IRS Puts Qualified Plans (solo 401k) and IRAs on Its 2019 Priority List

On April 5, 2019, the IRS  released the 2018-2019 fiscal year Priority Guidance Plan (PGP).

The items on this list are similar to a wish list that the IRS plans in addressing each year, and some carry over from prior years.

Here are some of the items listed in this years guidance as they relate to solo 401k plans, IRAs and ROBS 401k plans.

  • Regulations under Internal Revenue Code Section (IRC Sec.) 401(a)(9) updating life expectancy and distribution period tables for purposes of the required minimum distribution (RMD) rules
  • Guidance on hardship distributions from employer-sponsored retirement plans (in response to the Balanced Budget Act of 2018 provisions)
  • Guidance on missing retirement plan participants
  • Guidance on Traditional and Roth IRAs, Including contributions and excise taxes
  • Affiliated service group guidance
  • Additional guidance on lifetime income payments from employer plans and I

 

 

 

About Mark Nolan

Each day I speak with energetic entrepreneurs looking to take the plunge into a new venture and small business owners eager to take control of their retirement savings. I am passionate about helping others find their financial independence. Having worked for over 20 years with some of the top retirement account custodian and insurance companies I have a deep and extensive knowledge of the complexities of self-directed 401ks and IRAs as well as retirement plan regulations. Learn more about Mark Nolan and My Solo 401k Financial >>

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