When rolling over an existing IRA to a Roth IRA, all of the following are true except

Arthur Beech turned 67 this year. Arthur has a split dollar plan with his employer, Seashore Rental Properties. Arthur could replace this split dollar plan with a DBO plan and reduce his expenditures for insurance while still retaining a death benefit.

When installing a DBO plan, the corporation is required to file a plan document with the government in addition to any ERISA reporting requirements.

Benefits paid to the employee’s beneficiary under a DBO plan are taxable in full to the beneficiary as ordinary income.

When rolling over an existing IRA to a Roth IRA, all of the following are true except

An employee who receives tax-free benefits under a dependent care plan also can use the dependent care tax credit on their personal tax return as long as legal maximums related to total dollar amount of dependent care are not exceeded.

Employee discounts can be offered only to active employees.

Harvest Cannery, Inc. has a number of employee benefits. Which of the following types of compensation would be exempt from the reporting and disclosure requirements of ERISA?

Arthur Beech turned 67 this year. Arthur has a split dollar plan with his employer, Seashore Rental Properties. Arthur could replace this split dollar plan with a DBO plan and reduce his expenditures for insurance while still retaining a death benefit.

Benefits paid to the employee’s beneficiary under a DBO plan are taxable in full to the beneficiary as ordinary income.