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IRS to Jump on Missing Pension Participants Issue

Feb. 23, 2018, 8:20 PM

The IRS is planning to weigh in on the issue of “missing” retirement plan participants with new guidance sometime this year, an agency official said Feb. 23.

The Internal Revenue Service currently doesn’t have any regulatory guidance aimed at finding missing participants, but that could soon change, said Lauson Green, acting special counsel in the IRS Office of Chief Counsel.

The guidance would come as a relief to retirement plan sponsors facing the issue of missing participants—workers who have left their jobs and may be owed a retirement benefit but who the plan doesn’t have contact information for—because there is ...