The Internal Revenue Service and the Treasury Department offered guidance Wednesday on rollovers between retirement plans and individual retirement accounts.
The sample forms are designed to protect participants' personal identifying information and minimize participants' burden. Use of the sample forms and proposed procedures is optional for plan sponsors.
"The IRS continues to look for ways to make complying with tax law less difficult and confusing for taxpayers and to improve tax administration in this complex area of the law," said IRS CEO Frank Bisignano in a statement. "The sample forms will make compliance simpler and easier for both plan participants and administrators."
The Treasury and the IRS are asking for comments from stakeholders on the sample forms and proposed rollover procedures. More guidance is under consideration that would facilitate and expedite the rollover process and request comments on the issues raised. They are asking for comments from interested parties by Oct. 23, 2026. Complete instructions on submitting comments are included in the notice.
Section II of the notice discusses general background information on the rollover process. In section III of this notice, the Treasury and the IRS propose a series of sample forms and proposed rollover procedures, attached as an appendix to the notice, intended to comply with Section 324 of the SECURE 2.0 Act. Section IV of the notice offers additional guidance under consideration by the Treasury and the IRS. Section V of the notice includes instructions on how to submit comments on the notice and any other aspect of Section 324.
