New Loan Offset Rules

Beginning in 2018, the new law extends the 60-day rollover deadline to the participant’s tax return due date (including extensions) for the year the loan offset occurred. The new 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 your Watkins Ross Retirement Plan Administrator. You can also let us know here if you have someone in your personal network that would like to discuss these changes.

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