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National Office
Managing  Director
Lance Wallach

Member of the  AICPA faculty of
teaching  professionals. AICPA author,
instructor & national speaker National
Society of Accountants.Speaker of the
Year. Writes financial  articles for over
50 national publications.
What We do
Plan reviews & evaluations
Plan compliance consulting
Healthcare cost reduction
Reearch & analysis of plan
Captive insurance companies
Plan reporting for financial
Corporate tax reduction
                                                    A VEBA Plan LLC site
Voluntary Employee Benefit Association (VEBA) Trusts meet requirements to file both Form
5500 and Form 990

This requirement to file two returns made me question why other collectively-bargained benefit plans,
such as the Pension, Annuity Funds, as well as 403(b) or 401(k) plans, are only required to file a Form
5500. In our practice, VEBA Trusts are used in connection with multiemployer Health and Welfare
Plans. The difference between these plans is the Internal Revenue Service Code Sections under which
the trusts are organized. While both are nontaxable trusts, there are differences between the code
sections that regulate them.

Form 990 filing requirements
Form 990 filing is due on the 15th day of the 5th month after the plan year end. Two 90-day extensions
can be obtained by filing Form 8868. The latest due date for the Form 990 is the 15th day of the 11th
month after the year end.

Nonprofit organizations organized under the Internal Revenue Code Section 501, meeting certain
asset and revenue criteria, are required to file the Form 990 annually.
VEBA Trusts are tax exempt
under IRC § 501(c)(9). This is different from multiemployer Pension and Annuity plans which are
commonly organized under IRC § 400 series. As a result, multiemployer Pension and Annuity Plans are
not required to file a Form 990. The Form 990’s focus is the entity’s purpose, mission, programs and
finances. The filing of the Form 990 ensures that a VEBA Trust’s assets are efficiently managed for the
purpose of providing benefits to the plan’s participants.
IRC § 501(c)(9) provides a broad definition of benefits which range from common health benefits to
emergency loans in times of disaster. One of the limits that IRC § 501(c)(9) places on VEBAs is that
90% or more of the members must be employees with a common bond (employees in the same line of
business in the same geographic area), unless the members are subject to a collective bargaining
agreement. Multiemployer plans create VEBA Trusts to provide health benefits granted in collective
bargaining agreements. The Internal Revenue Service has placed this limitation on VEBAs to ensure
businesses do not use this form of organization in place of a bona fide insurance organization which
would be separately regulated. Additionally, at least 90% of members are required to be employees,
with up to 10% of members who are not employees being related to the members of the VEBA, such as
in an employer capacity. Some of our multiemployer Health and Welfare plan clients allow participating
employers to cover the company’s non-union office employees.
Form 5500 filing requirements
Form 5500 is due on the last day of the 7th month following the plan’s year end and can be extended
for two and a half months by filing Form 5558.

Form 5500 is a joint effort of the Department of Labor, Pension Benefit Guaranty Corporation, and the
Internal Revenue Service. The Form 5500’s purpose is to report information regarding compliance with
the Employee Retirement Income Security Act (ERISA). VEBA Trusts are subject to ERISA because
their purpose is the provision of health benefits to participants. As a result, VEBA Trusts with over 100
participants are required to file the Form 5500. Multiemployer Health and Welfare plans commonly
have over 100 participants, and generally require the filing of Form 5500.The core purpose of ERISA
is to ensure plans provide the benefits as promised to participants including a detailed reporting of
insurance companies utilized. In addition, Form 5500 requires the reporting of professional fees paid
out of plan assets for services rendered to the plan. These disclosure requirements have a significant
impact on multiemployer Health and Welfare Plans because these plans commonly use plan assets to
pay for service providers such as fund consultants, legal counsel, investment managers, third party
administrators, and audit fees. The goal of the Form 5500 is to ensure the trust is well managed for the
benefit of the participants.
Forms 990 and 5500 serve separate, but equally important purposes. These forms provide the Internal
Revenue Service and Secretary of Labor the information necessary to oversee VEBA Trusts.
The Secret to Buying a
Policy With the right term

Agents like to talk about policies you
can keep throughout your life. What
they sometimes won't tell you is that
you don't need life insurance coverage
throughout your life.

The secret to buying a policy with the
right term is figuring out how long you
need to be insured. You start by
estimating when your children will be
out on their own and no longer in need
of your financial support.

