Iap Worldwide Services Inc Veba

“Iap worldwide services, inc., the sponsoring organization, compensates the trustees for their capacities as employees of that corporation. Therefore, the trustees are considered for the purpose of this question to have a business relationship with each other as they are all employed by the same organization. Iap worldwide services, inc. Employee welfare benefit trust does not compensate the trustees in any way.”

“The trustees listed on part vii were initially selected by the vice-president of iap worldwide services, inc., the sponsoring organization. They are retained as trustees until they are no longer with the company or upon removal by the vice-president of iap worldwide services, inc.the trustees may also voluntarily resign from their duties as board members.”

“Minutes are recorded at Trustee Meetings and reviewed by each Trustee before the next scheduled meeting.”

“A draft copy of the 990 is sent to the delegated trustees for review and completion with assistance from the external CPA Firm and Legal Counsel. Upon completion and submission to the IRS, each trustee receives a copy of the final return. Meeting minutes are recorded at the trustee meeting.”

“The Master Trust Agreement and other governing policies are made available on its member's website. A paper copy is also provided upon request to members, along with any other requests for financial information related to the Trust.”

“The trustees listed on part vii received no compensation from iap worldwide services, inc employee welfare benefit trust, (the "trust"). The amount shown in part vii was paid by the sponsoring organization, iap worldwide services, inc. For services performed by the trustees in their capacity as employees of iap worldwide services, inc. And is being disclosed as compensation received from a related entity. No part of the disclosed compensation related to their duties as trustees of the trust. An itemized list, detailing the individual trustee amounts, will be provided to the irs upon its request.”

“IAP Worldwide Services, Inc. is a sponsoring organization that contributes 10% or more for the benefit of IAP Worldwide Services, Inc. Employee Welfare Benefit Trust, (the "Trust"). Therefore, IAP Worldwide Services, Inc. has accordingly been shown on the return as having a relationship to the Trust.”

“Form 990 and form 990-t for the organziation are being filed for the calendar year 2024 despite the absence of accountant's opinion and financial statements report. The organization requires additional time to prepare necessary documentation for the independent accountant's audit fieldwork. Once the report is completed, the organziation will file amended forms 990 and 990-t.”