Bulletin No. 2026–35

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Bulletin No. 2026–35

August 24, 2026

These synopses are intended only as aids to the reader in

identifying the subject matter covered. They may not be

relied upon as authoritative interpretations.

INCOME TAX

Notice 2026-46, page 182.

This notice provides the inflation adjustment factor for the

section 43 enhanced oil recovery credit taxable years beginning in calendar year 2026. The inflation adjustment factor

is used for determining the phase-out amount, if any, of the

credit. The inflation adjustment factor is a fraction where the

numerator is the GNP implicit price deflator for the preceding

calendar year and the denominator is the GNP implicit price

deflator for 1990. Section 43(b)(1) phases out the credit by

an amount which bears the same ratio to the credit as the

amount by which the reference price for the preceding calendar year exceeds the inflation adjusted $28, bears to $6.

The Section 43 credit is partially phased out for the 2026

calendar year.

ESTATE TAX

Rev. Rul. 2026-14, page 181.

Special Use Value: Farms: Interest Rates.

The 2026 interest rates to be used in computing the special use value of farm real property for which an election is

made under section 2032A of the Code are listed for estate

of decedents.

EMPLOYEE PLANS

Announcement 2026-15, page 214.

This announcement notifies the public that the IRS intends

to issue opinion letters on August 31, 2026, or as soon as

possible thereafter, for defined contribution qualified pre-ap-

Finding Lists begin on page ii.

proved plans that were updated for changes in plan qualification requirements listed in the 2023 Cumulative List and that

were filed with the IRS during the fourth remedial amendment

cycle (Cycle 4) under the remedial amendment cycle system

for pre-approved plans. This announcement also provides a

deadline for when an employer intending to maintain a Cycle

4 defined contribution qualified pre-approved plan must adopt

that plan, and sets forth the period during which the IRS will

accept an application for an individual determination letter

from an adopting employer of a Cycle 4 defined contribution

qualified pre-approved plan that is eligible to submit a determination letter request.

Notice 2026-48, page 185.

This notice informs taxpayers that the Treasury Department and the IRS intend to propose regulations providing

guidance under section 6433 of the Internal Revenue Code

with respect to Saver’s Match contributions. In addition, this

notice discusses Executive Order 14403 and its interaction

with Saver’s Match contributions. It addresses certain questions related to Saver’s Match contributions that the Treasury Department and the IRS intend to address in those proposed regulations. It also contains a request for comments

regarding Saver’s Match contributions, including whether the

methods for claiming and paying Saver’s Match contributions

that are under consideration should be simplified or revised

to ease the burden of implementing Saver’s Match contributions.

Notice 2026-49, page 199.

This notice provides guidance in accordance with section

324 of the SECURE 2.0 Act of 2022. The notice applies to

rollovers between retirement plans and individual retirement

accounts (IRAs), but not to IRA-to-IRA transfers. Section II of

this notice sets forth general background information on the

rollover process. In section III of this notice, the Department

of the Treasury (Treasury Department) and the Internal Revenue Service (IRS) propose a series of sample forms and

proposed rollover procedures, attached as an Appendix to

this Notice, intended to comply with section 324. Section IV

of this notice sets forth additional guidance under consideration by the Treasury Department and the IRS. Section V of

this notice provides instructions on how to submit comments

on this notice and any other aspect of section 324.

Rev. Proc. 2026-30, page 212.

This revenue procedure updates the application procedures

in Rev. Proc. 2026-4 for requesting letter rulings and nonbank

trustee approval letters issued by the IRS Tax Exempt and

Government Entities Division, Employee Plans Rulings and

Agreements Office. The modifications to Rev. Proc. 2026-4

will streamline these application procedures by requiring that

applications be submitted electronically, rather than by mail

or hand delivery, on pay.gov using Form 15662.

The IRS Mission

Provide America’s taxpayers top-quality service by helping

them understand and meet their tax responsibilities and

enforce the law with integrity and fairness to all.

Introduction

The Internal Revenue Bulletin is the authoritative instrument

of the Commissioner of Internal Revenue for announcing official rulings and procedures of the Internal Revenue Service

and for publishing Treasury Decisions, Executive Orders, Tax

Conventions, legislation, court decisions, and other items of

general interest. It is published weekly.

It is the policy of the Service to publish in the Bulletin all substantive rulings necessary to promote a uniform application

of the tax laws, including all rulings that supersede, revoke,

modify, or amend any of those previously published in the

Bulletin. All published rulings apply retroactively unless otherwise indicated. Procedures relating solely to matters of internal management are not published; however, statements of

internal practices and procedures that affect the rights and

duties of taxpayers are published.

Revenue rulings represent the conclusions of the Service

on the application of the law to the pivotal facts stated in

the revenue ruling. In those based on positions taken in rulings to taxpayers or technical advice to Service field offices,

identifying details and information of a confidential nature are

deleted to prevent unwarranted invasions of privacy and to

comply with statutory requirements.

Rulings and procedures reported in the Bulletin do not have the

force and effect of Treasury Department Regulations, but they

may be used as precedents. Unpublished rulings will not be

relied on, used, or cited as precedents by Service personnel in

the disposition of other cases. In applying published rulings and

procedures, the effect of subsequent legislation, regulations,

court decisions, rulings, and procedures must be considered,

and Service personnel and others concerned are cautioned

against reaching the same conclusions in other cases unless

the facts and circumstances are substantially the same.

The Bulletin is divided into four parts as follows:

Part I.—1986 Code.

This part includes rulings and decisions based on provisions

of the Internal Revenue Code of 1986.

Part II.—Treaties and Tax Legislation.

This part is divided into two subparts as follows: Subpart A,

Tax Conventions and Other Related Items, and Subpart B,

Legislation and Related Committee Reports.

Part III.—Administrative, Procedural, and Miscellaneous.

To the extent practicable, pertinent cross references to these

subjects are contained in the other Parts and Subparts. Also

included in this part are Bank Secrecy Act Administrative

Rulings. Bank Secrecy Act Administrative Rulings are issued

by the Department of the Treasury’s Office of the Assistant

Secretary (Enforcement).

Part IV.—Items of General Interest.

This part includes notices of proposed rulemakings, disbarment and suspension lists, and announcements.

The last Bulletin for each month includes a cumulative index

for the matters published during the preceding months. These

monthly indexes are cumulated on a semiannual basis, and are

published in the last Bulletin of each semiannual period.

The contents of this publication are not copyrighted and may be reprinted freely. A citation of the Internal Revenue Bulletin as the source would be appropriate.

August 24, 2026

Bulletin No. 2026–35

Part I

Section 2032A.—Valuation

of Certain Farm, Etc., Real

Property

26 CFR 20.2032A-4: Method of valuing farm real

property.

Rev. Rul. 2026-14

This revenue ruling contains a list of

the average annual effective interest rates

on new loans under the Farm Credit System. This revenue ruling also contains a

list of the states within each Farm Credit

System Bank Territory.

Under § 2032A(e)(7)(A)(ii) of the

Internal Revenue Code, rates on new

Farm Credit System Bank loans are

used in computing the special use

value of real property used as a farm

for which an election is made under

§ 2032A. The rates in Table 1 of this

revenue ruling may be used by estates

that value farmland under § 2032A as

of a date in 2026.

Average annual effective interest

rates, calculated in accordance with

§ 2032A(e)(7)(A) and § 20.2032A-4(e)

of the Estate Tax Regulations, to be used

under § 2032A(e)(7)(A)(ii), are set forth

in the accompanying Table of Interest

Rates (Table 1). The states within each

Farm Credit System Bank Territory are

set forth in the accompanying Table of

Farm Credit System Bank Territories

(Table 2).

Rev. Rul. 81-170, 1981-1 C.B. 454,

contains an illustrative computation of an

average annual effective interest rate. The

rates applicable for valuation in 2025 are

in Rev. Rul. 2025-16, 2025-35 I.R.B. 342.

For rate information for years prior to

2025, see Rev. Rul. 2024-16, 2024-35

I.R.B. 534, and other revenue rulings that

are referenced therein.

DRAFTING INFORMATION

The principal author of this revenue

ruling is Lane Damazo of the Office of the

Associate Chief Counsel (Passthroughs,

Trusts, and Estates). For further information regarding this revenue ruling, contact

Lane Damazo at (202) 317-4628 (not a

toll-free call).

REV. RUL. 2026-14 TABLE 1

TABLE OF INTEREST RATES

(Year of Valuation 2026)

Farm Credit System Bank Servicing State in

Which Property is Located

Rate

AgFirst, FCB . . . . . . . . . . . . . . . . . . . . . . . . . 6.88

AgriBank, FCB . . . . . . . . . . . . . . . . . . . . . . . . 6.47

CoBank, ACB . . . . . . . . . . . . . . . . . . . . . . . . . 6.41

Texas, FCB. . . . . . . . . . . . . . . . . . . . . . . . . . . 6.83

REV. RUL. 2026-14 TABLE 2

TABLE OF FARM CREDIT SYSTEM BANK TERRITORIES

Farm Credit System Bank . . . Location of Property

AgFirst, FCB. . . . . . . . . . Delaware, District of Columbia, Florida, Georgia,

Maryland, North Carolina, Pennsylvania, South Carolina,

Virginia, West Virginia.

