cpc0506 Posted July 24, 2020 Posted July 24, 2020 Can a client remove Roth from a safe harbor plan mid-year? I don't see any rules precluding this. Only 30 days notice as Annual Contribution notice is affected. Your thoughts?
Luke Bailey Posted July 25, 2020 Posted July 25, 2020 cpc0506, I agree it does not seem to be prohibited by Notice 2016-16, and therefore would appear to be permitted. But I believe that the ability to do Roth is required to be included in the annual safe harbor notice, so you would need to follow the notice provisions of Notice 2016-16 for changes that affect annual notice. Luke Bailey Senior Counsel Clark Hill PLC 214-651-4572 (O) | LBailey@clarkhill.com 2600 Dallas Parkway Suite 600 Frisco, TX 75034
Gilmore Posted July 25, 2020 Posted July 25, 2020 Just curious why they want to remove Roth mid year? Were there payroll errors or something they want to avoid in the future?
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