2024-11-15T14:22:45-06:00 2023-12-31 ERNST & YOUNG US LLP 55 IVAN ALLEN JR BLVD NW STE 1000 ATLANTA GA 30308 990 2023-01-01 566421926 REYNOLDS AMERICAN MEDSAVE PLAN % JP MORGAN CHASE BANK NA REYN 3367415162 PO BOX 2866 WINSTONSALEM NC 271022866 ANTHONY PETITT VP-CONTROLLER 3367413617 2024-11-13 true true Vanessa Espinoza P02034351 4048748300 2024-11-13 2023 2024-10-15 13:58:12Z ANTHONY PETITT PO BOX 2866 WINSTONSALEM NC 271022866 1261701 false X N/A X 1994 NC PROVISION OF CERTAIN MEDICAL BENEFITS AS A VOLUNTARY EMPLOYEES' BENEFIT ASSOCIATION. 1 1 0 0 0 0 0 0 821556 692454 293455 569247 0 0 1115011 1261701 0 0 1164982 1300789 0 0 0 0 0 2963 1456 1167945 1302245 -52934 -40544 13811435 14028558 143373 245959 13668062 13782599 PROVISION OF CERTAIN MEDICAL BENEFITS AS A VOLUNTARY EMPLOYEES' BENEFIT ASSOCIATION. false false 0 0 0 PROVISION OF CERTAIN MEDICAL BENEFITS AS A VOLUNTARY EMPLOYEE BENEFIT ASSOCIATION 0 false false false false false false false false false false false false true true true false false false false false false false false false false false false false false false false false false false false false false false false true false false true 0 0 0 false false false false false false X 1 1 false false false false false false false true true false false true false false false false X JP MORGAN CHASE BANK NA 7182420924 4 CHASE METROTECH CENTER FLOOR 18 BROOKLYN NY 11245 X X JP MORGAN CHASE INSTITUTIONAL TRUSTEE 0.0 1.0 X 0 0 0 0 0 0 0 false false false 0 0 EMPLOYEE CONTRIBUTIONS 900099 692454 692454 692454 569247 569247 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1261701 692454 0 569247 0 0 0 1300789 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ADMINISTRATION FEES 1456 1302245 0 0 0 0 0 0 48749 39012 0 0 0 0 0 0 0 0 0 0 0 0 13762686 13989546 0 0 0 0 0 0 0 0 13811435 14028558 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 143373 245959 143373 245959 X 13668062 13782599 0 0 0 0 13668062 13782599 13811435 14028558 -40544 155081 X false true X true false 0 ACCRUED LIABILITIES 245959 245959 X 1995302 155081 578520 733601 1261701 1261701 1987592 685347 685347 1302245 1302245 FORM 990, SCHEDULE D, PART XI, LINE 2D AND PART XII, LINE 2D EMPLOYER-MATCHING CONTRIBUTIONS ARE NOT FUNDED BY THE PARTICIPANT COMPANIES. HOWEVER, A LIABILITY IS MAINTAINED ON EACH OPERATING UNIT'S GENERAL LEDGER FOR SUCH CONTRIBUTIONS, PLUS EARNINGS DUE TO THE VEBA TRUST. THERE IS NO REQUIREMENT OTHER THAN THE PROVISIONS IN THE PLAN DOCUMENT FOR THE PARTICIPATING COMPANIES TO FUND THE EMPLOYER CONTRIBUTION. FURTHERMORE, THERE IS NO GUARANTEE THAT THE EMPLOYER FUNDS WILL BE AVAILABLE AT THE TIME CLAIMS ARE SUBMITTED FOR PAYMENT. FOR THE PERIOD ENDED DECEMBER 31, 2023, $106,827 IN NET OTHER ADJUSTMENT COMPOSED OF $578,520 IN NET EMPLOYER CONTRIBUTIONS AND $685,347 IN NET EMPLOYER DISTRIBUTIONS OF BENEFITS WERE INCLUDED IN THE FINANCIAL STATEMENTS BUT NOT INCLUDED ON THE TAX RETURN. THE FINANCIAL STATEMENT RELATES TO THE REYNOLDS AMERICAN MEDSAVE PLAN, WHICH INCLUDES THE REYNOLDS AMERICAN MEDSAVE VEBA TRUST REFLECTED IN THIS TAX RETURN. FORM 990, SCHEDULE D, PART X, LINE 2 The VEBA trust funding certain benefits of the Plan received an exemption letter from the Internal Revenue Service (IRS) dated February 7, 1995, stating that the trust is tax-exempt under the provisions of Section 501(c)(9) of the IRC. However, as a result of the Plan's funding policy from time to time the trust may be subject to income taxes. No federal or state income taxes have been recorded in 2023 for unrelated business taxable income. In addition, the Plan and the trust are required to operate in conformity with the IRC to maintain the tax-exempt status of the trust. The plan administrator believes that the Plan is being operated in compliance with the applicable requirements of the IRC and, therefore, believes that the related trust is tax-exempt. U.S. generally accepted accounting principles require plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if it has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. Plan management has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2023, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. FORM 990, PART VII TRUSTEE COMPENSATION THE ORGANIZATION IS A VEBA TRUST UNDER IRC SECTION 501(C)(9). AS SUCH, THE ORGANIZATION IS GOVERNED BY A TRUST DOCUMENT ESTABLISHED AT INCEPTION. ACCORDINGLY, THE ORGANIZATION HAS AN INDEPENDENT INSTITUTIONAL TRUSTEE, JP MORGAN CHASE BANK. THIS INDEPENDENT INSTITUTIONAL TRUSTEE CONSTITUTES THE SINGLE BOARD MEMBER INDICATED IN PART VII. FORM 990, PART VI, SECTION C, LINE 19 FORMS AVAILABLE TO THE PUBLIC THE TAXPAYER DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART VI, SECTION B, LINE 11 BOARD REVIEW OF 990 THE ORGANIZATION'S INDEPENDENT ACCOUNTANT PREPARED THE RETURN AND REVIEWED THE RETURN WITH THE EMPLOYER PRIOR TO FILING. A COPY OF THE FORM 990 WAS PROVIDED TO THE ORGANIZATION'S INDEPENDENT INSTITUTIONAL TRUSTEE PRIOR TO FILING. REYNOLDS AMERICAN INC (VEBA SPONSOR) PO BOX 2866 WINSTONSALEM NC 27102 200546644 HLDG COMPANY NC NA C CORP 0 0 false false false false false false false false false false false true false false false false false false