5310-A filing for Spinoff and Transfer

[Guest bobolink]

nothing seems to fit. Some questions:

1. I read the instructions to 5310-A to require that present value of assets spun off is not less than the present value of benefits spun off and de minimus to be exempt from filing. I consistantly read others who advise that satisfying one or the other is is enough. What's right?

2. The 5310-A is required 30 days "prior to merger, consolodation, spinoff or transfer of plan assets ... " Is that 30 days prior to the spin-off date specified in the agreement (the closing date), or is it the date of actual transfer? It seems unlikely data will be available on closing date.

Thanks.

[J Simmons]

1. I think for the exemption you must meet both: (a) the present value of assets spun off is not less than the present value of benefits spun off, and (b) the 3% de minimis rule.

2. If you have to file the F5310-A, I think to be timely you should file at least 30 days before either the document specified effective date or the transfer of any assets to effectuate the spin-off.