What is the process for termination? Is there a formal process for paying excess assets (i.e. a certain method for paying such excess assets)? I gather that one would have to pay in accordance with Trust and Treas. Reg. 1.501(c)(9)-4; have sponsor adopt termination (is that termination of plan or VEBA); and file final Form 990 and 5500.
Any thoughts on this process? Thanks.
Full Version: Termination of VEBA
QUOTE (mary22 @ Oct 1 2009, 02:10 PM) 
What is the process for termination? Is there a formal process for paying excess assets (i.e. a certain method for paying such excess assets)? I gather that one would have to pay in accordance with Trust and Treas. Reg. 1.501(c)(9)-4; have sponsor adopt termination (is that termination of plan or VEBA); and file final Form 990 and 5500.
Any thoughts on this process? Thanks.
Any thoughts on this process? Thanks.
Also, check the VEBA document for what it provides about how to apply excess assets upon termination.
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