Central Pension Fund of the IUOE
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Carpenter Morse Group
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Nicholas Pension Consultants
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Retirement Plan Legal Specialist Pentegra
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Retirement, LLC
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Central Pension Fund of the IUOE
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Jr Retirement Plan Administrator/ Administrative Assistant Hochheiser Deutsch & Co, Inc.
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Prime Pensions, Inc.
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Defined Benefit Calculation Specialist/Actuary The Angell Pension Group, Inc.
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Nova 401(k) Associates
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Bates & Company
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Retirement Plan Relationship Manager ERISA Services, Inc.
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Compass Retirement Consulting Group, Inc.
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Trucker Huss, A Professional Corporation
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United 401(k) Plans, Inc.
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Question 167: If a trust owns an corporation, do the attribution rules for purposes of Sections 318 and 1563 depend on whether the trust is a grantor trust? If so, how is a grantor trust determined? |
Answer: Yes, they do. IRC 676 says a revocable trust is a grantor trust. Thus, all trusts are grantor trusts while the grantor is alive unless the trust is irrevocable. |
Answers are provided as general guidance on the subjects covered in the question and are not provided as legal advice to the questioner or to readers. Any legal issues should be reviewed by your legal counsel to apply the law to the particular facts of this and similar situations.
The law in this area changes frequently. Answers are believed to be correct as of the posting dates shown. The completeness or accuracy of a particular answer may be affected by changes in the law (statutes, regulations, rulings, court decisions, etc.) that occur after the date on which a particular Q&A is posted.
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