News & Analysis as of

Recordkeeping Requirements Hardship Distributions

Proskauer - Employee Benefits & Executive...

The Time is Right to Contact Recordkeepers About Hardship Substantiation

If your 401(k) plan recordkeeper has not talked to your company lately about hardship distributions, it may be time to reach out to the recordkeeper. The short story is that the IRS recently issued an internal memorandum...more

Snell & Wilmer

Electronic Self-Certification for Hardship Distributions is Not Sufficient

Snell & Wilmer on

In its April 1, 2015 Employee Plans News, the IRS stated that defined contribution plan sponsors must maintain hardship distribution records and that plan sponsors cannot rely on electronic participant self-certification for...more

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