Extension to the Prepayment Window Period in Puerto Rico Finally Approved

As previously reported, Act 77 of July 1, 2014 (“Act 77”) provided a period during which participants in retirement plans could prepay, at a reduced tax rate, the amounts accumulated under such plans.  The original window period covered from July 1, 2014 through October 31, 2014.  On December 22, 2014, however, Puerto Rico Governor signed into law SB 1189 (now, Act 238 of December 22, 2014) which, amongst other provisions, extends the aforementioned period until January 31, 2015.  

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