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IRS Releases Guidance and Sample Amendment on Automatic Rollovers to an IRA
FIS Relius 
Jan. 5, 2005
Excerpt: EGTRRA modified Code §401(a)(31)(B) to provide that mandatory distributions (e.g., involuntary cash-outs) of more than $1,000 and not more $5,000 be automatically rolled over to an IRA if the participant fails to make an affirmative election to receive the distribution or have it rolled-over to another qualifying vehicle. The new rules were not effective until the DOL issued final regulations addressing the fiduciary issues. On September 28, 2004, the DOL issued final regulations[.]
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