Date: Wed, 8 Jan 1997 15:56:09 -0500 Subject: Newsletter: IRS Notice 97-6 re SIMPLE Plans ................. BenefitsLink Newsletter ............. { { Free, useful information about U.S. tax and labor laws { and new Internet resources, for employee benefit plan { sponsors, service-providers and participants. ......................................................... ..................IRS NOTICE 97-6 NOW ON THE WEB ......... IRS Notice 97-6 provides a lengthy set of questions and answers about "SIMPLE plans," which became available on January 1 of this year due to recent changes in the tax code. The notice is available for viewing now without charge, at http://www.benefitslink.com/IRS/97-6.html (The notice is not scheduled to be published in the official Internal Revenue Bulletin until the January 13 issue.) The notice discusses SIMPLE plans that are funded by employees' IRAs. It does not address 401(k) plans that are designed to qualify as SIMPLE plans. (The 401(k) SIMPLE provisions are addressed in Revenue Procedure 97-9, which is not yet available on the Web.) Notice 97-6 provides important details for employers who are using IRS Form 5305-SIMPLE to establish a SIMPLE plan under which all of the contributions are paid to a particular IRA custodian, trustee or annuity issuer. It also tells an employer how to modify that form if the employer wishes to allow participating employees to use their own IRA custodians (or trustees or annuity issuers) to receive their SIMPLE plan contributions. ................. BenefitsLink Newsletter ............... { { To unsubscribe: send email to majordomo@benefitslink.com { with "UNSUBSCRIBE newsletter" in the text of the email { without the quotation marks. { { To subscribe: send email to majordomo@benefitslink.com { with "SUBSCRIBE newsletter johndoe@wherever.com" in the { text of the email without the quotation marks, using { your email address rather than johndoe's. { { Your email address is not sold or leased to junk mailers { or any other organization ... no spam, just BenefitsLink! { { To contribute information for publication or to learn { more about sponsoring an issue of the newsletter, please { reply to newsletter@benefitslink.com. { { BenefitsLink is the national employee benefits Web site { at http://www.benefitslink.com -- Dave Baker, Editor.