IRS Issues Updated ‘Safe Harbor’ 402(f) Model Notices for Retirement Plan Administrators
The Internal Revenue Service and the U.S. Department of the Treasury have updated “safe harbor” guidance on eligible rollover distributions for retirement plan participants and administrators. These updates are available through explanations, known as “402(f) notices,” that present the rollover rules and the effects of rolling over or not rolling over funds into specified retirement plans. The new guidance addresses exempt distributions as well as tax consequences, among other changes, from the 2018 guidance resulting from the COVID-19 crisis.
Click here for more information on the 402(f) notices and contact Theodore P. Stein with any questions concerning this topic.