FundeK Posted April 15, 2004 Posted April 15, 2004 We are being asked to cut a check to pay UBTI tax today. Is it okay to pay this tax with plan assets?
FundeK Posted April 15, 2004 Author Posted April 15, 2004 False alarm!! I was just informed that it has to be paid from the Trust. Now, don't I feel silly!
ljr Posted April 15, 2004 Posted April 15, 2004 Speaking of UBTI, do any of the accountants out there know who properly files the 990-T? The Trustee or the Plan Sponsor? We have two plans that have this tax and for one the Plan Sponsor has always filed the 990-T, paid the tax and requested reimbursement from the Trust. For the other plan, the Trustee has always filed the return and paid the tax directly from the Trust.
Kirk Maldonado Posted April 16, 2004 Posted April 16, 2004 What do the instructions to the Form 990-T say? Kirk Maldonado
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