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Guest Iwonder

Death Benefits Paid by a VEBA

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Guest Iwonder

A non-participant received a death benefit from a VEBA.

Despite alot of research, the following questions remain:

1. Death benefits from VEBAs are non-taxable to the recipient/beneficiary, is that correct?

2. Should the beneficiary receive a 1099-Misc in the amount of the benefits? Or, would some other variation of 1099 be more appropriate?

3. Should the IRS receive any Form disclosing the distribution of the death benefits (Form 1096)? And, if so, what IRS Form should the distribution be reported to the IRS?

Any and all guidance from VEBA experts would be greatly appreciated, and gratefully applied.

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