Final 401(k) Regulations Client Memorandum
In December, 2004, the Internal Revenue Service issued final 401(k) regulations. These regulations replace regulations that were issued in 1994. For the most part, the new regulations merely update the old regulations to reflect a number of changes that have taken place in the law between then and now, but there are also a few substantive changes. As discussed below, the IRS has set a deadline for all 401(k) plans to be updated for these final regulations. Action will be required on your part, even if you are not directly affected by any of the changes made by the final regulations.