Plans Must Notify IRS of Change in “Responsible Party”

Any entity with an EIN, including a retirement plan, must, starting January 1, 2014, use Form 8822 B to report a change in the identity of its responsible party.

Document Excerpt

 For retirement plans, “responsible party” is the person who has a level of control, directly or indirectly, over the funds or assets in the retirement plan. See the instructions to Form 8822-B, page 2, for a detailed definition of “responsible party” and an explanation of who must sign the form.

Link http://www.irs.gov/pub/irs-tege/epn_2013_8.pdf

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