IRS Issues Guidance on In-Plan Roth Rollovers under 401(k) and 403(b) Plans
The IRS recently issued Notice 2010-84, which provides a series of questions and answers concerning how employers that sponsor 401(k) plans and 403(b) plans (Plans) may implement in-plan Roth rollovers as permitted under the Small Business Jobs Act of 2010 (Act). The guidance addresses topics such as the deadlines for amending Plans to include an in-plan Roth rollover feature, the categories of individuals who may elect in-plan Roth rollovers, the types of information that should be provided to participants in a Plan that permits in-plan Roth rollovers and how various rules under the Internal Revenue Code (Code) apply to in-plan Roth rollovers.
The material contained in this communication is informational, general in nature and does not constitute legal advice. The material contained in this communication should not be relied upon or used without consulting a lawyer to consider your specific circumstances. This communication was published on the date specified and may not include any changes in the topics, laws, rules or regulations covered. Receipt of this communication does not establish an attorney-client relationship. In some jurisdictions, this communication may be considered attorney advertising.