Federal Register #2026-12616

IRS Seeks Public Comment on Information Collection for Retirement Plan Tax Exception Certifications

This opportunity involves a request for public comment from the Internal Revenue Service (IRS) regarding information collection for certifications of exceptions to the 10% additional tax on certain retirement plan distributions. - Government Buyer: - Department of the Treasury, Internal Revenue Service (IRS) - No OEMs or commercial vendors are involved, as this is not a procurement action - Products/Services Requested: - No products or services are being procured - The notice concerns regulatory information collection and reporting requirements for exceptions to the 10% additional tax on retirement plan distributions - Topics include certifications for terminal illness, emergency personal expenses, domestic abuse, and qualified long-term care distributions - Requirements include third-party disclosure, recordkeeping, and issuer reporting for long-term care insurance providers - Unique/Notable Requirements: - The IRS is revising its OMB approval to include new requirements, increasing the estimated burden - The notice is regulatory in nature and does not request goods or services for purchase

Description

The IRS is requesting comments on the information collection related to certifications for exceptions to the 10% additional tax on distributions from qualified retirement plans. This includes third-party disclosure and recordkeeping requirements for certifications of terminal illnesses, emergency personal expenses, domestic abuse, and qualified long-term care distributions. The collection is part of the IRS's regulatory activities under the Paperwork Reduction Act of 1995. Comments are due by August 24, 2026.

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