AgriBank, FCB . . . . . . . . Arkansas, Illinois, Indiana, Iowa, Kentucky, Michigan,

Minnesota, Missouri, Nebraska, North Dakota, Ohio,

South Dakota, Tennessee, Wisconsin, Wyoming.

CoBank, ACB . . . . . . . . . Alaska, Arizona, California, Colorado, Connecticut,

Hawaii, Idaho, Kansas, Maine, Massachusetts, Montana,

New Hampshire, New Jersey, New Mexico, New York,

Nevada, Oklahoma, Oregon, Rhode Island, Utah,

Vermont, Washington.

Texas, FCB. . . . . . . . . . . Alabama, Louisiana, Mississippi, Texas.

Bulletin No. 2026–35

181

August 24, 2026

Part III

Enhanced Oil Recovery

Credit

2026 Section 43 Inflation

Adjustment

Notice 2026-46

Section 43(a) of the Internal Revenue

Code provides that for purposes of section 38, the enhanced oil recovery credit

for any taxable year is an amount equal

to 15 percent of the taxpayer’s qualified

enhanced oil recovery costs (qualified

costs) for such taxable year.

Section 43(b)(1) provides that the

amount of the credit determined under

§ 43(a) for any taxable year shall be

reduced by an amount which bears the

same ratio to the amount of such credit

(determined without regard to this paragraph) as — (A) the amount by which

the reference price for the calendar year

preceding the calendar year in which the

taxable year begins exceeds $28, bears to

(B) $6. The term reference price is defined

in § 43(b)(2) as, with respect to any calendar year, the reference price determined

for such calendar year under § 45K(d)(2)

(C). Section 45K(d)(2)(C) provides that,

with respect to a calendar year, the reference price is the Secretary’s estimate

of the annual average wellhead price per

barrel for all domestic crude oil the price

of which is not subject to regulation by the

United States.

Section 43(b)(3)(A) provides that, for

taxable years beginning in a calendar year

after 1991, the $28 amount in § 43(b)(1)

(A) is adjusted for inflation by multiplying

that amount by the inflation adjustment

factor for that calendar year. Section 43(b)

(3)(B) defines the term inflation adjustment factor as, with respect to any calendar year, a fraction the numerator of which

is the GNP implicit price deflator for the

preceding calendar year and the denominator of which is the GNP implicit price

deflator for 1990. The term GNP implicit

price deflator means the first revision of

the implicit price deflator for the gross

national product, as computed and published by the Secretary of Commerce.

For calendar year 2026, the GNP

implicit price deflator for the preceding calendar year (2025) is 128.888 and the GNP

implicit price deflator for 1990 is 59.266,

yielding an inflation adjustment factor of

2.1747. Accordingly, the $28 amount in

§ 43(b)(1)(A) is adjusted to $60.892.

Based on data published by the United

States Energy Information Administration, domestic first purchase crude oil

prices averaged $63.40 per barrel in calendar year 2025. Accordingly, the reference

price for calendar year 2025 is $63.40.

Because the reference price for calendar year 2025 ($63.40) exceeds $60.892

by $2.508 (that is, an amount less than

$6), a portion of the enhanced oil recovery

credit for qualified costs paid or incurred

in 2026 is phased out using the following

ratio:

$63.40 – $60.892

15%

where solving for x = 6.27%

Therefore, the enhanced oil recovery credit is an amount equal to 8.73% (15% – 6.27%) of qualified costs paid or incurred in 2026.

Table 1 contains the GNP implicit price deflator used for calendar year 2026, as well as the previously published GNP implicit price

deflators used for calendar years 1991 through 2025.

Notice 2026-46 TABLE 1

GNP IMPLICIT PRICE DEFLATORS

Calendar Year GNP

Implicit Price Deflator

1990

112.9

(used for 1991)

1991

117.0

(used for 1992)

1992

120.9

(used for 1993)

1993

124.1

(used for 1994)

1994

126.0

(used for 1995)*

1995

107.5

(used for 1996)

1996

109.7

(used for 1997)**

1997

112.35 (used for 1998)

1998

112.64 (used for 1999)***

1999

104.59 (used for 2000)

2000

106.89 (used for 2001)

2001

109.31 (used for 2002)

August 24, 2026

182

Bulletin No. 2026–35

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

Notice 2026-46 TABLE 1

GNP IMPLICIT PRICE DEFLATORS

110.63 (used for 2003)

105.67 (used for 2004)****

108.23 (used for 2005)

112.129 (used for 2006)

116.036 (used for 2007)

119.656 (used for 2008)

122.407 (used for 2009)

109.764 (used for 2010)*****

110.654 (used for 2011)

113.347 (used for 2012)******

115.387 (used for 2013)

106.710 (used for 2014)*******

108.407 (used for 2015)********

109.868 (used for 2016)

111.528 (used for 2017)

113.500 (used for 2018)

110.308 (used for 2019)*********

112.257 (used for 2020)

113.586 (used for 2021)

118.586 (used for 2022)**********

127.194 (used for 2023)

122.179 (used for 2024)***********

125.139 (used for 2025)

128.888 (used for 2026)

* Beginning in 1995, the GNP implicit price deflator was rebased relative to 1992. The 1990 GNP implicit price deflator used to

compute the 1996 § 43 inflation adjustment factor is 93.6.

** Beginning in 1997, two digits follow the decimal point in the GNP implicit price deflator. The 1990 GNP price deflator used to

compute the 1998 § 43 inflation adjustment factor is 93.63.

*** Beginning in 1999, the GNP implicit price deflator was rebased relative to 1996. The 1990 GNP implicit price deflator used to

compute the 2000 § 43 inflation adjustment factor is 86.53.

**** Beginning in 2003, the GNP implicit price deflator was rebased, and the 1990 GNP implicit price deflator used to compute the

2004 § 43 inflation adjustment factor is 81.589.

***** Beginning in 2009, the GNP implicit price deflator was rebased, and the 1990 GNP implicit price deflator used to compute the

2010 § 43 inflation adjustment factor is 72.199.

****** Beginning in 2011, the 1990 GNP implicit price deflator used to compute the 2012 § 43 inflation adjustment factor is 72.260.

******* Beginning in 2013, the GNP implicit price deflator was rebased, and the 1990 GNP implicit price deflator used to compute

the 2014 § 43 inflation adjustment factor is 66.803.

******** Beginning in 2014, the 1990 GNP implicit price deflator used to compute the 2015 § 43 inflation adjustment factor is

66.732.

********* Beginning in 2018, the 1990 GNP implicit price deflator used to compute the 2019 § 43 inflation adjustment factor is

63.637.

********** Beginning in 2021, the 1990 GNP implicit price deflator used to compute the 2022 § 43 inflation adjustment factor is

63.604.

*********** Beginning in 2023, the 1990 GNP implicit price deflator used to compute the 2024 § 43 inflation adjustment factor is

59.266.

Bulletin No. 2026–35

183

August 24, 2026

Table 2 contains the inflation adjustment factor and the phase-out amount for taxable years beginning in calendar year 2026 as well

as the previously published inflation adjustment factors and phase-out amounts for taxable years beginning in calendar years 1991

through 2025.

Notice 2026-46 TABLE 2

INFLATION ADJUSTMENT FACTORS AND PHASE-OUT AMOUNTS

Calendar Year

Inflation Adjustment Factor

Phase-out Amount

1991

1.0000

1992

1.0363

1993

1.0708

1994

1.0992

1995

1.1160

1996

1.1485

1997

1.1720

1998

1.1999

1999

1.2030

2000

1.2087

2001

1.2353

2002

1.2633

2003

1.2785

2004

1.2952

2005

1.3266

2006

1.3743

100 percent

2007

1.4222

100 percent

2008

1.4666

100 percent

2009

1.5003

100 percent

2010

1.5203

100 percent

2011

1.5326

100 percent

2012

1.5686

100 percent

2013

1.5968

100 percent

2014

1.5974

100 percent

2015

1.6245

100 percent

2016

1.6464

2017

1.6713

2018

1.7008

1.069 percent

2019

1.7334

100 percent

2020

1.7640

100 percent

2021

1.7849

2022

1.8607

100 percent

2023

1.9998

100 percent

2024

2.0615 100 percent

2025

2.1115 100 percent

2026

2.1747

6.27 percent

DRAFTING INFORMATION

The principal author of this notice

is Glenn Kats of the Office of Associate

August 24, 2026

Chief Counsel (Energy, Credits & Excise

Tax). For further information regarding

this notice, contact Mr. Kats at (202) 3173995 (not a toll-free call).

184

Bulletin No. 2026–35

Notice of Intent to

Issue Regulations with

Respect to Saver’s Match

Contributions

Notice 2026-48

I. PURPOSE

This notice informs taxpayers that the

Department of the Treasury (Treasury

Department) and the Internal Revenue

Service (IRS) intend to propose regulations providing guidance with respect

to section 6433 of the Internal Revenue

Code (Code), as added by section 103 of

Division T of the Consolidated Appropriations Act, 2023, Pub. L. 117-328, 136 Stat.

4459 (2022), known as the SECURE 2.0

Act of 2022 (SECURE 2.0 Act), enacted

on December 29, 2022. For taxable years

beginning after December 31, 2026, section 6433 of the Code allows certain

low- and moderate-income individuals

who make qualified retirement savings

contributions to receive matching contributions of up to $1,000 (Saver’s Match

contributions) paid by the Secretary of the

Treasury or the Secretary’s delegate (Secretary) to applicable retirement savings

vehicles.

