Randy Watson Posted July 8, 2010 Share Posted July 8, 2010 A collateral assignment split dollar agreement is terminating due to termination of the employee's retirement. The employer is going to forgive the debt owed (for the premium payments) and release the collateral. I assume a simple document releasing the collateral and forgiving the debt is appropriate, but isn't the collateral assignment filed with the insurance company? Would something need to be filed with the insurer? HELP! Link to comment Share on other sites More sharing options...
XTitan Posted July 9, 2010 Share Posted July 9, 2010 Generally the carrier has a form that needs to be signed by the parties involved. - There are two types of people in the world: those who can extrapolate from incomplete data sets... Link to comment Share on other sites More sharing options...
Mark Whitelaw Posted July 9, 2010 Share Posted July 9, 2010 Request a "Release of Assignment" form from the insurance company. Separately, the forgiven debt amount is added to the individual's compensation. Link to comment Share on other sites More sharing options...
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