IRS Extends Bodily Attendance Aid To Retirement Plans | Laner Muchin, Ltd.

As we reported back in 2020, the IRS granted a temporary exemption from the physical attendance requirement as part of the voting and spouse consent regulations for certain retirement plans. In general, these rules require certain participant elections and spouse consents to be certified by a notary or a pension representative. However, under the exoneration guidelines, such personal testimony is not required as long as certain conditions are met.

In the 2021-40 notice, the IRS extended this relief for 12 months to June 30, 2022. Based on the IRS request for comments and taking into account current technological capabilities and ease of access, this relief may become permanent.

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