QERP

qualifying employer real property (QERP)

USA

Real property that is owned by an employee benefit plan and leased back to the employer of employees covered by the plan, or to the employer's affiliate. To be qualifying, the parcels of real property must meet the following conditions:

• A substantial number of the properties must be disbursed geographically.

• Each of the properties must be suitable (or adaptable without excessive costs) for more than one use.

• The properties must be held without violation of the Employee Retirement Income Security Act of 1974 fiduciary rules (except the diversification and prohibited transaction rules) and certain other requirements.

All of the parcels of real property can be leased to one lessee. A plan's acquisition and holding of QERP is not a prohibited transaction if these conditions are met.