Will I lose a portion of my retirement funds if I’m not fully vested in my retirement account when my plan is terminated? When a plan terminates, the accrued benefits of all affected employees must become 100% vested (Internal Revenue Code Section 411(d)(3)). Employers are not required by law to provide retirement plans for employees and may terminate a plan if certain requirements are met, such as required notifications to plan participants and interested parties.* Westlaw is used in examples below, but user experience will be similar for other Web-based Thomson Reuters applications such as Practical Law, Westlaw Tax, Westlaw International, lawschool.westlaw.com, My Account, Quick View , and more.A One Pass profile is the online record of the username and password you personally select to access Thomson Reuters Westlaw.Why is the IRS holding the money from my retirement plan now that the plan has terminated?The IRS does not maintain or hold the assets during the plan termination process.When a plan has formally terminated and the plan sponsor has submitted a Form 5310, Application for Determination for Terminating Plan, the IRS will review the application.
A corporation with several distinct business units — none separately incorporated — sells all assets used by one such business unit to an unrelated buyer.This re-authentication process will only be required once per session.Forgotten username can be emailed with validation of email address.Under Section 409A, unless certain requirements are satisfied, amounts deferred under a NQDC plan are includable in the gross income of the participants, even if all accounts are not actually paid to an employee, unless such amounts are subject to a substantial risk of forfeiture.In addition, such deferred amounts are subject to an additional 20 percent federal income tax, interest, and penalties.Use One Pass to sign on to Westlaw, Practical Law, Westlaw Tax, Westlaw International, lawschool. Why do I have to create a One Pass profile to access Thomson Reuters products and websites?By asking our users to create their own passwords rather than using Thomson Reuters-assigned passwords, we will be able to provide better security.So in a corporate sale or similar transaction, sponsors must determine whether such a separation has occurred.These corporate transactions include a sale of stock or of corporate assets, a spin-off by a parent of shares in a subsidiary to the parent’s shareholders and an IPO.Can I use the same One Pass profile for multiple products and websites?Yes, your One Pass username and password will allow you to access multiple Thomson Reuters products and websites that use One Pass for authentication. Please note that if you save both your username and password and you access sensitive public records content, you will be asked to enter your password again.