IRS Issues Final Regulations on Electronic Delivery of Retirement Arrangement Notices, Elections, Consents

The IRS has issued Treasury Decision (TD) 9294 to provide standards for the electronic delivery of certain employer-sponsored plan and IRA notices, as well as participant elections and consents. TD 9294 creates new Treasury Regulation 1.401(a)-21, modifies certain existing regulations, and generally reflects provisions of the Electronic Signatures in Global and National Commerce Act (E-Sign) for using electronic mediums to send such notices, elections, and consents. These regulations are effective on October 20, 2006, and generally apply to applicable notices provided and participant elections made on or after January 1, 2007.

These regulations may be accessed at http://www.irs.gov/pub/irs-regs/td9294.pdf.