We have a customer whose arrangement excludes fringe benefits from the definition of compensation under the 414(s) safe harbor alternate definition of compensation on an FT William record. Several of the points that the client believes are "fringe benefits" are not what I think is a fringe advantage. Neither the fostering agreement nor the base plan document specifies fringe benefit. FT William claims they can not give taxation advice.

You are watching: Treas. reg. § 1.414(s)-1

Treas. Reg. 1.414(s)1(c)(3) additionally mentions fringe benefits but fails to define that term.

Does anyone have an excellent reference that I can provide to my client?


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BG5150


Posted February 7, 2017

BG5150

Senior Contributor
Posted February 7, 2017

Does this help?

Publication 15-B (2017), Employer"s Tax Guide to Fringe Benefits

 


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K2retire


Posted February 7, 2017

K2retire

Senior Contributor
Author
Posted February 7, 2017

Perhaps I"m over thinking this. That offers great information about what benefits are taxable and just how to calculate the taxes. What I"m searching for is something that tells which of the taxable fringe benefits on that list can be excluded from plan compensation and still fulfill the 414(s) safe harbor.


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BG5150


Posted February 7, 2017

BG5150

Senior Contributor
Posted February 7, 2017

I would think every one of them. Neither the arrangement nor the regs say just some fringe benefits.


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1 year later...

ERISADC


Posted November 14, 2018

ERISADC

Registered
Posted November 14, 2018

A client has simply asked me whether the adhering to are "fringe benefits" for purposes of the safe harbor exclusions:

PTO cashouts for unprovided sick days

PTO cashouts for unused vacation time

Neither a sick-day "plan" nor a vacation pay arrangement is detailed in the IRS Publication (15-B) listing fringe benefits, cited by BG5150.

DOL Regs. 2510.3-1(b)(3)(I) states that an unfunded vacation pay setup is not an ERISA welfare setup however simply payroll exercise. It would certainly seems that a payroll practice isn"t a fringe benefit; it"s ssuggest component of an employee"s fundamental compensation. 

Seems prefer payment of cash in lieu of payment of one"s regular for lack during a sick days meets the same typical.

Does anyone argue, or does anyone know of guidance, saying are that either of these payouts is a fringe advantage for purposes of the safe harbor exclusions?


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