New Alternative Substantiation Guidelines for Hardship Withdrawals

Posted by Sharon Fountain, Russell Gully, Jason Loden, Jessica Morrison, Neely Munnerlyn, and Shelly Youree                            The IRS recently described new alternative substantiation guidelines for its Employee Plans Examination employees to follow when they audit hardship withdrawals from a 401(k) plan or 403(b) plan.  Thompson & Knight’s employee benefits group has produced a client alert explaining the new guidelines.  Please contact the Thompson & Knight attorney with whom you regularly work or any of the Thompson & Knight employee benefits attorneys to discuss this development.