Read SSI’s four-part series on best practices for labor and employment published by The National Law Journal:
What You Need to Know for Your Next Class Action or Collective Action
There are a variety of implications associated with the bank at which you chose to establish your Qualified Settlement Fund.
Some banks charge extensive fees for the money you invest with them, and also have inefficient structures, resulting in valuable claims administration time spent dealing with bank bureaucracy. Consulting with SSI before you make a decision regarding the bank at which to invest your settlement funds can help ensure settlement money goes to your class, not to bank fees and charges. SSI has a long-standing relationships with various banks that increase efficiency and economy of the QSF administration process. Click here to read more about the Qualified Settlement Fund-related services we offer.
Initial design of your claim form can affect the speed and accuracy with which claims are subsequently processed.
Involving SSI in the design of your claim form ensures the form is simple to understand and can be processed effectively, with minimal need for costly follow-up. Click here to learn more about our Claims Processing Services.
There are specific IRS reporting requirements for payments made by a defendant into a Qualified Settlement Fund
QSFs are governed by Treasury Regulation 1.468B-1 et seq. Parties should review this regulation in advance of drafting their settlement agreements.