Section II of this notice provides a brief

overview of Saver’s Match contributions,

a description of Notice 2024-65, 2024-39

IRB 633 (requesting comments on Saver’s

Match contributions under section 103 of

the SECURE 2.0 Act1), and a brief summary of Executive Order No. 14403, 91

FR 24329 (2026) (facilitating Saver’s

Match contributions).

Section III of this notice provides more

detailed statutory background information

regarding Saver’s Match contributions.

Section IV of this notice addresses

certain questions related to Saver’s

Match contributions that the Treasury Department and the IRS intend to

address in the forthcoming proposed

regulations. The Treasury Department

and the IRS expect that the forthcoming

proposed regulations will be consistent

with the rules described in section IV of

this notice.2

Section V of this notice contains a

request for comments regarding Saver’s

Match contributions under section 6433 of

the Code and section 103 of the SECURE

2.0 Act,3 including whether the methods

under consideration for claiming and paying Saver’s Match contributions described

in Q&As E-2 and E-3 of this notice should

be simplified or revised to ease the burden

of implementing Saver’s Match contributions. Comments received will be considered in drafting the forthcoming proposed

regulations.

II. SAVER’S MATCH

CONTRIBUTIONS – OVERVIEW,

NOTICE 2024-65, AND EXECUTIVE

ORDER NO. 14403

A. Overview

Saver’s Match contributions are matching contributions made by the Treasury

Department to an applicable retirement

savings vehicle for eligible individuals.4

Saver’s Match contributions are equal to

up to 50 percent of $2,000 of qualified

retirement savings contributions made

by an eligible individual to an employer-sponsored retirement plan or an individual retirement account or annuity under

section 408(a) or (b) of the Code (IRA) for

taxable years beginning after December

31, 2026. See Q&As B-1 through B-4 of

this notice regarding eligibility for Saver’s

Match contributions, Q&As C-1 through

C-3 of this notice regarding how to calculate Saver’s Match contributions, Q&A

D-1 of this notice regarding what types of

retirement plans and IRAs are applicable

retirement savings vehicles, and Q&As

E-1 through E-3 of this notice regarding

processes under consideration for claiming and paying Saver’s Match contributions.

B. Notice 2024-65

On September 5, 2024, the Treasury

Department and the IRS issued

Notice 2024-65, which requested comments on all aspects of Saver’s Match

contributions and asked specific questions

on a variety of Saver’s Match contribution topics. In response to the request,

comments were received from a variety

of stakeholders, including individual taxpayers, tax preparation services, benefits

industry trade groups, retirement plan

administrators, and recordkeepers. The

Treasury Department and the IRS have

taken these comments into account in providing this notice.

C. Executive Order No. 14403

On April 30, 2026, President Trump

issued Executive Order No. 14403, titled

“Promoting Retirement-Savings Access

for American Workers by Establishing

TrumpIRA.gov.” The Executive Order

states that it is the policy of the United

States to increase public awareness of

Saver’s Match contributions and to facilitate participation in eligible retirement

savings vehicles that provide diversified,

index-based investment options.

The Executive Order directs the Secretary, by January 1, 2027, to establish a

website, TrumpIRA.gov, to provide individuals with information about high-quality, low-cost IRAs, with a particular focus

on independent contractors, self-employed

individuals, and other workers who do not

have access to an employer-sponsored

retirement plan. The Executive Order

notes that individuals who contribute to

IRAs, and who are otherwise eligible, are

entitled to a Saver’s Match contribution.

Pursuant to the Executive Order, it

is anticipated that TrumpIRA.gov will

list financial institutions that offer IRAs,

accept Saver’s Match contributions, and

satisfy other criteria established by the

Secretary consistent with applicable law.

In addition, it is anticipated that the web-

Notice 2024-65 also requested comments under section 104 of the SECURE 2.0 Act, which addresses steps to increase public awareness of Saver’s Match contributions.

The intended collection of certain information addressed in this notice will be subject to the Paperwork Reduction Act (PRA), 44 USC 3507. No collection of information will be required

until approved by the Office of Management and Budget (OMB) under the PRA.

This notice does not address section 103(b) of the SECURE 2.0 Act, which includes Treasury Department funding provisions applicable to the U.S. territories. The Treasury Department and

the IRS are coordinating with the U.S. territories regarding the implementation of an equivalent Saver’s Match contribution in each U.S. territory. The IRS anticipates updating Publication

570, Tax Guide for Individuals with Income from U.S. Territories, to include more detailed information about these funding provisions.

Special rules apply to Saver’s Match contributions of less than $100 for a taxable year. See Q&A D-2 of this notice.

Bulletin No. 2026–35

185

August 24, 2026

site will explain applicable cost and quality criteria for listed IRAs, allow individuals to filter and select IRAs based on those

criteria, and provide information regarding the opportunity to receive a Saver’s

Match contribution. It is anticipated that,

later in 2026, more information will be

available for IRA providers that want to

be listed on TrumpIRA.gov.

III. STATUTORY BACKGROUND

Section 103 of the SECURE 2.0 Act

added section 6433 to the Code. For taxable years beginning after December 31,

2026, Saver’s Match contributions replace

the Retirement Savings Contributions

Credit (Saver’s Credit) under section 25B

with respect to elective contributions to

qualifying retirement plans and IRAs.5

Section 6433(a)(1) of the Code provides that any eligible individual who

makes qualified retirement savings contributions for a taxable year will be allowed

a matching contribution for that taxable

year in an amount equal to a specified

applicable percentage of so much of the

qualified retirement savings contributions

made by the eligible individual for the taxable year as does not exceed $2,000. Section 6433(a)(2)(A) provides that a Saver’s

Match contribution will be allowed as a

credit payable as a contribution to the eligible individual’s applicable retirement

savings vehicle as soon as practicable after

an eligible individual files a tax return

making a claim for the contribution. Section 6433(a)(2)(B) provides that an individual who is eligible for a Saver’s Match

contribution of greater than zero but less

than $100 may elect for the amount of the

Saver’s Match contribution to be treated

as a refundable income tax credit allowed

by subpart C of part IV of subchapter A of

chapter 1 of the Code (rather than contributed to the individual’s applicable retirement savings vehicle).

Section 6433(b)(1) provides that the

maximum applicable percentage for an

eligible individual is 50 percent. Section 6433(b)(2) provides that an eligible individual’s applicable percentage

is reduced (but not below zero) by the

number of percentage points that bears

the same ratio to 50 percentage points

as (1) the excess of (a) the eligible individual’s modified adjusted gross income

(MAGI) for the taxable year, over (b) the

applicable dollar amount, bears to (2)

the phaseout range. The applicable dollar amount and the end of the phaseout

range for an eligible individual are both

determined based on the eligible individual’s taxpayer filing status. Under section

6433(b)(3)(A), for individuals who are

either married filing jointly or surviving

spouses, the phaseout range is $30,000,

beginning at the applicable dollar amount

of $41,000 and ending at $71,000. Under

section 6433(b)(3)(B)(i), for heads of

household, the phaseout range is $22,500

(calculated as ¾ of the $30,000 phaseout

range), beginning at the applicable dollar amount of $30,750 (calculated as ¾

of the $41,000 applicable dollar amount)

and ending at $53,250. Under section

6433(b)(3)(B)(ii), for individuals who

are not married filing jointly, heads of

household, or surviving spouses, the

phaseout range is $15,000 (calculated as

½ of the $30,000 phaseout range), beginning at the applicable dollar amount of

$20,500 (calculated as ½ of the $41,000

applicable dollar amount) and ending

at $35,500. For any taxable year beginning in a calendar year after 2027, the

applicable dollar amount (and, thus, the

beginning and end of the phaseout range)

is subject to inflation adjustments under

section 6433(h).

Under section 6433(c), an eligible individual for a taxable year is an individual

who has attained age 18 as of the close of

the taxable year, other than an individual

who is (1) a student as defined in section

152(f)(2),6 (2) claimed as a dependent

on another taxpayer’s return for a taxable year beginning in the calendar year

in which the individual’s taxable year

begins, or (3) a nonresident alien (unless

the individual has made an election under

section 6013(g) or (h) to be treated as a

U.S. resident)).

Section 6433(d)(1) provides that the

term “qualified retirement savings contributions” means, with respect to any taxable year, the sum of: (1) the amount of

the qualified retirement contributions (as

defined in section 219(e))7 made by an

eligible individual; (2) the amount of (i)

any elective deferrals (as defined in section 402(g)(3))8 of the individual and (ii)

any elective deferrals of compensation by

the individual under a governmental section 457(b) plan; and (3) the amount of

voluntary employee contributions by the

individual to any qualified retirement plan

(as defined in section 4974(c)).9 Qualified retirement savings contributions do

not include any amount attributable to a

payment of Saver’s Match contributions

under section 6433(a)(2).

Section 6433(d)(2)(A) provides that

qualified retirement savings contributions are reduced (but not below zero) by

the aggregate distributions received by

the individual during a specified testing

period from any IRA, plan, or annuity of

a type to which qualified retirement savings contributions may be made. Section

6433(d)(2)(B) provides that the testing

period, with respect to a taxable year, is

The Saver’s Credit continues to be available for taxable years beginning after December 31, 2026, with respect to contributions made to Achieving a Better Life Experience (ABLE) accounts

described in section 529A. See section 70116 of Public Law 119-21, 139 Stat. 72 (July 4, 2025), commonly known as the One, Big, Beautiful Bill Act (OBBBA).

