Section 1035 sets out provisions for the exchange of similar (insurance
related) assets without any tax consequence upon the conversion. If the
exchange qualifies for like-kind exchange consideration, income taxes are
deferred until the new property or asset is sold. The 1035 exchange
provisions are only available for a limited type of asset which includes
cash value life insurance policies and annuity contracts.
An annual report filed by corporations each year as required by the SEC. The
10K must be filed within 90 days after the end of the fiscal year and
provides a comprehensive overview of a company's business practices and
A 401(k) plan is a tax-deferred defined contribution retirement plan that
gives eligible employees the opportunity to defer a portion of their current
compensation into the plan. Amounts that are deferred are excluded from the
participant's gross income for the year of the deferral. The plan may
provide for employer matching contributions and discretionary profit-sharing
Tax deferred annuity retirement plan available to employees of public
schools and colleges, and certain non-profit hospitals, charitable,
religious, scientific and educational organizations.
Non-qualified deferred compensation plans available to employees of state
and local governments and tax-exempt organizations.