excess assets

(C)For purposes of subparagraph (A), the term “excess assets” means an amount equal to the excess (if any) of— (i)the fair market value of the assets of the original plan immediately before the spin-off, over (ii)the amount of assets required to be allocated after the spin-off to all plans (determined without regard to this paragraph). (D) (i)A plan involved in a spin-off which is described in clause (ii), (iii), or (iv) shall not be taken into account for purposes of this paragraph, except that the amount determined under subparagraph (C)(ii) shall be increased by the amount of assets allocated to such plan. (ii)A plan is described in this clause if, after such spin-off, such plan is maintained by an employer who is not a member of the same controlled group as the employer maintaining the original plan. (iii)A plan as described in this clause if, after the spin-off, any employer maintaining such plan (and any member of the same controlled group as such employer) does not maintain any other plan remaining after the spin-off which is also maintained by another employer (or member of the same controlled group as such other employer) which maintained the plan in existence before the spin-off. (iv)A plan is described in this clause if, pursuant to the transaction involving the spin-off, the plan is terminated.

Source

26 USC § 414(l)(2)(C)


Scoping language

For purposes of subparagraph
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