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Part 4. Examining ProcessChapter 72. Employee Plans Technical Guidelines4.72.8 Valuation of Assets in Defined Contribution PlansManual TransmittalApril 06, 2022 Purpose(1) This transmits revised IRM 4.72.8, Employee Plans Technical Guidelines, Valuation of Assets in Defined Contribution Plans. Material Changes(1) Added IRM 4.72.8.1.4, Examiner Responsibilities, and included a subsection on the Requirement for Actuarial Assistance as set forth in TE/GE-04-0921-0015. (2) Updated IRM 4.72.8.6.3 (6) by deleting "modified and superseded Rev. Proc. 2004-16." (3) Added IRM 4.72.8.7.3, Virtual Currency which defines convertible virtual currency and states the IRS Notice 2014-21, 2014-1 C.B. 938 explains it is treated as property for federal tax purposes, and general tax principles applicable to property transactions apply to transactions involving virtual currency. (4) Former IRM 4.72.8.7.3 Examination Steps, is now IRM 4.72.8.7.4. (5) Updated IRM 4.72.8.8.1 (4) to change reference to IRC 170(f)(11)(E). (6) Updated this IRM for plain language and editorial changes throughout. Effect on Other DocumentsThis supersedes IRM 4.72.8, dated April 16, 2021 and incorporates the applicable provisions of TE/GE-04-0921-0015. Audience Tax Exempt and Government Entities Effective Date(04-06-2022)
4.72.8.1 (04-16-2021) Program Scope and Objectives
4.72.8.1.1 (04-16-2021) Background
4.72.8.1.2 (04-16-2021) Authority
4.72.8.1.3 (04-16-2021) Responsibilities
4.72.8.1.4 (04-06-2022) Examiner Responsibilities
4.72.8.1.5 (04-16-2021) Program Management and Review
4.72.8.1.6 (04-16-2021) Program Controls
4.72.8.1.7 (04-16-2021) Acronyms
4.72.8.2 (04-16-2021) Valuation of Assets
4.72.8.3 (04-16-2021) Form 5500 Information
4.72.8.3.1 (08-29-2016) Examination Steps
4.72.8.4 (08-29-2016) Timing of Asset Valuations
4.72.8.4.1 (08-29-2016) Interim Valuations
4.72.8.4.2 (08-29-2016) Examination Steps
4.72.8.5 (08-29-2016) Determining Asset Values
4.72.8.5.1 (08-29-2016) Factors for Determining Value
4.72.8.5.2 (08-29-2016) ERISA 3(18)
4.72.8.5.3 (08-29-2016) Examination Steps
4.72.8.6 (08-29-2016) Types of Plan Assets
4.72.8.6.1 (08-29-2016) Partnerships
4.72.8.6.1.1 (08-29-2016) Examination Steps
4.72.8.6.2 (08-29-2016) Real Estate
4.72.8.6.2.1 (08-29-2016) Examination Steps
4.72.8.6.3 (04-16-2021) Life Insurance Contracts
4.72.8.6.3.1 (08-29-2016) Examination Steps
4.72.8.7 (08-29-2016) Effects of Improper Valuation
4.72.8.7.1 (04-16-2021) Funding and Deductions
4.72.8.7.2 (08-29-2016) Prohibited Transactions
4.72.8.7.3 (04-06-2022) Virtual Currency
4.72.8.7.4 (08-29-2016) Examination Steps
4.72.8.8 (08-29-2016) ESOP Issues
4.72.8.8.1 (08-29-2016) Independent Appraiser Rules
4.72.8.8.2 (08-29-2016) Examination Steps
Page Last Reviewed or Updated: 06-Apr-2022 Which of the following statements is true of the Employee Retirement Income Security Act ERISA of 1974 quizlet?Which of the following is true of the Employee Retirement Income Security Act (ERISA) of 1974? It established vesting rights related to pensions. Which of the following is true of 529 savings plans? They allow parents and other family members to defer taxes on the earnings of their deposits.
What is the aim of ERISA Employee Retirement Income Security Act?The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that sets minimum standards for most voluntarily established retirement and health plans in private industry to provide protection for individuals in these plans.
Which of the following would be covered under ERISA?Plans that are covered under ERISA include employer-sponsored retirement plans, such as 401(k)s, pensions, deferred compensation plans, and profit-sharing plans. ERISA also covers certain non-retirement plans like HMOs, FSAs, disability insurance, and life insurance.
What is ERISA quizlet?What does ERISA stand for? Employee Retirement Income Security Act (enacted 1974)
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