Section 6112.—Organizers and Sellers of Potentially Abusive Tax Shelters Must Keep…

26 CFR 301.6112–1: Requirement to prepare, main- tain, and furnish lists with respect to potentially abu- sive tax shelters.

Whether a list must be maintained with respect to transactions involving a pension plan that holds life insurance contracts and annuity contracts for the benefit of a participant which provide for benefits at normal retirement age in excess of the participant’s benefits at normal retirement age under the terms of the plan. See Rev. Rul. 2004-20, page 546.

2 This revenue ruling does not address any COBRA notice requirement that a qualified beneficiary may have to satisfy in order to be entitled to the expanded maximum coverage period in connection with a second qualifying event.

3 Q&A–4(b) of § 54.4980B–7 of the regulations allows a plan to elect to measure the maximum coverage period from the date of a later loss of coverage rather than from the date of the qualifying event.

4 E ’s spouse also provided notice to the plan of E ’s Medicare entitlement within 60 days after E became so entitled. This is relevant in determining whether E ’s spouse has satisfied any COBRA notice requirement that may apply for E ’s spouse to be entitled to the expanded maximum coverage period in connection with the occurrence of a second qualifying event.

March 8, 2004 555 2004-10 I.R.B.