The IRS recently issued Notice 2022-27, providing a six-month extension of the temporary relief from the physical presence requirement for certain plan elections (including spousal consents) required to be witnessed by a plan...more
As the COVID-19 pandemic drags on, administrators of defined benefit pension plans continue to field questions about the notary requirement related to certain participant and spousal elections. For qualified retirement plans...more
Certain elections made by participants and spouses under retirement plans must be signed “in the physical presence of a plan representative or a notary public.” The IRS provided relief from this physical presence requirement...more
The IRS issued Notice 2021-40 (the Notice) on June 24 that provides a 12-month extension (until June 30, 2022) of the temporary relief from the requirement that certain retirement plan elections be witnessed – in person – by...more
Seyfarth Synopsis: The IRS has extended the remote notarization relief that gives plans and participants greater flexibility for participant elections, including spousal consents, that must be signed in person and witnessed...more