excess assets
Defined in 1 place of the United States Code.
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).
Source
- 1994–present26 U.S.C. § 414Internal Revenue Code · Definitions and special rules · for purposes of this part