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Qualifying plans down on the hacienda (Puerto Rico)

Fox Rothschild LLP
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Puerto Rico, USA
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December 14 2012

Sponsors of tax-qualified retirement plans that have employees resident in Puerto Rico or employees that received Puerto Rico source contributions should be aware that Puerto Rico has its own system for qualifying retirement plans

Puerto Rico retirement plans: issues employers should think about in 2012

McDermott Will & Emery
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Puerto Rico, USA
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June 19 2012

Puerto Rico and U.S. laws affecting retirement plans have changed extensively in the last few years

IRS extends transition relief for Puerto Rico qualified plans to participate in U.S. group trusts and deadline to transfer assets

McDermott Will & Emery
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Puerto Rico, USA
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December 28 2011

On December 21, 2011, the U.S. Internal Revenue Service issued Notice 2012-6, which provides welcome relief for U.S. employers with qualified employee retirement plans that cover Puerto Rico employees

Retirement benefits for residents of Puerto Rico

Porter Wright Morris & Arthur LLP
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Puerto Rico, USA
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August 23 2011

Are any of your employees residents of Puerto Rico?

New Puerto Rico tax code means changes for qualified retirement plans

McDermott Will & Emery
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Puerto Rico, USA
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March 28 2011

The Commonwealth of Puerto Rico recently adopted a new Internal Revenue Code (PR Code) that contains numerous changes to sections governing qualified retirement plans

IRS permits Puerto Rico-qualified plans to participate in U.S. group and master trusts for transition period, extends deadline for Puerto Rico spin-offs

McDermott Will & Emery
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Puerto Rico, USA
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January 7 2011

The U.S. Internal Revenue Service (IRS) announced tax-qualified retirement plans in Puerto Rico may continue to pool assets with U.S.-qualified plans in group and master trusts described in Revenue Ruling 81-100 until further guidance is issued

IRS signals change in policy on participation in group trusts by certain Puerto Rico plans

Ropes & Gray LLP
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Puerto Rico, USA
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November 12 2010

Tax-exempt group trusts cannot have certain Puerto Rico plans as participants, according to the position taken by an IRS official in a letter to Senator Arlen Specter dated September 14, 2010

Puerto Rico plans

Quarles & Brady LLP
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Puerto Rico, USA
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May 31 2010

The IRS has stated that one of its priorities for FY 2010 is to develop strategies and capabilities to address key international issues impacting the Employee Plans sector

Converting U.S.Puerto Rico qualified retirement plans to single Puerto Rico-only plans

McDermott Will & Emery
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Puerto Rico, USA
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December 16 2008

As a result of a U.S. Internal Revenue Service (IRS) Revenue Ruling issued in July 2008, U.S. employers maintaining retirement plans tax-qualified both in the United States and in Puerto Rico (dual-qualified plans) should consider splitting those plans into separate U.S.-only and Puerto Rico only qualified plans

IRS sets deadline for transfers from dual-qualified to Puerto Rico-only qualified plans

McDermott Will & Emery
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Puerto Rico, USA
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August 5 2008

Transfers from dual-qualified plans to Puerto Rico-only qualified plans must be made before January 1, 2011, to avoid qualification and tax problems

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