New Loan Offset Rules

Beginning in 2018, the new loan offset rules extended the 60-day rollover deadline to the participant’s tax return due date (including extensions) for the year the loan offset occurred. This rule gives participants more time to deposit the funds and avoid unexpected taxation.

To learn more, read ERISA attorney Ilene Ferenczy’s article The New Tax Bill Is Enacted – What Does This Mean For Retirement Plans?

If you are unsure if/how the changes affect your plan participants, please contact Watkins Ross.

Related Articles You Might Like
Retirement Plan Enrollment Best Practices

Retirement Plan Enrollment Best Practices

January 1st is possibly the biggest enrollment period for retirement plans.  After communicating to an employee that they are eligible for the plan, it’s important to be sure each employee completes the necessary forms. An enrollment form should be provided to each...

read more