President Biden signed the Consolidated Appropriations Act, 2023, on December 29, 2022, which includes the package of retirement plan legislation known as “SECURE 2.0.” SECURE 2.0 contains numerous significant changes for...more
In an internal memorandum to its examination agents dated February 23, 2017, the Internal Revenue Service (IRS) issued guidance regarding the types of documentation that agents should request in verifying hardship withdrawals...more
In a recent Employee Plans Newsletter, the Internal Revenue Service (IRS) warned plan sponsors that they must obtain and keep documentation related to hardship withdrawals, particularly the documentation necessary to...more