[Federal Register Volume 72, Number 107 (Tuesday, June 5, 2007)]
[Rules and Regulations]
[Page 30974]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-10802]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9324]
RIN 1545-BF04


Designated Roth Accounts Under Section 402A; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendments.

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SUMMARY: This document contains corrections to final regulations (TD 
9324) that were published in the Federal Register on Monday, April 30, 
2007 (72 FR 21103) providing guidance concerning the taxation of 
distributions from designated Roth accounts under qualified cash or 
deferred arrangments under section 401(k).

DATES: The correction is effective June 5, 2007.

FOR FURTHER INFORMATION CONTACT: R. Lisa Mojiri-Azad or William D. 
Gibbs at 202-622-6060, or Cathy A. Vohs, 202-622-6090 (not toll-free 
numbers).

SUPPLEMENTARY INFORMATION:

Background

    The final regulations that are the subject of this correction are 
under sections 401(k), 402(g), 402A, and 408A of the Internal Revenue 
Code.

Need for Correction

    As published, final regulations (TD 9324) contain errors that may 
prove to be misleading and are in need of clarification.

List of Subjects in 26 CFR Part 1

    Income taxes, Reporting and recordkeeping requirements.

Correction of Publication

0
Accordingly, 26 CFR part 1 is corrected by making the following 
correcting amendments:

PART 1--INCOME TAXES

0
Paragraph 1. The authority citation for part 1 continues to read in 
part as follows:

    Authority: 26 U.S.C. 7805 * * *


0
Par. 2. Section 1.402A-1 is amended by revising the first sentence of 
Example. of A-8.(b) to read as follows:


Sec.  1.402A-1  Designated Roth Accounts.

* * * * *
    A-8. * * *
    (b) * * *
    Example. The facts are the same as in the Example in A-7 of this 
section, except that instead of being disabled, Employee C is 
receiving a hardship distribution. * * *
* * * * *

0
Par. 3. Section 1.402A-2 is amended by revising paragraph (2) of A-
2.(a) to read as follows:


Sec.  1.402A-2  Reporting and recordkeeping requirements with respect 
to designated Roth accounts.

* * * * *
    A-2. * * *
    (a) * * *
    (2) If the distribution is not a direct rollover to a designated 
Roth account under another plan, the plan administrator or responsible 
party must provide to the employee, upon request, the same information 
described in paragraph (a)(1) of this A-2, except the statement need 
not indicate the first year of the 5-taxable-year period described in 
A-1 of this section.
* * * * *

LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
[FR Doc. E7-10802 Filed 6-4-07; 8:45 am]
BILLING CODE 4830-01-P