Final Split Dollar Regs

[TCWalker]

The much anticipated final regs. are out, with a 09.17.03 effective date and maintaining the 12.31.03 sunset transition date.

Quoting the release: "The regulations provide tax rules that reflect the underlying economics of split-dollar life insurance arrangements,” stated Treasury Assistant Secretary for Tax Pam Olson. “Under these rules, companies cannot use split-dollar life insurance arrangements to provide tax-free compensation to their executives. By insuring that split-dollar arrangements are appropriately taxed, the regulations curb a backdoor form of executive compensation and promote greater transparency.”

Link:

http://www.ustreas.gov/press/releases/js726.htm

[Guest buxbaum2]

Is there one website that strictly focuses on Non Qualifed Comp plans? Thanks.

[TCWalker]

In addition to what we've discussed via e-mail, check-out the American Benefits Council site, under ISSUES, then Executive Compensation menu. There are some nice white papers, charts, legislative analysis etc. And, Clark Consulting maintains a web knowledge base you can access upon joining their mailing list. Good luck!

http://www.americanbenefitscouncil.org/