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Death Benefit - Reportable on 1099R?


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Union employees participate in a program where they contribute (after tax) to a death benefit fund. Upon the union ee's death, the surviving spouse rec'd a death benefit. Is this reportable on 1099R. There is no "formal" plan and it is not life insurance. Thanks.

QPA, QKA

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Guest Mr. Kite

If this is an ERISA plan, this may, in fact, constitute excludable life insurance benefits under IRC 101(a) -- ERISA preempts state law insurance rules, so a loosy-goosy "federal common law" definition of "insurance contract" is used. See PLR 200002030 and 199921036.

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