BG5150 Posted December 4, 2008 Posted December 4, 2008 Do the regs define what "immediate" need is? We have always used the "must have bill or threatening letter in hand" approach, but does the law further address what an immediate financial need is? QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
Guest Sieve Posted December 4, 2008 Posted December 4, 2008 Other than as part of Treas. Reg. Section 1.401(k)-1(d)(3)(iii)--which includes the safe harbors and a statement that even a voluntarily or forseeably incurred expense can still be considered immediate & heavy--I don't believe there is any other guidance (e.g., EP Examination Guidelines offer no help).
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