Subject: BL-Newsletter: Paperless Administration Proposed Regulations from IRS Date: Fri, 18 Dec 1998 12:00:19 -0500 ================================================== BenefitsLink Newsletter Free, useful information about U.S. tax and labor laws and new Internet resources, for employee benefit plan sponsors, service-providers and participants. ================================================== TO CONSENT TO YOUR PLAN DISTRIBUTION, CLICK HERE The IRS today issued proposed regulations on the paperless administration of tax-qualified retirement plans. They are published online (natch!) at http://www.benefitslink.com/taxregs/paperless.shtml Excerpt: These proposed regulations permit the use of electronic media for the transmission of certain notices and consent required for distributions from qualified plans. Using flexible standards -- rather than detailed requirements -- the proposed regulations: * Permit electronic delivery of the notice of distribution options and the right to defer under section 411(a)(11), the rollover notice under section 402(f), and the voluntary tax withholding notice under section 3405(e)(10)(B); * Permit participant consent to a distribution under section 411(a)(11) to be given electronically; and * Permit a plan to provide the section 411(a)(11) and section 402(f) notices more than 90 days before a distribution, if the plan provides a summary of the notices within 90 days before the distribution. ================================================== You can unsubscribe by sending email to majordomo@majordomo.net with "unsubscribe BL-newsletter" in the body of the message. Anyone can subscribe by sending email to majordomo@majordomo.net with "subscribe BL-newsletter" in the body of the message. This newsletter is published without charge by BenefitsLink, http://www.benefitslink.com/ Visit our sister site at http://EmployeeBenefitsJobs.com/