Pre-approved retirement plan FAQs; latest covered compensation tables; Saver’s Credit

Pre-Approved Retirement Plan Adopting Employers FAQs

These FAQs can help you determine how to switch to a pre-approved plan, when you need to adopt a new version of your pre-approved plan and more.

Notice 2018-74

This notice modifies the two safe harbor explanations in Notice 2014-74 that must be provided to recipients of eligible rollover distributions. It considers recent guidance and law changes, including changes related to qualified loan offsets made by the Tax Cuts and Jobs Act of 2017.

Form 8880

Use Form 8880, Credit for Qualified Retirement Savings Contributions, to figure the amount, if any, of your Saver’s Credit. For 2018, you can take the Saver’s Credit for traditional and Roth IRA contributions, ABLE contributions by the designated beneficiary, and salary deferrals or other employee contributions to a 401(k) or other qualified retirement plan.

Form 8915

Use Form 8915A, Qualified 2016 Disaster Retirement Plan Distributions and Repayments, if you were adversely affected by a 2016 disaster and you received a distribution that qualifies for favorable tax treatment.

Use Form 8915B, Qualified 2017 Disaster Retirement Plan Distributions and Repayments, if you were adversely affected by a 2017 disaster and you received a distribution that qualifies for favorable tax treatment. Both qualified 2017 disaster distributions and repayments of qualified 2017 disaster distributions can be made in 2018.

Revenue Ruling 2019-06: Covered Compensation Tables

IRS updated the tables of covered compensation under Internal Revenue Code Section 401(l)(5)(E) for the 2019 plan year. These tables are used to determine contributions to defined benefit plans and permitted disparity.

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Find answers to many retirement plan questions on IRS.gov at Retirement Plans and Retirement Plan Forms and Publications.

If you need help with an account-specific question, basic information about retirement plan forms or the status of pending applications, call our Customer Account Services at 877-829-5500.

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