IRS Notice 2021-03 Provides Temporary Relief From the Physical Presence Requirement for Spousal Consents Through June 2021 | Practical Law
In response to the COVID-19 pandemic, the Internal Revenue Service (IRS) has issued Notice 2021-03, which extends the temporary relief provided in Notice 2020-42 from the physical presence requirement for obtaining spousal consents under qualified retirement plans. Retirement plan elections that must be witnessed by a notary or plan representative during the first six months of 2021 may be witnessed remotely using live audio-video technology, if certain requirements are met.