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VEBA-Form 1024


Guest Sheila S
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Guest Sheila S

I have a situation with a VEBA in which a Form 1024 was filed within teh applicable time period (i.e, 15 months rule) and a dtermination leter was recieved recognizing teh VEBA's tax-exepmt staus. Now, teh VEBA is going to be amended (in conjunction with the plan it funds). Should we file a new 1024 to ensure that the tax-exepmt status of the VEBA remains intact after the changes?

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Technically, you should file one.

However, that same situation happened to me and I filed for a new determination letter. The IRS reviewer called me to ask why I filed an application for a new determination letter. He said you've already got one, why do you think you need another?

I think it is a fair characterization that the Exempt Organizations part of the IRS is very different from the Employee Plans part of the IRS on this issue.

Kirk Maldonado

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