Appleby
Jan 3 2003, 10:31 AM
Please see Rev Rul attached
mab
Jan 21 2003, 06:39 PM
My reading of this, particulary the appendix, indicates that deemed IRAs cannot be adopted by plans that are trusteed by individuals which cuts out a large segment of the plan population.
Does anybody agree or disagree?
Katherine
Jan 22 2003, 01:56 PM
My reading was that the model language couldn't be used by a plan trusteed by an individual.
But I would note that the Section 408 IRA rules generally require an individual retirement account to be trusteed by a bank and an individual retirement annuity to be issued by an insurance company.
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