The article reports that the Final Internal Revenue Service (IRS) 403(b) plan rules will impose a new requirement on employers to maintain a written plan document as well as offer the plans to more emp...
Prior to the issuance of the final Treasury Regulations under Section 403(b) in 2007 (the “Section 403(b) Regulations”), no rules existed as to whether a Section 403(b) plan could be terminated for tax purposes and, if so, how to do it. Thus, while employers could freeze their Sec...
This section presents a summary of the article IRS Proposes a Major Revision of the Regulations Governing Section 403(b) Plans, by Stanley D. Baum, which appeared in the April 2005 issue of Journal of Taxation. On November 16, 2004, the U.S. Internal Revenue Service released proposed regula...
Phone:Call 1-800-559-2900 and one of our representatives will be happy to assist you. On-Line:To open an IRA (403b, IRA Rollover, 401k Rollover, SEP, Roth, etc.) fill out and submit this New Standard Account Application By Mail:VisitAtlantic Financial's New Account areaandDownload an...
The SECURE Act made a number of changes to the RMD rules, most notably (1) increasing the age at which retirement savers must begin to receive distributions from their retirement benefits from April 1 following the year in which the participant reaches age 70½ to April 1 following ...
31, 2020, with June 30, 2020. For example, the rules for the recurring remedial amendment periods for 403(b) individually designed plans now will apply to form defects first occurring after June 30, 2020, and the second cycle for 403(b) pre‑approved plans will be...
Don’t make the mistake of glossing over the newest retirement plan rules and regulations going into effect in 2020. The IRS has recently released a variety of new standards that directly (and positively) impact qualified retirement plans, employees, and plan administrators. But administrator...
IRS Publication 571 describes various elements of 403(b) plans, including rules about contributions, rollovers, and distributions. A 403(b) account, like a 401(k), is a tax-advantaged retirement account offered by an employer: in this case, public schools and tax-exempt organizations. Be su...
IRS Issues New Simplified Rules for Required Minimum Distributions.The article focuses on the issuance by the U.S. Internal Revenue Service of simplified rules for required minimum distributions from qualified retirement plans, individual retirement accounts and 403(b) plans in 2001. Information on ...
Focus on...Tax-Sheltered Annuity Plans Under Code Section 403(b): Part 1 - General Rules and Limitations on Contributions Subject to a complex set of rules, tax-sheltered annuity plans (TSAs) have recently come under increased scrutiny by the IRS. This outline of the general rules and li...