Information For...

For you and your family
Standard mileage and other information

Forms and Instructions

Individual Tax Return
Request for Taxpayer Identification Number (TIN) and Certification
Single and Joint Filers With No Dependents
Employee's Withholding Allowance Certificate

 

Request for Transcript of Tax Returns
Employer's Quarterly Federal Tax Return
Installment Agreement Request
Wage and Tax Statement

Popular For Tax Pros

Amend/Fix Return
Apply for Power of Attorney
Apply for an ITIN
Rules Governing Practice before IRS

EP Compliance Trends and Tips - Compliance Activities - Distributions

Loans
Employers are allowed to place language in their plan that permits loans to employees. Examinations of plans show a trend of violations when dealing with loans. Violations include employees not making payments after receiving the loan and employees not paying the 10% excise tax for not repaying the loan. Administrators need to keep current with all loans given to employees and explain to them the importance of repayment of the loans.


Required Minimum Distributions
The Internal Revenue Code mandates that, generally, required minimum distributions begin after an employee turns age 70 1/2. Many employees request for their distributions to begin before this date. Therefore, administrators sometimes let this requirement slip their minds. Examinations indicate this is a trend.

Hardship and Emergency Distributions
Employers can also provide in their plans the option of having employees request hardship distributions and/or emergency distributions. Examinations of plans have found trends that these arrangements are not being administered properly. Administrators are not getting adequate documentation from the employee that there is a hardship or emergency.

Other Trends
Large Case (Employee Plans Team Audit, or EPTA) examinations have found many other issues regarding distributions in plans.