Proposed regulations clarify that Indian tribal members who earn compensation for services they perform in fishing rights-related activities may contribute those amounts towards a qualified retirement plan. Internal Revenue Code Sections 415(b) and (c) impose limits on retirement plan contributions from compensation. Section 415(c) defines what constitutes “compensation.” The proposed guidance would add a new item to Treasury Regulations Section 1.415(c)-2(b) clarifying that income from an Indian fishing rights-related activity is compensation. The new regulations would affect employee benefit plans sponsored by Indian tribal governments, their plan participants and tribal members. You can view the proposed regulations by reading the Federal Register announcement.