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Transfers from a Qualified Plan to a Foreign Trust - IRS Guidance and Relief
Deloitte via BenefitsLink 
[Guidance Overview] July 28, 2008
Excerpt: IRS recently ruled that a transfer from a plan qualified under IRC § 401(a) to a nonqualified foreign trust constitutes a taxable distribution. However, the administrator of a plan created in Puerto Rico is permitted to make an election under ERISA § 1022(i)(2) to have Title II apply (i.e., to apply the requirements for minimum participation, vesting, funding, etc.). If such an election is made, the plan is considered qualified and transfers to the plan will not be treated as a distribution even though the trust continues to be classified as a foreign trust. Revenue Ruling 2008-40.
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