Government regulations regarding liquidating assets

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This section prescribes rules for qualification for a section 338(h)(10) election and for making a section 338(h)(10) election.This section also prescribes the consequences of such election.

The IRS does not maintain or hold the assets during the plan termination process.Non-profit organizations that purchase federal assets thereby gain the ability to manage those resources in a manner consistent with their missions, rather than relying on the indirect method of lobbying the government to treat those assets in ways they desire.Conservation groups, for example, can gain the ability to maintain biodiversity in sensitive wildlife habitats and they can eventually choose to resell some of their holdings in order to finance the purchase of more environmentally significant natural resources.When must plan assets be distributed after a plan terminates?Generally, an employer must distribute assets from a terminated plan as soon as administratively feasible after the date of plan termination.

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