IRS Notice 2020-42 Provides Temporary Relief From the Physical Presence Requirement for Spousal Consents in 2020 | Practical Law
In response to the COVID-19 pandemic, the Internal Revenue Service (IRS) has issued Notice 2020-42, which provides temporary relief 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 2020 may be witnessed remotely using live audio-video technology, if certain requirements are met.