So if your children are 3 and 5 now,
you'd probably want a policy that
covers you at least until the youngest
is 22, so that's about a 20-year term.
But this depends somewhat on your
age as well.

Say you also want to cover your
spouse for your lost income until what
would be your normal retirement age,
65, and you're only 35 now. Then you
would want a 30-year policy.

Keep in mind that insurance gets very
expensive as you leave your 50s. So
you may pay more to cover yourself
until 65, even if you lock in a
level-premium, 30-year policy when
you are 35. Coverage past age 70 or
so may be unattainable.
Benistar, SADI Trust,Beta 419,Millennium Plan,Bisys,Creative Services Group,
Sterling Benefit Plan,Compass 419,Niche 419,CRESP,Sea Nine Veba,
American Benefits Trust, National Benefit Plan and Trust, ABT, Professional
Benefits Trust
Benistar 419 Plan, Millennium 419 Plan,Bisys 419,Creative Services Group
419 Plan,Sterling Benefit 419 Plan,CRESP 419,Sea Nine Veba 419, National
Benefit Plan and Trust 419, American Benefits Trust 419,ABT 419,Old Mutual
“Grist Mill Trust” “Penn Mont” “Real Veba””Section 79 GEAR” GEAR” “United
Financial Group” “Millennium Plan”  “Millennium Plan”  “captive insurance”
cresp “Ridge Plan” “Professional benefits Trust” “PBT “ “Professional Planning
Associates” “National Pension Associate” “NPA””Heritage Plan” ”"Insurance
fraud""pension and benefit plan fraud"“insurance company fraud"”ECI Pension
Services””Pension Professionals of America””ABI”“Kenny Hartstein””Dennis Cunning””Steve Toth””Michael Sonnenberg”Larry
Bell””Scott Ridge””Randall Smith””Greg Roper””Tracy Sunderlage””Warren
Trust””Joseph Donnelly””Norm Bevan””Judy Carsrud””Dan Carpenter””Ed
Waesche””Daniel Hwang” “Tom Crosswhite””David Struckman””George Huff”6707a, 8886, IRS form 8886, listed transactions, reportable transactions,
Section 79, Captive Insurance,Hartford 419, PAC Life, Advantage,
Indianapolis Life, Pacific Life 419, 419 plan, 419e plan, Lance Wallach
Benistar, SADI Trust,Beta 419,Millennium Plan,Bisys,Creative Services Group,Sterling Benefit Plan,Compass
419,Niche 419,CRESP,Sea Nine Veba, American Benefits Trust, National Benefit Plan and Trust, ABT,
Professional Benefits Trust
Benistar 419 Plan, Millennium 419 Plan,Bisys 419,Creative Services Group 419 Plan,Sterling Benefit 419 Plan,
CRESP 419,Sea Nine Veba 419, National Benefit Plan and Trust 419, American Benefits Trust 419,ABT 419,Old
“Grist Mill Trust” “Penn Mont” “Real Veba””Section 79 GEAR” GEAR” “United Financial Group” “Kenny
Hartstein” “Millennium Plan” Kenny Hartstein” “Millennium Plan” “John Koresko” “captive insurance” cresp
“Ridge Plan” “Professional benefits Trust” “PBT “ “Professional Planning Associates” “National Pension
Associate” “NPA””Heritage Plan” ”"Insurance fraud""pension and benefit plan fraud"“insurance company fraud"”
ECI Pension Services””Pension Professionals of America””ABI””Hartford””AIG””Indy Life””Indianapolis Life””
“Kenny Hartstein””John Koresko””Dennis Cunning””Steve Toth””Michael Sonnenberg”Larry Bell””Scott Ridge””
Randall Smith””Greg Roper””Tracy Sunderlage””Warren Trust””Joseph Donnelly””Norm Bevan””Judy Carsrud””
Dan Carpenter””Ed Waesche””Daniel Hwang” “Tom Crosswhite””David Struckman””George Huff”
Hartford 419, Pacific Life 419, PAC Life 419, AVIVA, 419, Indianpolis Life, Penn Mutual419,Bankers Life 419, John
Hancock 419, Security Mutual 419, Transamerica 419,Prudential 419, Kansas City Life 419, Mass Mutual419,
Guardian 419, Amerus 419, Wells Fargo 419, Fifth Third Bank 419, Arrow Head Trust 419, U.S. Benefits Group,
Benefit Plan Advisors, Rex Insurance Service,Advantage,AIG,
Hartford 412, Pacific Life 412, PAC Life 412, AVIVA, 412, Indianpolis Life, Penn Mutual412,Bankers Life 412, John
Hancock 412, Security Mutual 412, Transamerica 412,Prudential 412, Kansas City Life 412, Mass Mutual412,
Guardian 412, Amerus 412, U.S. Benefits Group, Benefit Plan Advisors, Grist Mill trusts, Rex Insurance Service
Lance Wallach - Expert Services, Expert Advice

