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IRS Reveals Retirement Plan Compliance Initiatives The agency plans to examine worker classifications, RMDs in large DB plans and participant loans, as well as do a compliance check about partial plan termination and partial vesting, among other things. Reported by The IRS Tax Exempt & Government Entities Division (TE/GE) has a released a new 2021 Program Letter to update its compliance initiatives for its fiscal year. The agency says it will continue to pursue its compliance program described in the 2020 Program Letter. The letters for both years are available on a webpage the IRS will use t...

16 Ways to Withdraw Money From Your 401k Without Penalty By Jim Blankenship When hard times befall you, you may wonder if there is a way withdraw money from your 401k plan. In some cases you can get to the funds for a hardship withdrawal, but if you’re under age 59½ you will likely owe the 10% early withdrawal penalty. The term 401k is used throughout this article, but these options apply to all qualified plans, including 403b, 457, etc.. These rules are not for IRA withdrawals (although some are similar) – see the article at this link for 19 Ways to Withdraw IRA Funds Without Penalty.