goldtpa Posted April 6, 2007 Posted April 6, 2007 Have a new client with a $1 million life insurance policy in the DB Plan. However the max Death Benefit is about 200,000. How do you calculate the excise tax on the 5330? Is the excise tax calculated on the premium amount that represents the excess death benefit? Normally the excess contribution is not dedeuctible. However if the client pays the premium from the assets of the plan, do they still lose the tax deduction?
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now