Michelle Ueding: Plan Sponsors Must Retain Hardship Documentation

July 17, 2017

Kutak Rock attorney Michelle Ueding published the article "Plan Sponsors Still Responsible for Retaining Documentation of Hardship Distributions" in the Summer 2017 issue of Plan Consultant.

In the article Ueding explains that recent IRS guidelines remove some of the controversy and uncertainty about what to collect from plan participants who apply for hardship withdrawals. The guidance also provides a new compliance method for online hardship applications. However, she warns plan sponsors that they cannot assume the IRS document retention requirements are being met by the plan's recordkeeper.

Ueding's work at Kutak Rock focuses on qualified plans, deferred compensation plans and ERISA issues relating to these arrangements. She assists clients with plan design, due diligence, fiduciary duties, administration, investment review, disclosure requirements, drafting plan policies and administrative procedures.