Tag Archives: hardship

IRS Views on Self-Certification of Financial Hardship

In today‚Äôs virtual world, we suspect most plan sponsors rely upon the self-certification process to document and process 401(k) distributions made on account of financial hardship. The IRS has recently issued examination guidelines for its field agents for their use […]

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Documentation Hardship for Hardships (and Participant Loans, Too)

What is the IRS thinking about when it announces that plan sponsors, even those using a qualified TPA/recordkeeper, should maintain the records for hardship distributions and participant loans? 401(k) plans particularly (although this applies to other types of qualified plans […]

Posted in Legal Updates, Plan Administration and Compliance, Tax-qualified Retirement Plans | Tagged , , , | Leave a comment