The IRS has issued final rules addressing Sec. 401(c) by Section 13613 of the Tax Cuts and Jobs Act (TCJA), which provides an extended rollover period for a qualified plan loan offset (QPLO).
The final rules (T.D. 9937) adopt regulations proposed in August with only one change, delaying the effective date.
The final regulations provide examples to illustrate the interaction of the special rules for QPLOs with the general rules for plan loan offsets. The regulations also contain definitions of plan loan offset amount, QPLO amount and qualified employer plan. Learn more.