Section 152(f)(2) provides that a student is an individual who, during each of five months during the calendar year in which the taxable year of the individual begins, (1) is enrolled full-time

at a school that has a regular teaching staff, course of study, and regularly enrolled body of students in attendance, or (2) is taking an on-farm training course full-time given by an accredited

agent of a school described in clause (1), or a state or political subdivision of a state, county, or local government.

Under section 219(e), a qualified retirement contribution is: (1) any amount paid in cash for the taxable year by or on behalf of an individual to an individual retirement plan (including a

traditional or Roth IRA) for such individual’s benefit, and (2) any amount contributed on behalf of any individual to a plan described in section 501(c)(18).

Under section 402(g), an elective deferral is, with respect to any taxable year, the sum of: (1) any employer contribution under a qualified cash or deferred arrangement (as defined in section

401(k)) to the extent not includible in gross income for the taxable year under section 402(e)(3) (determined without regard to section 402(g)); (2) any employer contribution to the extent

not includible in gross income for the taxable year under section 402(h)(1)(B) (determined without regard to section 402(g)); (3) any employer contribution to purchase an annuity contract

under section 403(b) under a salary reduction agreement (within the meaning of section 3121(a)(5)(D)); and (4) any elective employer contribution under section 408(p)(2)(A)(i).

A qualified retirement plan under section 4974(c) is: (1) a plan described in section 401(a) which includes a trust exempt from tax under section 501(a); (2) an annuity plan described in

section 403(a); (3) an annuity contract described in section 403(b); (4) an individual retirement account described in section 408(a); or (5) an individual retirement annuity described in section

408(b).

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the period that includes (1) the taxable

year during which qualified retirement

savings contributions are made, (2) the

two preceding taxable years, and (3) the

period after the taxable year during which

qualified retirement savings contributions

are made and before the due date (including extensions) for filing the tax return for

that taxable year. Section 6433(d)(2)(C)

provides that certain distributions made

during the testing period are not taken

into account for purposes of determining

whether a taxpayer received a distribution under section 6433(d)(2)(A). Distributions not taken into account include

(1) any distribution referred to in section

72(p), 401(k)(8), 401(m)(6), 402(g)(2),

404(k), or 408(d)(4), (2) any distribution

to which section 408(d)(3) or 408A(d)

(3) applies, and (3) any portion of a distribution if the portion is transferred or

paid in a rollover contribution (as defined

in section 402(c), 403(a)(4), 403(b)

(8), 408A(e), or 457(e)(16)) to an account

or plan to which qualified retirement savings contributions can be made. Section

6433(d)(2)(D) provides that any distribution received by the spouse of an eligible

individual is treated as received by that

eligible individual if the eligible individual and spouse file a joint return for the

taxable year for which the Saver’s Match

contribution is claimed and for the taxable

year during which the spouse receives the

distribution.

Under section 6433(e)(1) and (2), an

applicable retirement savings vehicle to

which Saver’s Match contributions may

be made for an eligible individual is an

account or plan elected by the individual

that (1) is (a) the portion of a plan that

is a governmental section 457(b) plan, a

qualified cash or deferred arrangement

(within the meaning of section 401(k)), or

an annuity contract described in section

403(b) that is purchased under a salary

reduction agreement, and does not consist

of a qualified Roth contribution program

(as defined in section 402A(b)), or (b) an

individual retirement plan that is not a

Roth IRA, (2) is for the benefit of an eligible individual, (3) accepts Saver’s Match

contributions, and (4) is designated by the

eligible individual, in such form and manner as the Secretary may provide.

Section 6433(f)(1) provides that the

term “modified adjusted gross income”

Bulletin No. 2026–35

(MAGI) means adjusted gross income for

a taxable year determined without regard

to sections 911 (citizens or residents of the

United States living abroad), 931 (income

from sources within Guam, American

Samoa, or the Northern Mariana Islands),

and 933 (income from sources within

Puerto Rico), and determined without

regard to any exclusion or deduction

allowed for any qualified retirement savings contribution made during the taxable

year.

Section 6433(f)(2)(A) provides that if

contributed to an applicable retirement

savings vehicle, a Saver’s Match contribution is treated as an elective deferral made by an eligible individual or as

an IRA contribution made by an eligible

individual (as applicable), except as provided by the Secretary under regulations.

Section 6433(f)(2)(B) provides that a Saver’s Match contribution will not be taken

into account with respect to any applicable limitation under section 402(g)(1),

403(b), 408(a)(1), 408(b)(2)(B), 408A(c)

(2), 414(v)(2), 415(c), or 457(b)(2), and

will be disregarded for purposes of sections 401(a)(4), 401(k)(3), 401(k)(11)(B)

(i)(III), and 416. In addition, under section

6433(f)(2)(C), an eligible individual’s

Saver’s Match contribution is not treated

as an amount that may be paid, made

available, or distributable to the eligible

individual under section 401(k)(2)(B)(i)

(IV) or 403(b)(7)(A)(i)(V) (hardship distributions), or section 457(d)(1)(A)(iii)

(unforeseeable emergency distributions).

Section 6433(f)(3) provides that any

applicable retirement savings vehicle to

which a Saver’s Match contribution is

made will not be treated as violating any

requirements under section 401, 403,

408, or 457, as applicable, solely by reason of accepting that contribution. Section 6433(f)(4)(A) provides that, if any

contribution is erroneously paid under

section 6433(a)(2) (including a payment

that is not made to an applicable retirement savings vehicle), the amount of that

erroneous payment will be treated as an

underpayment of tax, other than for purposes of part II of subchapter A of chapter

68 (accuracy-related and fraud penalties),

for the taxable year in which the Secretary determines the payment is erroneous.

Section 6433(f)(4)(B)(i) provides that, in

the case of a contribution to which sec-

187

tion 6433(f)(4)(A) applies, section 402(a),

403(a)(1), 403(b)(1), 408(d)(1), or 457(a)

(1), whichever is applicable, will not apply

to any distribution of the contribution, and

section 72(t) will not apply to the distribution of the contribution or any income

attributable to the distribution, if the distribution is received not later than the day

prescribed by law (including extensions

of time) for filing the individual’s return

for the taxable year. Section 6433(f)(4)(B)

(ii) provides that any plan or arrangement

from which a distribution is made under

section 6433(f)(4)(B) will not be treated

as violating any requirement under section

401, 403, or 457 solely by reason of making the distribution.

Section 6433(f)(5) provides that any

payment made to any individual under

section 6433 is not subject to reduction

or offset under section 6402(c), (d), (e),

or (f) or any similar authority permitting

offset and is not reduced or offset by other

assessed federal taxes that would otherwise be subject to levy or collection.

Section 6433(f)(6) provides that, in the

case of an applicable retirement savings

vehicle to which contributions have been

made under section 6433(a)(2) and from

which a specified early distribution has

been made during the taxable year, if the

aggregate amount of those contributions

exceeds the account balance of that savings vehicle at the end of the taxable year,

an additional tax applies (Saver’s Match

recovery tax). Section 6433(f)(6)(A)

and (D) provides that this Saver’s Match

recovery tax is equal to the amount of the

excess described in the prior sentence,

reduced by (1) the amount of the 10 percent additional tax on early distributions

under section 72(t)(1) that applies to the

distribution and (2) allocable investment

losses (pursuant to such rules prescribed

by the Secretary as may be appropriate).

Section 6433(f)(6)(B) provides that a

specified early distribution is any portion

of a distribution (1) that is made from the

applicable retirement savings vehicle to

which Saver’s Match contributions have

been made, (2) that is includible in gross

income, and (3) to which the 10 percent

additional tax on early distributions under

section 72(t)(1) applies.

Section 6433(f)(6)(C) provides that an

eligible individual may also reduce the

Saver’s Match recovery tax (but not below

August 24, 2026

zero) for a taxable year during which a

specified early distribution has been made

by making additional contributions not in

excess of the amount of the specified early

distribution to an applicable retirement

savings vehicle to which rollover contributions may be made. The Saver’s Match

recovery tax is reduced to the extent of the

additional contributions. The additional

contributions must be made by the due

date (including extensions) of the eligible

individual’s tax return for the taxable year

for which the Saver’s Match recovery tax

would otherwise be owed. In addition, an

eligible individual’s additional contributions to an applicable retirement savings

vehicle that is not an IRA may be made

to the vehicle only if the individual is otherwise eligible to make contributions to

the vehicle. Under section 6433(f)(6)(C)

(iv) and (v), these additional contributions

are treated as having been transferred in a

direct trustee-to-trustee transfer within 60

days of the specified early distribution.

Section 6433(g) provides that in the

case of an amount elected by an eligible

individual to be contributed to an account

or plan under section 6433(e)(2), the

Secretary will provide general guidance

applicable to the custodian of the account

or the plan sponsor detailing the treatment

of the contribution under section 6433(f)

(2) and the reporting requirements with

respect to the contribution under section

6058, particularly as the requirements are

modified pursuant to section 103(c)(2)10

of the SECURE 2.0 Act.

