The Internal Revenue Service is collecting comments from the public on rules that provide standards for electronically sending notices and consents for retirement plan distributions, according to a notice. It's also seeking feedback on a related notice released in June that relieves people of the requirement that a witness, like a notary public or plan representative, be physically present for certain retirement plan elections.
That guidance instead allows for the use of audio and video technology for elections in light of social distancing during the novel coronavirus pandemic, according to the notice. Comments can be sent in to the agency through Nov. 7, the IRS said.
--Editing by Joyce Laskowski.
For a reprint of this article, please contact firstname.lastname@example.org.