Can I Put A Lense On A Semi Professional

Pension plans in corporate divestitures

Zur Sanierung bzw. Entsorgung von Pensionszusagen

                                         

Pensionszusagen put at the disposal of subsidiaries of GmbH be a larger obstacle, and the buyer fears the longevity of the vendor and would set an early death of the seller's not really sad. The seller is concerned, however, the buyer could over the years finding ways to rid themselves of pension obligations. The problem is often the fact that in the past too little has been saved and not enough means to pay the pension available. The experts speak of a lack of funding of commitment.

Just as the insurers were initiators of pension plans once - "you financed thanks to the tax savings almost by itself "- so they are now available again to reorganize your solution." Simply a new insurance policy from "In actual fact, the restoration of pension benefits on the specific circumstances of each case and varies little one! case is the same. In tax law, in any case it belongs to the most demanding thing there is. There are a number of possible solutions, I would like to outline briefly.

there is no time pressure, then, is the date of pension commencement still far away, , the saving power can be increased or the amount of the commitment to be lowered. In practice, however, take far common to the cases, which the company or shares to be sold out and no concrete long preparation is possible. These cases will be discussed here and that more restrictive, only the situation where the buyer rejects the assumption of pension obligations fully.

are essentially the following variants in question: (1) Company sale through an asset deal, (2) outsourcing of pension obligations (4) to a provident fund or pension fund, (3) outsourcing to a sister company and full or partial waiver of the pension commitment. Another very interesting solution, in the special cases at the expense of the tax office is, should not be discussed here.

to (1): In an asset deal does not sell the shares in the company, but only the operation as such. The remaining shares and thus the residual GmbH to the seller. For the buyer this is a clean solution. The parties may - with certain restrictions - free to agree which assets and which liabilities are transferred. The pension obligations may remain with the seller, who now see themselves met to decide how its GmbH in the future with their obligations. After all, are the GmbH The funds from the reinsurance and the purchase price to pay for the pension. Whether they are sufficient to eventually, is another matter. This is not advantageous from the perspective of the seller for a reason other extremely unattractive: an asset deal out over a share deal to a much higher tax burden. The difference is less than 30% based on the company's value. For details, you can read the blog post in December. Another disadvantage is that the seller continue as long as the LLC must show how the board runs.

Re (2): This is the solution that is recommended by insurance companies. Who in Internet stöbert, bekommt dazu die meisten Informationen. Bei dieser Variante wird die Pensionsverpflichtung auf eine Versicherung ausgelagert. Die Versicherung will Geld sehen: Die gesamte Zusage muss sofort und vollständig ausfinanziert werden. Bei den Renditen, die Versicherungen gegenwärtig bieten, sind das enorme Beträge. Eine bestehende Rückdeckungsversicherung kann auch nicht auf den neuen Versicherungsvertrag übertragen, sondern muss gekündigt werden. Die Einzahlung in die Unterstützungskasse kann bei der GmbH auch nicht sofort steuerlich abgesetzt werden. Alles in allem eine sehr, sehr teure Lösung. Die Versicherung übernimmt aber im Gegenzug alle Risiken und stellt die lebenslange Zahlung sicher. Die GmbH wird von der Duty-free and can be sold easily.

Re (3): The pension obligations, together with reinsurance is outsourced to a separate Retiree GmbH (also a sister company). Under civil law, the more appropriate way is through a spin-off. This solution is civil and tax law very demanding and can be carried out by lawyers and tax advisors with appropriate expertise. The retiree-GmbH as a female employee must comply with the capital raising rules, which requires a concerted action with the bank. As a result, the sell GmbH free of the pension obligation and also can be sold easily. Bei dieser Variante ist zwar keine sofortige Ausfinanzierung erforderlich, die Gesamtmittel des Verkäufers sollten aber doch auf Dauer ausreichen, die Pension zu bedienen. Denkbar ist noch die Auslagerung auf eine Schwester-GmbH & Co. KG. Ausführungen dazu sprengen aber den Umfang eines Blog-Eintrags und sind auch nur in Sonderfällen sinnvoll.

Zu (4) Auf den ersten Blick erscheint ein Teilverzicht als der Königsweg. Teilverzicht deshalb, weil der Verkäufer sich eine Abfindung in Höhe der Rückdeckungsversicherung auszahlen lässt und nur auf den Restbetrag der Pensionszusage verzichtet.  Allerdings führt dies zu gravierenden steuerlichen Auswirkungen. Abhängig on the specific situation may represent either the gain height as revenue for an LLC or a so-called hidden tax on income contribution. To the latter: The LLC will receive a financial benefit when it is released from the obligation to pay the pension. Because of this economic benefit is not supplied as part of an official capital, is referred to as the hidden deposit. In order to provide the shareholders this covert insertion, it must be accrued to him only once (you can not do without something you do not have). This influx triggers income tax. The concealed deposit does lead to additional acquisition costs to participation, which are sold in the sale können, unterm Strich bleibt doch aber eine erhebliche steuerliche Belastung übrig.

Maßgeblich für die Auswahl eines Lösungsweges sind im Wesentlichen diese Kriterien: Welche Restriktionen gibt der Käufer vor? Gibt es bereits eine Grundsicherung für den Verkäufer, die sein Langlebigkeitsrisiko abdeckt? Welche Spielräume ermöglichen die finanziellen Verhältnisse des Verkäufers unter Berücksichtigung des Kaufpreises für das Unternehmen?

Damit wird klar, dass der konkrete Lösungsweg in Abhängigkeit von der jeweiligen Ausgangssituation ausgewählt werden muss. Ein Pauschalrezept gibt es nicht.