IRS Extends Relief for Remote Notarization of Spousal Consents


In June, the IRS provided temporary relief that allows for spousal consents for retirement plan loans or distributions to be witnessed remotely through audio visual equipment by a notary public in accordance with a state remote notarization law or by a plan official through December 31, 2020.  See our prior blog post here. In recognition of the ongoing COVID-19 emergency, the IRS has issued Notice 2021-03, which extends this relief through June 30, 2021. 


Further, Notice 2021-03 includes a request for comments on whether the IRS should make permanent changes to the general requirements that a spousal consent be executed in the “physical presence” of a notary public or a plan official, and if so, what safeguards should be put in place to prevent fraud, coercion or other abuse in obtaining a spousal consent to a loan or distribution.  Any changes to the current rules regarding the “physical presence” would be subject to further notice and comment.


Latest Thinking

View more Insights
Insights Center
Knowledge assets are defined in the study as confidential information critical to the development, performance and marketing of a company’s core business, other than personal information that would trigger notice requirements under law. For example,
The new study shows dramatic increases in threats and awareness of threats to these “crown jewels,” as well as dramatic improvements in addressing those threats by the highest performing organizations. Awareness of the risk to knowledge assets increased as more respondents acknowledged that their