Answered

Which of the following is required in order for a plan to be qualified?

A. The plan must not be permanent.
B. The plan must be for the exclusive benefit of the employer.
C. The plan must be formally written and communicated to the employees.
D. The plan's contribution formula is allowed to discriminate in favor of officers of the company.



Answer :

GinnyAnswer

Final answer:

For a plan to be qualified, it needs to be formally written and communicated to employees, for the exclusive benefit of the employer, and not discriminate in favor of company officers.


Explanation:

To qualify, a plan must meet specific requirements:

  1. The plan must be formally written and communicated to the employees to ensure clarity and understanding.
  2. The plan must be for the exclusive benefit of the employer, emphasizing that the plan is designed to benefit the employer primarily.
  3. The plan must not discriminate in favor of officers of the company in the contribution formula, ensuring fairness among participants.

Learn more about Qualifications for a qualified plan here:

https://brainly.com/question/10986188


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