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ARTICLE · 06 JANUARY 2011

IRS Issues New Guidance on Group Trusts

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The US Internal Revenue Service (IRS) recently issued Revenue Ruling 2011-1 (the "Ruling").

United StatesFinance and Banking
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Article by Herbert W. Krueger , Charles M. Horn , Lennine Occhino and Linda K. Shore

Originally published January 5, 2011

Keywords: IRS, Revenue Ruling 2011-1, group trust, tax exempt, Revenue Ruling 81-100.

The US Internal Revenue Service (IRS) recently issued Revenue Ruling 2011-11 (the "Ruling"). This Ruling consolidates and modifies, in certain respects, existing guidance under Revenue Ruling 81-100, and related guidance, that address the requirements that must be satisfied by a group trust in order to qualify for tax-exempt treatment under the Internal Revenue Code (the "Code"). The Ruling is generally effective on or after January 10, 2011. Importantly, the new Ruling does not affect the administration requirements under the federal banking laws, or the federal securities law exemption requirements, applicable to bank-sponsored collective investment funds (CIFs) that are qualified as group trusts.

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