dv13 Posted October 12, 2018 Posted October 12, 2018 This may not be the most appropriate board to post the message, but I'll roll the dice. I cannot find anything specific on this topc. Even the regulations on 401(k) hardship documentation do not actually state what length of time the plan sponsor must keep these records - just that it must. Does that mean there is no time frame and records are to be kept indefinitely? Or would 7 years be sufficient? What my client really wants to know is what is the shortest amount of time that these records must be kept?
XTitan Posted October 12, 2018 Posted October 12, 2018 The answer shouldn't be any different than how long to keep any tax record: it depends. Could be three years, seven years, or indefinitely. I always say that before you throw something away, you should make a copy of it, just in case... - There are two types of people in the world: those who can extrapolate from incomplete data sets...
Kristina Posted October 16, 2018 Posted October 16, 2018 Participant records should be retained until the participant claims against the plan are resolved. That could be for the life of the PLAN. Kristina
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now