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Retirement Plan › 401k › Self-Certification

Holland & Hart - The Benefits Dial

Easy Money…Self-Certify Your Hardships Away

Holland & Hart - The Benefits Dial on

If a 401(k) or 403(b) plan permits employees to take in-service hardship withdrawals in the event of an immediate and heavy financial need, new legislation provides that, effective for plan years beginning in 2023, employers...more

Proskauer - Employee Benefits & Executive...

The Time is Right to Contact Recordkeepers About Hardship Substantiation

Proskauer - Employee Benefits & Executive... on

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

Bradley Arant Boult Cummings LLP

New Self-Certification Procedure for Late Rollovers

Bradley Arant Boult Cummings LLP on

The Internal Revenue Service (IRS) has issued Revenue Procedure 2016-47, which provides for a new self-certification procedure for participants who receive retirement plan distributions but inadvertently miss the 60-day time...more

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