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ITG FAQ #9 Answer-Can an Indian tribal government set up a 401(k) plan with contributions based on section 7873 income?

Yes. The IRS released proposed regulations clarifying that amounts paid to Indian tribal members as compensation for services performed in a fishing rights-related activity may be treated as compensation and contributed to a 401(k) plan. The proposed regulations can be found here.

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Page Last Reviewed or Updated: 15-Nov-2013