IRS permits rollover of retirement annuity contract that passes through a marital deduction

Article Abstract:

The IRS has approved a tax-free spousal rollover of a deceased person's pension benefits that went through an estate trust before being placed in an IRA. Such transactions are usually prohibited if the rollover is not made directly from the plan to the IRA. In this case, the IRS ruled that, as the estate had no discretion as to the ultimate location of the money, it could be ignored, ie- not treated as step on the rollover.

Methods, Estate planning

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UCA rollover rules amplified in new guidance addressing plan loans, minimum distributions, and NUA withholding

Article Abstract:

The IRS has issued proposed rules on rollover requirements for qualified pension plan distributions reflecting changes made by the Unemployment Compensation Amendments of 1992. The conditions for deeming a loan from a qualified plan a distribution are addressed. A transitional period exempting from liability plan sponsors who fail to withhold the amount required by law from an offset distribution is also provided for.

Management, Withholding tax

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Service provides transition relief and guidance for eligible rollover distributions

Article Abstract:

The IRS has issued Notice 99-5 which provides guidance regarding the exception to the eligibility requirements for rollover distributions in cases of hardship under IRC sections 402(c)(4) and 403(b)(8)(B). The exception to the definition of eligible distributions was clarified in response to problems of plan administrators in making plan changes complying with the law.

United States, Employee Benefits & Services, Human resource management, Employee benefits, Hardship (Law)

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