Plan administrators (often small business owners) are required to provide notice to plan participants regarding “eligible rollover distributions” (distributions that can be moved to another plan and are not mandatory, such as required minimum distributions). The IRS issued safe harbor notices that can be used for distributions from designated Roth accounts and for non-Roth accounts. These notices replace safe harbor notices issued in 2020. The reason for the new notices: law changes from SECURE Act 2.0 and other recent legislation. #IdeaoftheDay
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