Consequences of liquidating ira
These regulations will affect sponsors of section 403(b) contracts, administrators, participants, and beneficiaries.These regulations generally apply for taxable years beginning after December 31, 2008. Responses to this collection of information are required in order to provide certain benefits.The Bulletin is divided into four parts as follows: To the extent practicable, pertinent cross references to these subjects are contained in the other Parts and Subparts.Also included in this part are Bank Secrecy Act Administrative Rulings.Final, temporary, and proposed regulations under section 7425 of the Code relate to discharge of liens and return of wrongfully levied property under section 6343.The regulations clarify that notices and claims are to be sent to the IRS office and official specified in the relevant IRS publications.
All published rulings apply retroactively unless otherwise indicated.
Final regulations provide updated guidance on tax-shelter annuities, custodial accounts of public schools and section 501(c)(3) tax-exempt organizations, and church retirement income accounts, authorized under section 403(b) of the Code.