Beginning in 2018, the new law extends the 60-day rollover deadline to the participant’s tax return due date for the year the loan offset occurred.
New Loan Offset Rules
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Rollover
Automatic Rollover Rules
The Economic Growth and Tax Relief Reconciliation Act of 2001 (“EGTRRA”) changed the cash-out rule to require that account balances between $1,000 and $5,000 must be rolled over to an individual retirement account (“IRA”). This only applies if the plan sponsor makes...