qualified foreign plan
Defined in 1 place of the United States Code.
For purposes of this section, the term "qualified foreign plan" means any written plan of an employer for deferring the receipt of compensation but only if—
Source
- 1994–present26 U.S.C. § 404AInternal Revenue Code · Deduction for certain foreign deferred compensation plans · for purposes of this section
For purposes of this section, the term “qualified foreign plan” means any written plan of an employer for deferring the receipt of compensation but only if—
(1) such plan is for the exclusive benefit of the employer’s employees or their beneficiaries,
(2) 90 percent or more of the amounts taken into account for the taxable year under the plan are attributable to services—
(A) performed by nonresident aliens, and
(B) the compensation for which is not subject to tax under this chapter, and
(3) the employer elects (at such time and in such manner as the Secretary shall by regulations prescribe) to have this section apply to such plan.
Source
- 2013–201826 U.S.C. § 404AInternal Revenue Code · Deduction for certain foreign deferred compensation plans · for purposes of this section