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403(b) Answer Book, Tenth  Edition by Barbara N. Seymon-Hirsch Davis & Harman LLP ,Janet M. Anderson-Briggs 403(b) Answer Book, Tenth  Edition by Barbara N. Seymon-Hirsch Davis & Harman LLP ,Janet M. Anderson-Briggs

403(b) Answer Book, Tenth Edition

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403(b) Answer Book is the only professional resource that systematically answers hundreds of questions on Section 403(b) plans, 501(c)(3) organizations, and church plans. It provides insight on how to handle complicated issues not yet resolved by the IRS or the courts and includes coverage of plan documents, qualified domestic relations orders, nondiscrimination requirements, contribution limits, correction of plan defects, and Section 403(b)(7) custodial accounts.

403(b) Answer Book, Tenth Edition provides clear, practice-oriented coverage of:

  • Maximum contribution and other discrimination rules
  • Multiple funding alternatives available
  • Fiduciary responsibility
  • Prohibited transactions and exemptions
  • Reporting and other requirements of the IRS and the DOL
  • And much more!

403(b) Answer Book has been updated to include coverage of:

  • IRS Revenue Procedure 2018-4, providing changes to the Employee Plans Compliance Resolution System (EPCRS) Voluntary Correction Program (VCP) filing fees.
  • IRS Announcement 2017-11 providing Relief for Victims of Hurricane Harvey and IRS Announcement 2017-13 providing Relief for Victims of Hurricane Irma.
  • Changes to the 401(k) and 403(b) hardship rules in the Bipartisan Budget Act of 2018.
  • DOL Field Assistance Bulletin 2017-02 issuing a temporary enforcement policy defining who is a fiduciary under ERISA and the IRS.
  • Final DOL regulations on adjudicating ERISA disability claims.
  • Supreme Court consolidated cases in Advocate Health Care Network et al. v. Stapleton et al. on determination of church plans under ERISA, decided on June 5, 2017.
  • IRS Notice 2017-64, 2018 Limitations Adjusted As Provided in Section 415(d).
  • Revenue Procedure 2016-51, covering the EPCRS.
  • Revenue Procedure 2017-18, and the remedial amendment procedure for Section 403(b) pre-approved plans.
  • Church plan legislation under Section 336 of the PATH Act.
  • DOL Field Assistance Bulletin 2015-02 and the annuity selection safe harbor regulation for defined contribution plans.
  • The DOL's final ERISA fiduciary regulation.
  • IRS Notice 2014-54 on allocating rollovers of distributions of pre-tax and after-tax amounts.
  • IRS Notice 2014-74, which updated the Code Section 402(f) safe harbor notice requirements for distributions and rollovers.
  • The final Treasury regulations on qualifying longevity annuity contracts (QLACs).
  • IRS Revenue Procedure 2015-3 covering the IRS's position on not issuing private letter rulings or determination letters for individually designed Section 403(b) plans.
  • The SEC's no-action letter regarding using annuity contracts as a stable value investment option for Section 403(b) plans under Section 3(c)(7) of the 1940 Act.
  • IRS Notice 2013-74 issued in December 2013 on in-plan Roth rollovers.
  • The change in the law for certain in-plan Roth transfers, effective for transfers to Roth accounts after December 31, 2012.
  • The in-plan 403(b) Roth rollovers (conversions) guidance under IRS Notice 2010-84.

Previous Edition: 403(b) Answer Book, Ninth Edition, ISBN: 9781454842903

Note: Online subscriptions are for three-month periods.

