Cafeteria Plans (Portfolio 397)

raish-david-2015

David Raish

Retired Partner

Ropes & Gray LLP

Rick Szczebak

Owner

RAS Law, P.C.

At a glance

I. Introduction
II. Evolution of the Current Cafeteria Plan Rules
III. General Requirements of a Cafeteria Plan
IV. Benefits Available Under a Cafeteria Plan
V. Benefits Not Available Under a Cafeteria Plan
VI. Nondiscrimination Rules for Cafeteria Plans
VII. Limitation on Nontaxable Benefits for Key Employees
VIII. Reporting Requirements
IX. Effect on Other Benefits
X. State and Local Taxes

Abstract

Bloomberg Tax Portfolio, Cafeteria Plans, No. 397, examines the federal income taxation of “cafeteria plans” under Code §125. The Detailed Analysis includes an overview of the history of Code §125. It then examines in depth the development of the rules governing cafeteria plans, including the rules that govern the different types of benefits that may be provided under them. The Detailed Analysis includes an in-depth discussion of the relevant Code provisions and the IRS's cafeteria plan regulations and their planning implications. The Worksheets include relevant practice aids, such as model plan documents. Tax Management Portfolios on related topics include:

• 395 T.M., VEBAs and Other Welfare Benefit Funding Arrangements.

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