Guest friedbrain Posted March 18, 1999 Posted March 18, 1999 For purposes of Sec. 415, is "compensation" for U.S. employees of a foreign affiliate calculated differently if wages are partially or fully paid in foreign currency? Sec. 406(B)(2) provides that "compensation" for purposes of Sec. 401(a)(5) includes "all remuneration" which suggests that wages paid both in foreign and US currency is considered compensation. Any thoughts?
Guest friedbrain Posted March 18, 1999 Posted March 18, 1999 I've found the answer/confirmation through legislative history of Sec. 406. Compensation includes wages in the form of foreign currency which must be valued according to current law.
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