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Last Updated 07/19/2019
Update Frequency Annually
Product Line Wolters Kluwer Legal & Regulatory U.S.
SKU 10064814-7777
Resources Highlight
Publish Frequency Annually
Product Line Wolters Kluwer Legal & Regulatory U.S.
SKU 000000000010073204
Table of Contents
  • 1. Overview of Section 403(b) Plans
    • Introduction to Section 403(b) Plans
    • Eligible Employers
    • Eligible Employees
    • Plan Requirement
    • Requirements Relating to Contributions
    • Requirements Relating to Investments
    • Requirements Relating to Distributions
    • Application of ERISA
    • Failure and Correction
    • Comparison to Other Plan Types
  • 2. Section 501(c)(3) Organizations
    • Introduction to Section 501(c)(3) Organizations
    • Basic Requirements
    • State Filing Requirements
    • Maintaining 501(c)(3) Status
    • Recordkeeping and Disclosure Requirements
  • 3. 403(b) Plan Documents
    • Written Section 403(b) Plan Document Requirement
    • Model Section 403(b) Plan Language
    • IRS Pre-Approved Section 403(b) Plan Program
    • Remedial Amendment Period
    • Reliance on Model Section 403(b) Plan Language
    • Effect of Failure to Satisfy the Written Section 403(b) Plan Document
  • 4. Contribution Limits
    • Overview of Section 403(b) Contribution Limits
    • Section 415(c) Contribution Limits
    • Includible Compensation
    • Section 402(g) Contribution Limits
    • Years of Service
    • Section 414(v) Catch-up Limit
    • Coordination of Deferrals and Contributions
    • Correction of Excess Amounts
    • Correction of Excess Deferrals
    • Contributions That Exceed All Limits
    • Excess Contributions Under Section 403(b)(7) Custodial Accounts
  • 5. Nondiscrimination in Coverage and Benefits
    • Overview of Nondiscrimination Requirements
    • Application of Nondiscrimination Requirements for Different Types of Contributions
    • Minimum Participation Rules
    • Coverage Rules
    • Nondiscrimination Rules
  • 6. Investments
    • 403(b) Investment Alternatives
    • Retirement Income Accounts
    • Grandfathered Investments
    • State Retirement System Fund
    • Participant Loans
    • Trusts to Hold Section 403(b) Accounts
    • Employer Responsibility for Selecting Investment Alternatives
    • Social Investment
    • Making Investment Decisions
    • Protecting the Safety of Investments
    • Protection Against Liability
    • Participant-Directed Investment
    • Providing Investment Education and Advice
    • Default Investments
    • Paying Plan Administration Expenses
  • 7. Annuities
    • Overview of Annuity Contracts
    • State Insurance Regulation of an Annuity Contract
    • Contractual Changes Under an Annuity Contract
    • Internal Revenue Code Requirements of Section 403(b) Annuity Contracts
    • Section 403(b) Annuity Requirements Under ERISA
    • Federal Securities Regulation of Section 403(b) Annuity Contracts
  • 8. Section 403(b)(7) Custodial Accounts
    • Requirements and Establishment of Section 403(b)(7) Custodial Accounts
    • Investments for a Section 403(b)(7) Custodial Account
    • Contributions to a Section 403(b)(7) Custodial Account
    • Contract Exchanges and Transfers for Section 403(b)(7) Custodial Accounts
    • Distributions from Section 403(b)(7) Custodial Accounts
    • ERISA Implications for Section 403(b)(7) Custodial Accounts
  • 9. Roth 403(b) Contributions
    • Introduction to Roth 403(b) Contributions
    • Basic Requirements of a Roth 403(b) Contribution
    • Recordkeeping Requirements of Roth 403(b) Accounts
    • Distribution Requirements of Roth 403(b) Accounts
    • In-Plan Roth Rollovers
    • Roth 403(b) Plan Design and Communication Considerations
    • Roth 403(b) Administrative Considerations
  • 10. Application of Federal Securities Laws to Section 403(b) Arrangements
  • 11. ERISA Requirements
    • Circumstances Under Which a Section 403(b) Arrangement Is Subject to ERISA
    • Vesting
    • Joint and Survivor Annuity Requirements
    • Participation Requirements
    • Death Benefit Beneficiary Designations