Section 6433(h)(1) of the Code provides that for any taxable year beginning

in a calendar year after 2027, the $41,000

amount in section 6433(b)(3)(A)(i) will be

increased by an amount equal to $41,000,

multiplied by the cost-of-living adjustment determined under section 1(f)(3) for

the calendar year in which the taxable year

begins, determined by substituting “calen-

dar year 2026” for “calendar year 2016”

in section 1(f)(3)(A)(ii).11 Section 6433(h)

(2) provides that any such increase will be

rounded to the nearest multiple of $1,000.

Section 103(c)(2) of the SECURE

2.0 Act provides for the amendment of

forms to require separate reporting of the

aggregate amount of Saver’s Match contributions received by an applicable retirement savings vehicle. Section 103(c)(2)

(A) provides for the amendment of forms

required under section 6058 of the Code

for reporting the aggregate amount of

Saver’s Match contributions received by

a retirement plan during a plan year. Section 103(c)(2)(B) of the SECURE 2.0 Act

provides for similar reporting with respect

to IRAs.

IV. DISCUSSION OF CERTAIN

SPECIFIC ISSUES

The Treasury Department and the IRS

intend to propose regulations consistent

with the answers to the questions set forth

in this section IV.

A. Saver’s Match Contributions –

Comparison to Saver’s Credit; Tax

Treatment

Q. A-1: How do Saver’s Match contributions differ from the Saver’s Credit?

A. A-1: In general, for taxable years

beginning after December 31, 2026, Saver’s Match contributions will replace the

Saver’s Credit under section 25B of the

Code with respect to elective contributions to qualifying retirement plans and

IRAs.12 However, the Saver’s Credit continues to be available after December 31,

2026, with respect to contributions made

to ABLE accounts described in section

529A.

Saver’s Match contributions are

amounts that are generally paid directly to

an eligible individual’s applicable retirement savings vehicle, even if the individual has no income tax liability. In contrast,

the Saver’s Credit is a nonrefundable tax

credit that cannot exceed the amount of

an individual’s tax liability. Another difference between Saver’s Match contributions and the Saver’s Credit is that ABLE

account contributions may not be taken

into account for Saver’s Match contributions, but ABLE account contributions

may continue to be taken into account

for the Saver’s Credit after December 31,

2026. Also, there are differences in income

thresholds for eligibility, differences in the

way income changes affect Saver’s Match

contributions and Saver’s Credit amounts,

and other income calculation differences.

In addition, section 6433(c)(3) provides

that the definition of eligible individual

does not include any nonresident alien for

any portion of the taxable year who is not

treated as a resident of the United States

for the taxable year for purposes of chapter 1 of the Code by reason of an election

under section 6013(g) or (h).13 See Q&As

C-1 through C-3 of this notice for further

details regarding Saver’s Match contribution calculations.

Finally, for taxable years beginning

after December 31, 2026, Saver’s Match

contributions would be claimed on a new

(not yet published) Form 8880-A, Saver’s

Match for Qualified Retirement Savings

Contributions (or a successor form). It is

anticipated that, with respect to contributions to ABLE accounts, the Saver’s

Credit would continue to be claimed on

Form 8880, Credit for Qualified Retirement Savings Contributions (which will

be revised to reflect section 103 of the

SECURE 2.0 Act and section 70116 of

OBBBA).

Q. A-2: What are the income tax rules

with respect to Saver’s Match contributions?

Section 6433(g) refers to section 102(c)(2) of the SECURE 2.0 Act, but this appears to be a clerical error as that provision does not exist.

Under section 6433(b), $41,000 is the applicable dollar amount used to determine the beginning of the applicable percentage phaseout range for individuals whose filing status is either

married filing jointly or surviving spouses, and it is the starting point for calculating the applicable dollar amount for other individuals. Thus, the beginning and end of the phaseout range (but

not the phaseout range itself) are subject to the cost-of-living adjustment.

For an IRA contribution made after December 31, 2026, and not later than the due date of an eligible individual’s 2026 tax return (without extensions), the eligible individual may designate

the IRA contribution as being made for the 2026 taxable year and claim a Saver’s Credit for the 2026 taxable year based on the contribution, or as being made for the 2027 taxable year and

claim a Saver’s Match for the 2027 taxable year based on the contribution.

The Justice Department’s Office of Legal Counsel (OLC) has opined that Saver’s Match contributions are “federal public benefits” within the meaning of the Personal Responsibility and

Work Opportunity Reconciliation Act of 1996, Pub. L. 104-193, 110 Stat. 2105 (PRWORA). See Memorandum Opinion for the General Counsel, Department of the Treasury, from Lanora

C. Pettit, Deputy Assistant Attorney General, Office of Legal Counsel, re: Status of the Refundable Portion of Certain Tax Credits as Federal Public Benefits, 49 Op. O.L.C. __, at 2 (Nov. 19,

2025), available at https://www.justice.gov/olc/media/1419131/dl. PRWORA generally prohibits aliens who are not qualified aliens from being eligible to receive a federal public benefit. See

8 USC § 1611(a) and (c)(1). The Treasury Department and the IRS anticipate addressing the applicability of PRWORA to Saver’s Match contributions in forthcoming proposed regulations.

August 24, 2026

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A. A-2: Saver’s Match contributions

are not includible in gross income when

they are contributed to an applicable

retirement savings vehicle of an eligible

individual. However, distributions from

an applicable retirement savings vehicle

attributable to Saver’s Match contributions are subject to income tax for the year

of distribution (unless they are rolled over

or transferred through a trustee-to-trustee

transfer into another retirement plan or

IRA). If the eligible individual has not

attained age 59½ on the date of distribution, a 10 percent additional tax on early

distributions under section 72(t)(1) of the

Code and a Saver’s Match recovery tax

under section 6433(f)(6) may apply. See

Publication 575, Pension and Annuity

Income, under the heading “Tax on Early

Distributions,” and Publication 590-B,

Distributions from Individual Retirement

Arrangements (IRAs), under the heading

“Early Distributions,” for more information about the 10 percent additional tax on

early distributions under section 72(t)(1)

and the exceptions to that tax.

B. Eligibility for Saver’s Match

Contributions

Q. B-1: Who is an eligible individual

for purposes of claiming a Saver’s Match

contribution?

A. B-1: In general, an eligible individual for purposes of claiming a Saver’s Match contribution is an individual

who is at least age 18 before the end of

the taxable year for which the individual

makes qualified retirement savings contributions on which the claim for a Saver’s

Match contribution is based. However,

an eligible individual does not include an

individual who is a student under section

152(f)(2) for the taxable year, an individual claimed as a dependent on another

taxpayer’s tax return for the taxable year,

or a nonresident alien who is not treated

for such taxable year as a resident of the

United States by reason of an election

under section 6013(g) or (h).

Q. B-2: What are qualified retirement

savings contributions for a taxable year

that are taken into account for purposes

of determining an eligible individual’s

Saver’s Match contribution for the taxable

year?

A. B-2: In general, an eligible individual’s qualified retirement savings contributions of up to $2,000 for a taxable year

that are taken into account for purposes

of determining the individual’s Saver’s

Match contribution for the taxable year

consist of the following four types of contributions:

(1) contributions to a traditional or

Roth IRA;

(2) elective deferrals (as defined in section 402(g)(3)), such as elective deferrals

to a section 401(k) plan (including a SIMPLE 401(k) plan), section 403(b) plan,

governmental section 457(b) plan, section 408(p) SIMPLE IRA plan, or section

408(k) SEP arrangement;

(3) voluntary after-tax employee contributions to a qualified retirement plan

described in section 4974(c); and

(4) contributions to a section 501(c)

(18) plan.14

In general, for qualified retirement

savings contributions to be taken into

account in calculating Saver’s Match

contributions for a taxable year, the

qualified retirement savings contributions must be made by the end of that

taxable year. However, contributions

made to a new or already-existing IRA

after the end of the taxable year may be

made as late as the tax filing deadline

(without extensions) for the taxable year

as long as the contributions are designated as being made for the prior taxable year.15 As described in footnote 14

of this notice, an individual entitled to

receive a tax refund for a taxable year

can make qualified retirement savings

contributions by requesting on Form

8888 that the individual’s tax refund be

contributed to an IRA. However, that

tax-refund contribution must be made by

the IRS by the tax filing deadline for that

taxable year in order for the tax refund

to be deemed contributed for that taxable year. If the tax-refund contribution

is not made by the tax filing deadline

for the taxable year for the return with

which the Form 8888 is filed, the contribution cannot be taken into account

as a qualified retirement savings contribution for that year, but it can be taken

into account as a qualified retirement

savings contribution for the taxable year

in which it is made.

Qualified retirement savings contributions do not include rollover contributions

or trustee-to-trustee transfers into a retirement plan or IRA from another retirement

plan or IRA, or Saver’s Match contributions into a retirement plan or IRA. In

addition, certain distributions from an

individual’s retirement plan or IRA reduce

the qualified retirement savings contributions that are taken into account for purposes of determining the individual’s Saver’s Match contribution. See Q&A C-3 of

this notice for more information about the

impact of distributions on amounts treated

as qualified retirement savings contributions.

Q. B-3: What is an individual’s MAGI

for a taxable year for purposes of applying the eligibility income threshold and

phaseout rules for Saver’s Match contributions for the taxable year?

