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|IRS Issues Final Regs on Funding for Single-Employer Pension Plans|
Sept. 18, 2015
"Under the proposed regulations, liquidity shortfalls could only be corrected through contributions, and the excise tax would apply for every quarter until the liquidity shortfall for a quarter was corrected through contributions. The final regulations provide ... that a payment of the liquidity shortfall is treated as unpaid until the end of the quarter in which the due date occurs.... Accordingly, each quarter will stand on its own, and there will be a correction of an earlier liquidity shortfall if the plan has sufficient liquid assets at the end of a succeeding quarter so that there is no longer a liquidity shortfall."
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