Caroline Martinez
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Thank you for the support here! We issued the 5 year loan and explained the delay in payment option to PP, fingers crossed it'll indeed end up being close to the 72 month time frame for his benefit.
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We have a participant who requested a 72 month loan today and we're also navigating those waters. We can issue the CRL for 60 months and extend the 12 months for payment but not issue a 72 month personal loan - or at least that is my understanding. IRS Guidance would be much appreciated here.
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Secure Act - RMD Changes - Amendment Needed?
Caroline Martinez replied to Stash026's topic in 401(k) Plans
Not sure the changes are optional. The new Uniform Tables will be issued to be used for 2021 RMD's and they take into account the later age requirement for those under the old and the new rules. I understand it is difficult to revise a current process to include both RMD groups but I didn't perceive it as anything other than mandatory?
