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About this Blog
Welcome to the Snell & Wilmer Benefits Blog. We will be posting about current employee benefits and executive compensation topics and issues. We invite you to contact the authors with your thoughts or questions.Blog Contributors
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Hardship Distribution Changes – Tax Reform May Have Unintended Consequences
When tax reform proposals were floating around in the fall of 2017, several early proposals to the Tax Cuts and Jobs Act (the “Act”) included changes to the hardship distribution rules for qualified retirement plans. However, the final version of … Continue reading
Posted in Employee Benefits, Qualified Retirement Plans
| Tagged casualty loss, hardship, hardship distributions, Internal Revenue Code, IRS, tax reform
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Did Hardship Distributions Just Get Easier?
In a previous blog, we addressed an issue of Employee Plans News in which the IRS took the position that 401(k) plan administrators must maintain hardship distribution records and should not rely on electronic participant self-certification for hardship distributions. On … Continue reading
Posted in Employee Benefits, Qualified Retirement Plans
| Tagged e-certify, electronic, Employee Plan News, Employee Plans Examiners, hardship, hardship distributions, IRS, self-certification
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Electronic Self-Certification for Hardship Distributions is Not Sufficient
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 hardship distributions. The IRS indicated that plan sponsors … Continue reading
Posted in Employee Benefits, Qualified Retirement Plans
| Tagged electronic self-certification, hardship, hardship approval, hardship distributions, IRS, qualified retirement plans
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