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IRS Code Section 6057(e)

Guest bgrazetti

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Guest bgrazetti

One of my Money Purchase plans is scheduled for an IRS audit. One of the items the IRS has requested are "copies of the statements required under Code section 6057(e), as given to those who terminated participation in the plan during the year(s) under examination."

I have been unable to find any information concerning this code section. Does anyone know what they are requesting?


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I just looked this up on the US Code here on Benefits Link. Here is what it says under 6057(e):

(e) Individual statement to participant

Each plan administrator required to file a registration statement

under subsection (a) shall, before the expiration of the time prescribed

for the filing of such registration statement, also furnish to each

participant described in subsection (a)(2)© an individual statement

setting forth the information with respect to such participant required

to be contained in such registration statement. Such statement shall

also include a notice to the participant of any benefits which are

forfeitable if the participant dies before a certain date.

It looks to me to be the just annual participant statements. If you want to read the whole section, go to http://benefitslink.com/buzz/new.shtml and click on the Internal Revenue Code over to the left. Then click on the first choice..."code sections relative to employee benefits" or something like that. Once there you can scroll down to 6057. Hope this helps.

Sorry for the two edits, I go to everything automatically on my computer, so I wasn't being careful about the references. These should be correct now!

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6057(e) is referring to a statement of benefits that must be given to terminated employees.

From the 5500 Instructions for line 7i comes this: "CAUTION! Code section 6057(e) provides that the plan administrator must give each participant a statement

showing the same information reported on Schedule SSA for that participant."

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