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Proposed IRS Regs Make Handling Forfeitures Less Burdensome
Graydon Link to more items from this source
[Guidance Overview]
Mar. 3, 2023

"To comply with these proposed regulations, plan sponsors will eventually need to amend their plan documents to account for the 12-month deadline for use of forfeiture amounts.... [A] plan which only permits forfeitures to be used for administrative expenses may run into compliance trouble if the forfeitures exceed plan expenses and there is a surplus at the end of the 12-month usage deadline."

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