k man Posted July 17, 2001 Posted July 17, 2001 The final regulations on loans (1.72(p)) discuss the concept of paperless loans and the conditions in which they will be pemissable. However, the Regulations say nothing about spousal consents in the case of J and S plans. Wouldn't this be an issue precluding a paperless loan in the case of these J&S plans? Any comments would be appreciated.
R. Butler Posted July 17, 2001 Posted July 17, 2001 Unless something has changed recently spousal consent still must be written. The final regs. issued in 2000 on paperless administration noted that the IRS couldn't provide for electronic spousal consents because a notary of public or plan administrator witnesses the signature. This presupposes that he/she is present when the spouse consents. Hope this helps.
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