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IRS Provides Updated Model 402(f) Notices -- for SECURE Act Changes That Do Not Necessitate a 402(f) Notice!
Hall Benefits Law [Guidance Overview] Aug. 12, 2020 "[T]he new 402(f) Notices ... update the two safe harbor explanations provided ... in IRS Notice 2018‑74, to reflect ... [1] The new exception to the 10 percent early withdrawal tax for in-service qualified birth or adoption distributions; and [2] The increase in age ... for required minimum distributions for employees born after June 30, 1949. Although [Notice 2020-62] contemplates coronavirus-related distributions, the 402(f) Notices do not reflect any changes in connection with those distributions." |
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