A. B-3: An individual’s MAGI for a

taxable year for purposes of applying the

eligibility income threshold and phaseout

rules for Saver’s Match contributions for

the taxable year equals the sum of the following amounts:

(1) Adjusted gross income,16

(2) Pre-tax elective deferrals and other

salary reduction contributions to retirement plans,17

(3) Deductible contributions to traditional IRAs,18 and

(4) Foreign source income excluded

from income under section 911, income

from sources within Guam, America

Samoa, or the Northern Mariana Islands

excluded from income under section 931,

The four types of qualified retirement savings contributions include elective deferrals and voluntary after-tax contributions to a governmental plan within the meaning of section 414(d), a

church plan within the meaning of section 414(e), or the Thrift Savings Fund for federal employees referenced in section 7701(j). Qualified retirement savings contributions also include tax

refunds contributed to an IRA pursuant to an individual’s request on Form 8888, Allocation of Refund.

See Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs), for information regarding the due date for making contributions to a traditional or Roth IRA.

This amount appears on line 11a on the 2025 Form 1040, U.S. Individual Income Tax Return.

For example, for an eligible individual who makes pre-tax elective deferrals to a section 401(k) plan, this amount generally appears in Box 12 with code D, on the 2025 Form W-2, Wage

and Tax Statement.

For an eligible individual who makes a deductible contribution to a traditional IRA, this amount appears on schedule 1, line 20 (IRA deduction) on the 2025 Form 1040.

Bulletin No. 2026–35

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August 24, 2026

and income earned from sources within

Puerto Rico excluded from income under

section 933.

As described in Q&A I-1 of this notice,

which addresses Saver’s Match contribution rules for eligible individuals whose

filing status is married filing jointly, the

MAGI for an eligible individual whose

filing status is married filing jointly equals

the combined MAGI of both spouses for

purposes of applying income eligibility

and phaseout rules.

Q. B-4: What is the maximum MAGI

that an eligible individual can earn for a

taxable year and still be entitled to claim a

Filing Status

Single

Married Filing Jointly

Surviving Spouse

Head of Household

Married Filing Separately

Saver’s Match contribution for the taxable

year?

A. B-4: An eligible individual is not

entitled to claim a Saver’s Match contribution for the 2027 taxable year if the

individual’s MAGI equals or exceeds the

amount listed in the following table for the

individual’s filing status:

Maximum MAGI

$35,500

$71,000

$53,250

$35,500

phaseout range.19 In other words, an

eligible individual’s percentage point

reduction is determined using the following formula:

Q. C-1: How is the amount of an eligible individual’s Saver’s Match contribution for a taxable year calculated?

A. C-1: The amount of an eligible individual’s Saver’s Match contribution for a

taxable year is calculated by multiplying

the amount of the eligible individual’s

qualified retirement savings contributions for the taxable year (up to $2,000,

not adjusted for cost-of-living increases)

by the applicable percentage described in

Q&A C-2 of this notice.

Q. C-2: How is the applicable percentage determined for purposes of calculat-

ing an individual’s Saver’s Match contribution for a taxable year?

A. C-2: In general, the applicable

percentage is 50% for purposes of calculating an individual’s Saver’s Match

contribution for a taxable year. The

applicable percentage is reduced over

a phaseout range as an eligible individual’s MAGI for the taxable year

approaches the maximum MAGI that

the individual can earn for the taxable

year and still be eligible for a Saver’s

Match contribution. In particular, section 6433(b) provides that the applicable percentage is reduced (but not

below zero) by the number of percentage points that bears the same ratio to

50 percentage points as (1) the excess

of (a) the eligible individual’s MAGI

for the taxable year, over (b) the applicable dollar amount, bears to (2) the

Filing Status

Single

Married Filing Jointly

Surviving Spouse

Head of Household

Married Filing Separately

Applicable Dollar Amount

$20,500

$41,000

$30,750

$20,500

Phaseout Range

$15,000

$30,000

$22,500

$15,000

To determine an individual’s filing status, see the Instructions to Form 1040.20 The

applicable dollar amount for each type of filing status is adjusted for inflation for taxable

years beginning after 2027, but the phaseout

ranges are not adjusted for inflation.

For taxable years beginning in a calendar year after 2027, these maximum MAGI

amounts will be adjusted for inflation.

C. Calculating Saver’s Match

Contributions

After an eligible individual’s percentage

point reduction is calculated for a taxable

year, it is rounded down to the next lowest whole percentage point and subtracted

from 50% (the unreduced applicable percentage) to determine the eligible individual’s reduced applicable percentage for

the taxable year. An eligible individual’s

applicable dollar amount and phaseout

range for the 2027 taxable year can be

determined using the table below:

This statutory reduction method can be described using the following formula:

Percentage point reduction

50 percentage points

Percentage point reduction =

50 percentage points x ((MAGI applicable dollar amount) ÷ phaseout

range)

MAGI - applicable dollar amount

phaseout range

References to the Form 1040 also include the Form 1040-SR, U.S. Income Tax Return for Seniors.

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The following examples demonstrate

how Saver’s Match contributions for a

taxable year would be calculated for single individuals and individuals whose filing status is married filing jointly:

Example 1: Taxpayer A is a single filer who made

a $1,500 contribution to Taxpayer A’s traditional IRA

in 2027. Taxpayer A’s MAGI for 2027 is $30,000.

Taxpayer A is eligible to receive a Saver’s Match

contribution and makes a claim for a Saver’s Match

contribution for 2027. Taxpayer A’s Saver’s Match

contribution for 2027 is $285, calculated as follows:

Percentage point reduction = 50 percentage

points x (($30,000 - $20,500) ÷ $15,000) =

31.6667

Percentage point reduction rounded down to

the nearest percentage point = 31

50% - 31 percentage points = 19%

$1,500 x 19% = $285

Example 2: Taxpayers B and C are married, and

their filing status is married filing jointly.21 Taxpayer

B made a $1,000 contribution to Taxpayer B’s traditional IRA in 2027, and Taxpayer C made a $2,000

contribution to Taxpayer C’s traditional IRA in 2027.

Taxpayer B’s and Taxpayer C’s joint MAGI for 2027

is $63,000. Taxpayers B and C are each eligible to

claim a Saver’s Match contribution, and they each

make a claim for a Saver’s Match contribution for

2027. Taxpayer B’s Saver’s Match contribution for

2027 is $140, calculated as follows:

Percentage point reduction = 50 percentage

points x (($63,000 - $41,000) ÷ $30,000) =

36.6667

Percentage point reduction rounded down to

the nearest percentage point = 36

50% - 36 percentage points = 14%

$1,000 x 14% = $140

Taxpayer C’s Saver’s Match contribution for 2027 is

$280, calculated as follows:

Percentage point reduction = 50 percentage

points x (($63,000 - $41,000) ÷ $30,000) =

36.6667

Percentage point reduction rounded down to

the nearest percentage point = 36

50% - 36 percentage points = 14%

$2,000 x 14% = $280

Q. C-3: Do distributions received by

an eligible individual (or the eligible individual’s spouse) from a retirement plan

or IRA reduce the amount of the individual’s qualified retirement savings contributions for a taxable year that are taken

into account in calculating the individual’s

Saver’s Match contribution for the taxable

year?

A. C-3: In general, the amount of an

eligible individual’s qualified retirement

savings contributions for a taxable year

is reduced by the amount distributed

to the eligible individual or the eligible

individual’s spouse from a retirement

plan or IRA of a type to which qualified

retirement savings contributions may be

made.22 However, a distribution reduces

the amount of an eligible individual’s

qualified retirement savings contributions

for a taxable year only if:

(1) the distribution is received by the

eligible individual during a specified testing period, or

(2) the distribution is received by the

eligible individual’s spouse during the

testing period (and the eligible individual

filed jointly with that spouse both for the

year during which the distribution was

made and the year for which the qualified retirement savings contributions were

made).

The specified testing period consists

of the taxable year for which the qualified retirement savings contributions were

made, the period after the end of that taxable year and before the due date (with

extensions) for filing the eligible individual’s tax return for that taxable year, and the

two taxable years that precede the taxable

year for which the qualified retirement

savings contributions were made.

An amount does not count as a distribution for purposes of the reduction on

account of distributions if the amount is

a distribution (or portion of a distribution)

that is:

(1) Referred to in section 72(p) (plan

loans treated as distributions); 401(k)(8)

(excess contributions); 401(m)(6) (excess

aggregate contributions distributed before

the end of the following plan year); 402(g)

(2) (distribution of excess deferrals); 404(k)

(deduction for dividends paid on certain

employer securities); or 408(d)(4) (contributions returned before due date of return);

(2) A trustee-to-trustee transfer or an

indirect or direct rollover to an eligible

retirement plan under section 408(d)(3) or

408A(d)(3); or

(3) Transferred or paid in a rollover

contribution (as defined in section 402(c),

403(a)(4), 403(b)(8), 408A(e), or 457(e)

(16)) to an account or retirement plan to

which qualified retirement savings contributions can be made.

For example, if an eligible individual

contributes $2,000 to a 401(k) plan during

2027, but had taken a $500 IRA withdrawal during that year and a $900 IRA

withdrawal during 2026, neither of which

was rolled over or moved in a trustee-totrustee transfer, the amount of the individual’s 2027 qualified retirement savings

contributions on which Saver’s Match

contributions can be based is $600 ($2,000

- $500 - $900), instead of the $2,000 maximum amount that would have been the

amount of the qualified retirement savings

contributions on which Saver’s Match

contributions could have been based if no

withdrawals had been taken.

