Many plan sponsors face the issue of what to do with uncashed checks. Even if the check is sent to the correct address, the participant or former participant may not cash the check. The IRS issued a Revenue Ruling (Revenue Ruling 2019-19 – Failure to Cash a check From a Qualified Plan) which might influence […]
401k, distributions, IRS, uncashed checksThe IRS has noted on its website page Hardship Distribution Tips from EP Exam that despite the growing trend for plans to grant hardships to participants who electronically apply for hardship distributions using their PIN and self-certifying that they meet the hardship criteria, the IRS examiner will still look for the documentation to ensure that […]
401k, hardship withdrawals, IRS examiner(c) 2015 Erisa Diagnostics - We focus on benefits, so you can focus on business