17 plans that are materially modified after that date. As expected, the regulations leave tra...
Unlock All Access Premium Subscription
Get Trusts & Estates articles, digital editions, and an optional print subscription. Choose your subscription now and dive into expert insights today!
Already Subscribed?
