What federal laws govern structured settlements?

The Periodic Payment Settlement Act (PPSA) and Internal Revenue Code Section 104(a)(2) are key federal laws governing structured settlements, ensuring tax-free status and establishing transfer requirements.

Are structured settlement payments tax-free?

Yes, structured settlement payments are generally tax-free under federal law, provided they meet certain requirements established in the Internal Revenue Code.

Do federal laws require court approval?

While federal law establishes the framework, individual states have their own structured settlement protection acts that require court approval for transfers.

What is the Periodic Payment Settlement Act?

The PPSA is federal legislation that protects structured settlement recipients and establishes requirements for transfers, ensuring consumer protections across all states.

Structured Settlement Federal Law | Smarter Payouts

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