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Section 83


Guest Lex

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Section 83 applies to any transfer of property (other than cash) to an employee or independent contractor on account of the performance of services from a plan that does not meet the requirements of IRC 401(a) or 403(B) if the property is not subject to a substantial risk of forfeiture. Property includes cash value of life insurance, annuities, stock or an interest in a irrevocable trust. The property is subject to ordinary income tax and FICA tax as well as state taxes. There are extensive regulations on Section 83 as well as IRS plrs.

mjb

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