D. Destination of Saver’s Match

Contributions

Q. D-1: What types of retirement plans

and IRAs are applicable retirement savings vehicles that are permitted to receive

Saver’s Match contributions directly from

the Treasury Department?

A. D-1: Applicable retirement savings

vehicles that are permitted to receive Saver’s Match contributions directly from the

Treasury Department are: (1) the portion

of a retirement plan that (a) is described in

section 402(c)(8)(B)(v) (a governmental

section 457(b) plan), is a qualified cash or

deferred arrangement (within the meaning

of section 401(k)), or is an annuity contract described in section 403(b) that is

purchased under a salary reduction agreement, and (b) does not consist of a qualified Roth contribution program (as defined

in section 402A(b)), and (2) an individual

retirement plan that is not a Roth IRA.23 In

order for an applicable retirement savings

vehicle to receive Saver’s Match contributions directly from the Treasury Department for an eligible individual, it must (1)

be for the benefit of the eligible individual, (2) accept Saver’s Match contributions, and (3) be designated by the eligible

As described in Q&A I-1 of this notice, if an individual’s filing status is married filing jointly, eligibility to claim Saver’s Match contributions is determined independently for the individual

and the individual’s spouse, but income is determined as the combined MAGI of both spouses for purposes of applying income eligibility and phaseout rules.

Distributions from an inherited IRA by a non-spousal beneficiary are not from a retirement plan or IRA of a type to which qualified retirement savings contributions may be made.

An applicable retirement savings vehicle that is permitted to receive Saver’s Match contributions directly from the Treasury Department includes governmental plans (within the meaning

of section 414(d)) and church plans (within the meaning of section 414(e)) that are 401(k) plans, 403(b) plans, or governmental section 457(b) plans, and the Thrift Savings Fund for federal

employees referenced in section 7701(j).

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August 24, 2026

individual, in such form and manner as the

Secretary may provide.

Q. D-2: If an eligible individual’s Saver’s Match contribution would be less than

$100 for a taxable year, does the individual have the option for the Saver’s Match

contribution to be treated as a refundable

tax credit (rather than for the contribution

to be paid to an applicable retirement savings vehicle)?

A. D-2: Yes. An eligible individual may

elect for a Saver’s Match contribution that

would be less than $100 for a taxable year

to be treated as a refundable tax credit

rather than to be paid to an applicable

retirement savings vehicle. This election

would be made on the same form used to

claim a Saver’s Match contribution (see

Q&A E-1 of this notice for information

regarding the form used for claiming a

Saver’s Match contribution). This $100

limit is applied on an individual basis.

Thus, for example, for individuals whose

filing status is married filing jointly, the

election would be available to each spouse

who is entitled to a Saver’s Match contribution that would be less than $100.

E. Claiming and Payment of Saver’s

Match Contributions

Q. E-1: How would an eligible individual claim a Saver’s Match contribution?

A. E-1: To claim a Saver’s Match contribution for a taxable year, an eligible

individual would need to file an income

tax return for that taxable year and claim

the Saver’s Match contribution on a separate Form 8880-A for that taxable year. As

part of a claim for a Saver’s Match contribution, an eligible individual would need

to demonstrate eligibility for the Saver’s

Match contribution by providing information about the eligible individual’s MAGI,

filing status, qualified retirement savings

contributions, and distributions described

in Q&A C-3 of this notice.

Q. E-2: How would an eligible individual direct payment of a Saver’s Match

contribution to an IRA?

A. E-2: The method by which an eligible individual would direct payment of a

Saver’s Match contribution to an IRA is

still under development and would depend

on whether the individual chooses for the

Saver’s Match contribution to be directed

to a traditional IRA or to a Roth IRA. The

Treasury Department and the IRS are

considering the two methods described

in paragraphs (a) and (b) of this Q&A

E-2. As noted in section V of this notice,

comments are requested on the best way

to implement anticipated traditional and

Roth IRA registration and designation

processes, including whether they should

be facilitated in connection with TrumpIRA.gov and whether there are other

ways to streamline the claiming of Saver’s

Match contributions.

(a) Saver’s Match contributions

directed to traditional IRA. An eligible

individual who wants to direct payment

of a Saver’s Match contribution to a traditional IRA would need to provide, on

the eligible individual’s Form 8880-A

claiming the Saver’s Match contribution, an IRA tracking number that identifies the eligible individual’s chosen traditional IRA provider. An IRA tracking

number would be available only with

respect to a traditional IRA provider

that has registered with the Treasury

Department and the IRS. The IRA tracking number associated with a particular

traditional IRA provider would be generated by the Treasury Department and

the IRS through the registration process. An eligible individual would be

able to learn the IRA tracking number

associated with the individual’s chosen

traditional IRA provider either through

a government website or directly from

the traditional IRA provider. If the eligible individual provides an IRA tracking number on the individual’s Form

8880-A with respect to a traditional IRA

provider, the eligible individual’s Saver’s Match contribution would be paid

directly to the individual’s chosen traditional IRA.

An eligible individual would need

to establish the traditional IRA with the

traditional IRA provider before submitting a Form 8880-A in order to receive

the IRA tracking number.24 More information about how an eligible individual

who wants to direct payment of a Saver’s

Match contribution to a traditional IRA

would implement that choice, and how

a traditional IRA provider that is willing

to accept Saver’s Match contributions

would register with the Treasury Department and the IRS, will be provided in the

future.

(b) Saver’s Match contributions

directed to Roth IRA. The process for

directing Saver’s Match contributions to

a Roth IRA would be similar to the process for directing Saver’s Match contributions to a traditional IRA, except that the

Treasury Department would not make the

Saver’s Match contribution directly to the

Roth IRA.25 Instead, the Treasury Department would establish a conduit traditional

IRA for the eligible individual, and there

would be an immediate trustee-to-trustee

transfer from the conduit IRA to the eligible individual’s chosen Roth IRA. This

transfer would be a Roth IRA conversion

that would be subject to federal income

tax and reporting described in Treas.

Reg. § 1.408A-4. In addition, the transfer would be subject to the withholding

rules under section 3405. Payments made

through a transfer from a conduit IRA to a

Roth IRA would not be treated as contributions made directly from the Treasury

Department. As described in Q&A I-4

of this notice regarding rules that apply

following a rollover or trustee-to-trustee

transfer, this type of trustee-to-trustee

transfer would be treated like any other

trustee-to-trustee transfer and would not

be subject to special Saver’s Match contribution rules.

An eligible individual would need to

establish a Roth IRA with a Roth IRA provider that is registered with the Treasury

Department and the IRS before submitting a Form 8880-A in order to receive

If an eligible individual has a traditional IRA maintained by a traditional IRA provider that is not registered with the Treasury Department and the IRS, and the individual wants to direct a

Saver’s Match contribution to that pre-existing traditional IRA, then the individual could establish a traditional IRA with a traditional IRA provider that has registered before filing a Form

8880-A and provide on the Form 8880-A an IRA tracking number associated with the traditional IRA provider that has registered. After the eligible individual’s Saver’s Match contribution is

directly paid to that traditional IRA, the individual could direct a trustee-to-trustee transfer to the traditional IRA associated with the traditional IRA provider that is not registered.

An IRA provider that will accept Saver’s Match contributions both with respect to traditional IRAs and with respect to Roth IRAs would need to register both as a traditional IRA provider

and a Roth IRA provider, and distinct IRA tracking numbers would be generated with respect to the provider’s traditional IRAs and Roth IRAs.

August 24, 2026

192

Bulletin No. 2026–35

the IRA tracking number.26 More information about how an eligible individual

who wants to direct payment of a Saver’s

Match contribution to a Roth IRA would

make that choice and how a Roth IRA

provider that is willing to accept Saver’s

Match contributions would register with

the Treasury Department and the IRS will

be provided in the future.

Q. E-3: How would an eligible individual direct payment of a Saver’s Match

contribution to a retirement plan?

A. E-3: An eligible individual who

wants to direct a Saver’s Match contribution to a retirement plan would be able to

choose that result on the eligible individual’s Form 8880-A claiming the Saver’s

Match contribution. The Treasury Department and the IRS are considering at least

three paths for a Saver’s Match contribution to be directed to an eligible individual’s chosen retirement plan as described

in paragraphs (a), (b), and (c) of this Q&A

E-3. As noted in section V of this notice,

comments are requested on the best way

for eligible individuals to direct Saver’s

Match contributions to a chosen retirement plan, including whether retirement

plans (or recordkeepers or service providers for the plans) should provide registration information to the Treasury Department and the IRS, and whether there are

other ways to streamline the claiming of

Saver’s Match contributions.

(a) Registration Path. The Registration

Path would allow retirement plans that

accept rollover contributions (or recordkeepers or service providers for those

plans) to provide registration information

directly to the Treasury Department and

the IRS to facilitate payment of Saver’s

Match contributions on behalf of an eligible individual. Under this Registration

Path, the Treasury Department would

automatically establish a conduit IRA

for that individual, and the conduit IRA

would then immediately roll over the Saver’s Match contribution to the retirement

plan that has registered with the Treasury

Department and the IRS. Comments are

also requested as to whether there are

ways to update informational returns that

are required to be filed with the IRS to

streamline the payment of Saver’s Match

contributions under the Registration Path.

