### Question
What is the definition of current liability?


### Answer
The definition of **current liability** is as follows in *26 U.S.C. § 431*:

> all liabilities to employees and their beneficiaries under the plan

#### Citation:
  - *26 U.S.C. § 431*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter D-Deferred Compensation, Etc. > PART III-RULES RELATING TO MINIMUM FUNDING STANDARDS AND BENEFIT LIMITATIONS > Subpart A-Minimum Funding Standards for Pension Plans**

