Guest Lex Posted January 2, 2003 Posted January 2, 2003 Does anyone have info on a Section 83 Plan- my understanding is that it is a type of non-qual plan
E as in ERISA Posted January 2, 2003 Posted January 2, 2003 Section 83 governs the taxation of property transfers -- so the reference is probably being used in reference to a restricted stock plan or stock option plan.
mbozek Posted January 2, 2003 Posted January 2, 2003 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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