Additional Tax and Planning Considerations Applied Knowledge
Life Insurance
Transfer for value and reportable policy sale regulations (BB12407)
Although a life insurance death benefit is generally received tax free, care must be taken that a transfer for value of the policy or a reportable policy sale does not trigger a different result. This piece explains the transfer for value rule, reportable policy regulations (following the Tax Cuts and Jobs Act in 2017), and outlines various exceptions that may apply.
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Transfer for value and reportable policy sale regulations Q&A (BB12408)
Offers detailed answers to questions about transfer for value and reported policy sales.
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Transfers of life insurance policies after TCJA 2017 (BB12289)
Life insurance contracts are subject to the transfer of value rule, which sometimes eliminates the benefit of tax-free death proceeds following a nonqualifying policy transfer. An exception to the transfer of value rule was created by the Tax Cuts and Jobs act of 2017 for “reportable policy sales”.
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Nonqualified deferred compensation
Sarbanes-Oxley reporting for deferred comp plans (BB10130)
Sarbanes-Oxley reporting requirements for deferred comp plans.
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Deferred comp issues for entities with ESOPs (BB10923)
Outlines how having an employee stock ownership plan (ESOP) in place can influence plan design and financing.
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Deferred comp and REITS (BB10137)
Nonqualified deferred comp and real estate investment trusts (REITS).
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Effect of deferred comp on Social Security Benefits (BB11173)
Understand how earned income can affect Social Security benefits.
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Section 199A deduction clarification (BB12244)
Explains proposed regulations that clarify how the Section 199A deduction applies to financial professionals and service businesses.
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Impact of proposed regulations under Section 162(m) (BB12414)
On Dec. 20, 2019, the Treasury Department published proposed regulations under IRC Section 162(m), providing additional guidance for changes made by the Tax Cuts and Jobs Act of 2017.
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SEC reporting and deferred comp (BB10924)
Regulations regarding disclosure rules for publicly traded companies with deferred comp plans.
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Insurance products issued by Principal National Life Insurance Co. (except in NY), Principal Life Insurance Company®, and the companies available through the Preferred Product Network, Inc. Plan administrative services offered by Principal Life. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Referenced companies are members of the Principal Financial Group®, Des Moines, IA 50392. For financial professional use only. Not for public distribution.
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