Next IRS Target: College and University Retirement Plans

First, it was K-12. Now, it's higher education. It's the IRS's next featured project. In fact, the IRS web page refers to it as that:

Employee Plans Compliance Unit (EPCU) - Featured Project - 403(b) Universal Availability Higher Education

As part of a a larger compliance initiative, the IRS is now zeroing in on the 403(b) plans that colleges and universities sponsor. Plan fiduciaries must take note.

Over 300 large, small, public, and private higher education institutions will receive a 21-item questionnaire from the IRS. Make sure to respond.

Please see full alert below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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