Company: ABBV
Filing Date: 2025-06-13
Form Type: 11-K
Source: 0001104659-25-059360
Chunk: 12

Company: AbbVie Inc.
Filing Date: 2025-06-13
Form: 11-K
Chunk 12
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 no intention of terminating the Plan.

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AbbVie Savings Plan

NOTES TO FINANCIAL STATEMENTS - CONTINUED

December 31, 2024 and 2023

NOTE F - TAX STATUS

The Plan has received a determination letter from
the IRS dated August 20, 2018, stating that the Plan is qualified under Section 401(a) of the IRC, and, therefore, the related trust is
exempt from taxation. Subsequent to this determination by the IRS, the Plan was amended and restated. Once qualified, the Plan is required
to operate in conformity with the IRC to maintain its qualified status. The Plan administrator believes the Plan is being operated in
compliance with the applicable requirements of the IRC and, therefore, believes the Plan, as amended and restated, is qualified and the
related trust is tax-exempt.

Accounting principles generally accepted in the
United States of America require Plan management to evaluate tax positions taken by the Plan and recognize a tax liability if the Plan
has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS or other applicable taxing
authorities. The Plan administrator has analyzed the tax positions taken by the Plan and has concluded that there are no uncertain positions
taken or expected to be taken. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for
any tax periods in progress.

NOTE G - SUBSEQUENT EVENTS

Effective January 1, 2025, ImmunoGen, Inc., a
wholly owned subsidiary of AbbVie as of February 12, 2024, became a participating employer in the Plan. On March 3, 2025, the ImmunoGen,
Inc. 401(k) Plan and Trust merged into the Plan and net assets totaling approximately $62.6 million were transferred into the Plan.

Also effective January 1, 2025, Cerevel Therapeutics,
LLC, a wholly owned subsidiary of AbbVie as of August 1, 2024, became a participating employer in the Plan. On March 3, 2025, the Cerevel
Therapeutics LLC 401(k) Plan merged into the Plan and net assets totaling approximately $41.4 million were transferred into the Plan.

AbbVie has evaluated subsequent events and other
than previously disclosed, there were no additional subsequent events that require recognition or additional disclosure in these financial