Employee Plans

T.D. 9835 T.D. 9835

The regulations under sections 401(k) and 401(m) are amended to provide that an employer contribution to a plan may be a qualified matching contribution or qualified nonelective contribution if it satisfies applicable nonforfeitability requirements and distribution limitations at the time it is allocated to a participant’s account, but need not meet these requirements or limitations when it is contributed to the plan.

Exempt Organizations

NOT 2018–58 NOT 2018–58

This notice announces that Treasury and the IRS intend to issue regulations providing clarification regarding (1) the special rules for contributions of refunded qualified higher education expenses to a qualified tuition program; (2) the new rules permitting a rollover from a qualified tuition program to an ABLE account under IRC § 529A: and (3) the new rules treating certain elementary or secondary school expenses as qualified higher education expenses.

Income Tax

T.D. 9836 T.D. 9836

These final regulations provide guidance regarding substantiation and reporting requirements for cash and noncash charitable contributions. The final regulations reflect the enactment of provisions under the American Jobs Creation Act of 2004 and the Pension Protection Act of 2006.