Retirement Plans - IRA, 401(k) & 403(b) plans

Representation of individuals with tax issues involving retirement plans, including audits and compliance issues such as Form 5500-EZ and prohibited transactons. 

Key IRC sections for 401(k) and 403(b) plans

• § 401(a) covers the qualification requirements for 401(k) plans.  
  (a)(9): required minimum distributions
  (a)(17): the compensation limit
  (a)(26): minimum participation (defined benefit plans only)
  (a)(31): direct rollovers
  

• § 401(k) covers cash or deferred arrangements:(k)(2): distribution restrictions and vesting of deferrals
  (k)(3): the ADP test
  (k)(11): SIMPLE 401(k)
  (k)(12) and (k)(13): safe harbor and QACA designs
  

Distributions, rollovers, and loans

• § 402(c): rollovers. § 402(f): the rollover notice.

• § 72(p): participant loans. § 72(t): the 10% early withdrawal tax and its exceptions.

Excise taxes and trust status

• § 501(a): tax exemption for a qualified plan's trust.

• § 4972: nondeductible contributions.

• § 4973: excess contributions to 403(b)(7) custodial accounts.

• § 4974: missed RMDs. SECURE 2.0 lowered this tax to 25%, or 10% if corrected in time.

• § 4975: prohibited transactions.

• § 4979: excess ADP and ACP contributions.