Internal Revenue Bulletin: 2008-38
September 22, 2008
Final regulations under section 408A of the Code provide guidance concerning the tax consequences of converting a non-Roth IRA annuity to a Roth IRA.
This notice expands the availability of the transition relief for certain small pension plans that was originally provided in Notice 2008-21, 2008-7 I.R.B. 431. This expanded transition relief is needed because technical corrections to the Pension Protection Act of 2006 (PPA) have not yet been enacted. This guidance will expand the transition relief provided in Notice 2008-21 to apply to plans with end-of-year valuation dates for 2006 and 2007, regardless of the valuation date used for 2008.
Weighted average interest rate update; corporate bond indices; 30-year Treasury securities; segment rates. This notice contains updates for the corporate bond weighted average interest rate for plan years beginning in September 2008; the 24-month average segment rates; the funding transitional segment rates applicable for September 2008; and the minimum present value transitional rates for August 2008.
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