Contact Us At:516-938 -5007
Expert Services
Litigation Consulting
Case Evaluation
Evidence Review and Forensic Analysis
Complaint, Petition, and Response Preparation
Damage Calculations
Expert Declarations and Affidavits
Exhibits for Settlement Conference, Mediation, and Trial
Active Litigation: Rebuttal Witness
Deposition, Arbitration, and Trial Testimony
Insurance Fraud
Pension & Benefit Plan Fraud
Insurance Company Fraud
419 & 412 plan defense
Employee benefit plan audits/penalty resolution
IRS Audit assistance
Plan reviews, evaluations & remediation
Expert Witness testimony
Research & Analysis of Tax Laws
Providing Guidance for Businesses, Attorneys, CPAs &
Insurance professionals nationwide
Stock market, Mutual fund & Insurance loss recovery
Retirement Plan Lawsuit
Expert Credentials:
Speaker of the Year and member of the AICPA faculty
of teaching professionals
Frequent speaker on retirement plans, financial and
estate planning, and abusive tax shelters
Writes about 412(i), 419, and captive insurance plans
Speaks at more than ten conventions annually
Writes for more than fifty publications
Is quoted regularly in the press and has been featured
on television and radio financial talk shows including
NBC, National Pubic Radio's All Things Considered,
and others
Author of Protecting Clients from Fraud, Incompetence
and Scams published by John Wiley and Sons
Author of Bisk Education's CPA's Guide to Life
Insurance and Federal Estate and Gift Taxation
Author of AICPA best-selling books, including Avoiding
Circular 230 Malpractice Traps and Common Abusive
Small Business Hot Spots
Every one of our
attorneys, CPAs
& ex-IRS Agents
has more than
25 years
of professional
experience!We believe that no
firm has more
professionals to
assist our clients
than we do!Call Us At:
Lance is an expert about:   The Millennium Plan - SADI Trust - The Beta Plan - Hartford - PAC Life - Niche - Benistar - The Grist Mill Trust
Indianpolis Life - Penmont - and other similar 412i retirement plans and 419 welfare benefit plans
Real Veba John Koresko attacked by court and IRS
Law firm sued for representing alleged embezzlers

Michelle Lovrine Honeyager Dec. 16, 2014, 10:23am

A class-action lawsuit was filed against Montgomery McCracken Walker & Rhodes, LLP
(MMWR) on Dec. 9 over claims that the law firm represented alleged trust fund

The plaintiffs include: Dr. Harvey Kalan, the Harvey Kalan, M.D., Inc. Employee Welfare
Benefit Plan, Dr. Pamela K. Erdman, the Dr. Pamela K. Erdman, M.D., Inc. Employee
Welfare Benefit Plan, Gretchen Castellano, Drs. Martin and Elisa Zenni, and the M&E
Zenni, Inc. Welfare Benefit Plan.
To Read More Click Here
John Koresko, Real VEBA, be made
whole, get all your money back from
the insurance company,fight the IRS
Your Best Source For All Information "REAL
JOHN KORESKO and Other Vebas,419 plan
section 79 and Captive Insurance Scams


Philly Atty Must Repay $18M To Raided
Retirement Plans
By Alex Wolf

Law360, New York (March 18, 2015, 2:38
PM EDT) -- A Pennsylvania federal judge
on Monday ordered Philadelphia
attorney John Koresko and his
now-defunct law firm and retirement
benefit companies to pay $18.4 million in
remaining restitution for allegedly using
millions of dollars in employee
retirement plan assets for his personal
Monday's order comes after nearly six
years of litigation and a 221-page
opinion entered by U.S. District Judge
Mary A. McLaughlin in February, which
found Koresko, Koresko Law Firm PC
and his companies, Penn-Mont Benefit
Services Inc. and Penn Public Trust,
were jointly and severally liable for
returning $38.4 million to more than 400
benefit plans nationwide. The judge also
permanently barred Koresko and former
associate Jeanne Bonney from serving
as fiduciaries in any capacity to any
employee benefit plan.