    • Amendments
    • Bonding and Plan Assets
    • Disclosure and Reporting
    • Compliance with Claims Procedures
    • Assignment or Alienation
    • Fiduciary Matters
  • 12. Annual Reporting
    • Annual Reporting?
    • Who Must File?
    • When to File?
    • What to File?
    • How to File?
    • Summary Annual Reports
    • Failure to File
  • 13. Loans, Plan Terminations
    • Loans
    • Loans as Distributions
    • Loan Availability
    • Limitations on Amounts
    • Interest Rates
    • Repayment Requirements
    • Correction of Defects Under the Employee Plans Compliance Resolution System
    • Consequences of Failure to Repay
    • Transfers
    • When a Loan Is Treated as a Distribution
    • Plan Termination
  • 14. Distributions
    • Withdrawal Restrictions
    • Hardship Distributions
    • Taxation and Investment in the Contract
    • Death Benefits
    • Exchanges and Transfers
    • Rollovers
    • Rules Governing the Timing and Amount of Required Minimum Distribution
    • Distributions Commencing During an Employee's Lifetime
    • Calculation and Distribution of Grandfathered Amounts for the Purpose of the Minimum Required Distribution Rules
    • Distributions After Death of Participant
    • Designated Beneficiaries
    • Minimum Distribution Incidental Benefit Requirements
    • Qualifying Longevity Annuity Contracts
  • 15. Income Tax Withholding and Reporting
    • Income Tax Withholding for a Section 403(b) Contract
    • Income Tax Reporting Requirements for a Section 403(b) Contract
  • 16. Beneficiary Designations
    • About Beneficiary Designations
    • Additional Reasons for Naming a Beneficiary
    • Making a Beneficiary Designation
    • Substantial Compliance Doctrine
    • Who Can Be a Beneficiary
    • Family Rights That Restrain a Beneficiary Designation
    • Circumstances That Might Affect a Beneficiary Designation
    • Spouse's Rights
    • Using Agreements to Change a Spouse's Rights
    • Disclaimers
    • Death
    • Common Mistakes
  • 17. Qualified Domestic Relations Orders
    • Introduction to QDROs
    • QDRO Protections
    • Plans Following a QDRO
    • Requirements of a QDRO
    • Plan Administration Procedures
    • Tax Treatment
  • 18. Mergers and Acquisitions
    • Section 403(b) Plan Considerations
    • Severance Pay and Section 403(b) Plans
    • Section 457 Plan Considerations
  • 19. Designing Retirement Plans with Section 403(b) Components
  • 20. Retirement and Estate Planning for Section 403(b) Participants
    • Estate Tax Treatment
    • Gift Tax Treatment
    • Funding Trusts with Retirement Plan Annuities
    • Funding Charitable Gifts with Retirement Plan Annuities
    • Spousal Rollovers
    • Retirement Equity Act of 1984
  • 21. Correcting 403(b) Plan Errors
    • Self-Correction
    • Voluntary Correction Program
    • Correction on Audit
    • Other Correction Considerations
  • 22. Tax Aspects of Church Plans
    • Church Retirement Income Accounts
    • Special Definitions and Rules for Section 403(b) Church Plans
    • Final Code Section 403(b) Regulations Issues for Church Section 403(b) Arrangements
    • Church Plan Status for a Section 403(b) Church Plan
    • Electing (or Not Electing) ERISA Coverage
    • Rules Applicable to Nonelecting Church Qualified Plans
    • Failure to Qualify as a Church Plan or a Church 403(b) or 401(a) Plan
    • ERISA Coverage of Church Plans
    • Miscellaneous Church Plan Provisions
    • Impact of New Tax-Exempt Controlled Group Rules on Church Section 403(b) Plans
  • APPENDIX A: Useful Resources
  • APPENDIX B: The Role of the Tax or Employee Benefits Professional in the 403(b) Arena
  • APPENDIX C: The Role of Life Insurance Contracts in Connection with Section 403(b) Retirement Plans
    • Internal Revenue Code
    • Treasury Regulations
    • Internal Revenue Service Announcements, Notices, Memoranda, Rulings, and Procedures
    • ERISA
    • United States Code
    • Department of Labor Regulations and Opinions
    • Table of Cases

•     INDEX

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