403(b) Plan Audit Issues
(Posted on January 10, 2000 by )


In recent years, the Internal Revenue Service (“IRS”) has been taking a keen interest in the functioning of so-called “403(b) plans,” i.e., retirement savings programs based on annuities, custodial accounts, or church retirement funds set up to qualify under Internal Revenue Code (“Code”) section 403(b). This interest was obvious from the guidelines the IRS issued in the Internal Revenue Manual concerning examinations of hospitals and universities, and was reinforced by the final 403(b) examination guidelines it issued last May. Read more