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Comment Period: Use of an Electronic Medium To Make Participant Elections and Spousal Consents

AGENCY:

Internal Revenue Service (IRS), Treasury.

ACTION:

Notice of proposed rulemaking and notice of public hearing.

SUMMARY:

This document sets forth a proposed regulation relating to the use of an electronic medium for participant elections and spousal consents. The proposed regulation provides an alternative to in-person witnessing of spousal consents required to be witnessed by a notary public or a plan representative, and clarifies that certain special rules for the use of an electronic medium for participant elections also apply to spousal consents. The proposed regulation generally affects sponsors and administrators of, and individuals entitled to benefits under, certain qualified retirement plans. This document also provides a notice of a public hearing.

DATES:

Written or electronic comments must be received by March 30, 2023. A telephonic public hearing on this proposed regulation has been scheduled for April 11, 2023, at 10:00 a.m. ET. Requests to speak and outlines of topics to be discussed at the public hearing must be received by March 30, 2023. If no outlines are received by March 30, 2023, the public hearing will be cancelled. Requests to attend the public hearing must be received by 5:00 p.m. ET on April 7, 2023. The public hearing will be made accessible to people with disabilities. Requests for special assistance during the public hearing must be received by April 6, 2023.

  • March 30, 2023
  • Time: All Day
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