The final regulations provide special rules relating to designed Roth contributions under a section 401(k) plan. Under section 1.401(k)-l(f)(1) or the regulations, one of the requirements that must be met for contributions to be considered designated Roth contribution is that they must be maintained by the plan in a separate account. Section 1.401(k)-1(f)(3) of the regulations provides that, under the separate accounting requirement, contributions and withdrawals of designated Roth contributions must be credited and debited to a designated Roth contribution account maintained for the employee who made the designation and the plan must maintain a record of the employee's investment in the contract employee's designated Roth contribution account.
US Code:
26 USC 401(m)
Name of Law: Nondiscrimination test for matching contributions.
US Code:
26 USC 402A
Name of Law: Optional treatment of electivce deferrals as Roth contributions.
US Code:
26 USC 401(k)
Name of Law: Cash or deferred arrangments.
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Supporting Statement for 1545-1931.doc
REG-152354-04 (NPRM) Designated Roth Contributions to Cash or Deferred Arrangements Under Section 401(k)