The recently enacted Worker, Retiree, Employer Recovery Act of 2008 permits participants in defined contribution plans as well as IRA owners to forgo the required minimum distribution attributable to 2009. The IRS has now issued guidance to financial institutions as to their reporting obligations.
Document Excerpt
This notice provides guidance to financial institutions on reporting required minimum distributions for 2009 after enactment of the Worker, Retiree, and Employer Recovery Act of 2008, P.L. 110-458.
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