"If the participant isn't electing to withhold anything now (understanding that withholding isn't mandatory on a hardship), can the amount taken still be grossed up to include an amount to cover taxes to be paid later? I see discussions here on how to actually figure out how much is an appropriate amount to gross up -- we're going with a simple 20% of the amount requested, for better or worse. But I don't see anything that says that if you're not electing to have the taxes withheld now, that takes away the ability to have the distribution increased for the taxes that will be due, so long as you're still under the amount that you have available under the terms of the plan."

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"From what I read the 10% penalty is still due on a hardship withdrawal unless the participant is 59 1/2. The participant asking for the withdrawal is only 40 and it is a construction expense (he said he over-built) for his prmary residence. This is from a qualified plan. Is there any relief from the 10% for this participant? I just want some more back-up because he is relentless on the WHY?"

"I was reviewing the Form 720 the IRS revised in March 2023 and noticed in IRS no. 133 has last year's data listed (date and fees). Has anyone else noticed this, too? Or am I missing something? If I am not losing it does anyone know when the IRS plans to send out an updated version? https://www.irs.gov/pub/irs-pdf/f720.pdf"

"We recently moved our plan to a new RK. There was one beneficiary of a former employee who was missed from the blackout mailing. Can we send a copy of the original blackout notice that was sent? The plan just went live with the new RK last week."

"If the rank and file employee terminates and gets paid out during 2022 leaving only the owner/sponsor as a plan participant as of 12/31/22 would the filing for 2022 be a 5500-SF or 5500-EZ? Would it matter if the terminated participant got a contribution for 2022 thus benefiting under the plan for 2022?"