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Retirement Plan › Revenue Rulings › Income Taxes

Hanson Bridgett

IRS Clarifies Income Tax Withholding and Reporting Obligations for Uncashed Retirement Checks

Hanson Bridgett on

When an employer (or the proper withholding agent, like a plan administrator) issues a retirement benefit, there is generally an obligation to withhold income tax on the payment and to report the payment on Form 1099-R....more

Proskauer - Employee Benefits & Executive...

IRS Clarifies that Failure to Cash Checks Does Not Affect Withholding or Reporting

Proskauer - Employee Benefits & Executive... on

Revenue Ruling 2025‑15 (available here) provides guidance on withholding and reporting obligations when a plan participant or beneficiary fails to cash a distribution check and a replacement check is issued. As discussed...more

McDermott Will & Schulte

Weekly IRS Roundup July 15 – July 19, 2024

McDermott Will & Schulte on

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 15, 2024 – July 19, 2024. ...more

McDermott Will & Schulte

Still Tax, Even Without the Distributed Cash

McDermott Will & Schulte on

The IRS recently issued guidance on the tax treatment, withholding and reporting for required distributions from tax-qualified retirement plans. Plan sponsors should contact their retirement vendors and trustees to ensure...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

IRS offers guidance on uncashed checks, but not really

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

In a recent revenue ruling, the IRS stated that if a participant or a beneficiary doesn’t cash a distribution check in the year it was issued, the individual still must include the amount in gross income for that year....more

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