Payments made through a rollover from

a conduit IRA to a retirement plan under

the Registration Path would not be treated

as contributions made directly from the

Treasury Department. As described in

Q&A I-4 of this notice regarding rules

that apply following a rollover or trustee-to-trustee transfer, this type of rollover

would be treated like any other rollover

and would not be subject to special Saver’s Match contribution rules.

(b) Automatic Match Path. The Automatic Match Path would allow retirement

plans (or recordkeepers or service providers) to provide plan-level and participant-level information to the Treasury

Department and the IRS to facilitate payment of Saver’s Match contributions on

behalf of any eligible individual. This

information could be similar to the information provided by retirement plans to

implement existing auto-portability of an

inactive participant’s retirement account

from a former employer’s retirement plan

to the participant’s active account in a new

employer’s retirement plan, as contemplated by section 120 of the SECURE 2.0

Act. Under this Automatic Match Path,

a Saver’s Match contribution would be

automatically paid directly to the retirement plan that has provided the plan-level

and participant-level information that

facilitates a match between the eligible

individual and the retirement plan.

would allow the Treasury Department to

establish a conduit IRA and the eligible

individual to initiate a rollover of Saver’s

Match contributions from the conduit IRA

to a retirement plan chosen by the individual. Under this path, (1) the IRS would

provide a Saver’s Match Confirmation

Number to an individual who makes a

claim for, and demonstrates eligibility for,

a Saver’s Match contribution, (2) the indi-

vidual would provide the IRS-provided

Saver’s Match Confirmation Number to

the individual’s chosen retirement plan,

and (3) the chosen retirement plan would

provide identifying information to the

Treasury Department about the individual

and the retirement plan. Then, based on

that identifying information, the Treasury

Department would pay the Saver’s Match

contribution to a conduit IRA established

by the Treasury Department, and the conduit IRA would immediately roll over the

Saver’s Match contribution to the individual’s chosen retirement plan.

Payments made through a rollover from

a conduit IRA to a retirement plan under

the Rollover Path would not be treated as

contributions made directly from the Treasury Department. As described in Q&A

I-4 of this notice regarding rules that apply

following a rollover or trustee-to-trustee

transfer, this type of rollover would be

treated like any other rollover and would

not be subject to special Saver’s Match

contribution rules.

F. Reporting

Q. F-1: Would any special reporting

obligations apply with respect to retirement plans that receive Saver’s Match

contributions directly from the Treasury

Department?

A. F-1: Pursuant to reporting changes

directed by section 103(c)(2) of the

SECURE 2.0 Act, a form in the Form

5500 series27 that is filed with respect

to a retirement plan that receives Saver’s Match contributions directly from

the Treasury Department during a plan

year would need to include the aggregate

amount of Saver’s Match contributions to

the retirement plan received directly from

the Treasury Department for all eligible

individuals during the plan year. Also, if

that retirement plan subsequently makes

a distribution, the distribution would

need to be reported on Form 1099-R,

Distributions from Pensions, Annuities,

Retirement or Profit-Sharing Plans, IRAs,

If an eligible individual has a Roth IRA maintained by a Roth IRA provider that is not registered with the Treasury Department and the IRS, and the individual wants to direct a Saver’s Match

contribution to that pre-existing Roth IRA, then the individual would need to establish a traditional IRA with a traditional IRA provider that has registered before filing a Form 8880-A and

would need to provide on the Form 8880-A an IRA tracking number associated with the traditional IRA provider that has registered. After the eligible individual’s Saver’s Match contribution

is directly paid to that traditional IRA, the individual could direct a trustee-to-trustee transfer to the Roth IRA associated with the Roth IRA provider that is not registered. This transfer would

be a Roth IRA conversion.

This includes Form 5500, Annual Return/Report of Employee Benefit Plan, Form 5500-EZ, Annual Return of a One-Participant (Owners/Partners and Their Spouses) Retirement Plan or

A Foreign Plan, and Form 5500-SF, Short Form Annual Return/Report of Small Employee Benefit Plan.

Bulletin No. 2026–35

193

August 24, 2026

Insurance Contracts, etc., in the same

manner as a distribution of other pre-tax

contributions. However, no additional

Form 1099-R reporting would be needed

(for instance, no additional boxes or lines

on Form 1099-R would need to be completed) merely because a retirement plan

has received Saver’s Match contributions

directly from the Treasury Department

with respect to an individual and a distribution to the individual from the retirement plan might be subject to the Saver’s

Match recovery tax. See Q&A H-2 of this

notice relating to the reporting of distributions of erroneous Saver’s Match contributions.

Q. F-2: Would any special reporting

obligations apply to IRAs because they

receive Saver’s Match contributions

directly from the Treasury Department?

A. F-2: Pursuant to reporting changes

directed by section 103(c)(2)(B) of the

SECURE 2.0 Act, a Form 5498, IRA

Contribution Information, that is filed

with respect to an IRA that receives

Saver’s Match contributions directly

from the Treasury Department during a

calendar year would need to include the

aggregate amount of Saver’s Match contributions to the IRA received directly

from the Treasury Department during

the calendar year. Also, if that IRA subsequently makes a distribution, the distribution would need to be reported on

Form 1099-R in the same manner as a

distribution of other pre-tax contributions. Thus, for example, no additional

Form 1099-R reporting would be needed

(for instance, no additional boxes or

lines on Form 1099-R would need to be

completed) merely because the IRA has

received Saver’s Match contributions

directly from the Treasury Department

and a distribution from the IRA might

be subject to the Saver’s Match recovery

tax. See Q&A H-2 of this notice relating

to the reporting of distributions of erroneous Saver’s Match contributions.

G. Treatment of Saver’s Match

Contributions for Purposes of

Determining an Applicable Retirement

Savings Vehicle’s Favorable Tax Status

Q. G-1: How are Saver’s Match contributions received by a retirement plan

directly from the Treasury Department

August 24, 2026

treated for purposes of determining the

retirement plan’s favorable tax status?

A. G-1: Under section 6433(f)(2)(A)

(i) of the Code, an eligible individual’s

Saver’s Match contribution directly paid

by the Treasury Department to an applicable retirement savings vehicle that is a

retirement plan generally is treated as an

elective deferral made by the individual

to the retirement plan. For example, a

Saver’s Match contribution is treated as

an elective deferral for the following purposes: determining whether the retirement

plan must offer an election to a participant

for a direct rollover under section 401(a)

(31)(A); determining whether a participant’s accrued benefit exceeds the dollar

limit for involuntary distributions under

section 411(a)(11); determining a participant’s nonforfeitable account balance

to be used in determining the amount of

a loan that the participant may request;

and applying qualified joint and survivor

annuity, required minimum distribution,

and in-plan Roth rollover rules.

In addition, a Saver’s Match contribution received directly from the Treasury

Department: (1) is not taken into account

with respect to any elective deferral and

catch-up limitations that apply to 401(k),

403(b), or governmental section 457(b)

plans; (2) is disregarded for nondiscrimination testing under section 401(a)(4),

the actual deferral percentage (ADP) test

for 401(k) plans, nonelective contributions for SIMPLE 401(k) plans, and the

top-heavy test under section 416; and (3)

is not treated as an amount that may be

paid, made available, or distributable to an

eligible individual on account of hardship

or unforeseeable emergency under section

401(k)(2)(B)(i)(IV), 403(b)(7)(A)(i)(V),

or 457(d)(1)(A)(iii). See Q&A I-5 of this

notice regarding hardship and unforeseeable emergency distribution restrictions

applicable to certain Saver’s Match contributions.

Q. G-2: How are Saver’s Match contributions received by an IRA directly from

the Treasury Department with respect to

an eligible individual treated for purposes

of determining the IRA’s favorable tax

status?

A. G-2: Under section 6433(f)(2)(A)

(ii), a Saver’s Match contribution received

by an IRA directly from the Treasury

Department with respect to an eligible

194

individual generally is treated as an individual retirement plan contribution made

by the eligible individual. However, section 6433(f)(2)(B) provides that Saver’s

Match contributions are not taken into

account with respect to any applicable

IRA contribution limitation that applies to

traditional and Roth IRAs.

Q. G-3: For purposes of applying the

limit on retirement plan loans under section 72(p)(2)(A), are Saver’s Match contributions received directly from the Treasury Department and attributable earnings

included in the determination of the present value of an individual’s nonforfeitable

accrued benefit?

A. G-3: For purposes of applying the

limit on retirement plan loans under section 72(p)(2)(A), Saver’s Match contributions received directly from the Treasury

Department and attributable earnings are

included in the determination of the present value of an individual’s nonforfeitable

accrued benefit.

H. Improper Saver’s Match Contributions

Q. H-1: What is an erroneous payment

of a Saver’s Match contribution?

A. H-1: An erroneous payment of a

Saver’s Match contribution is an improper

payment of a Saver’s Match contribution

that is subsequently determined by the

Secretary to be erroneous. For example,

the Secretary may determine that a Saver’s Match contribution was improperly

paid to a destination other than an applicable retirement savings vehicle, to an

individual with MAGI above the applicable eligibility threshold, or to an ineligible individual (for example, a student or

ineligible nonresident alien). An improper

payment of a Saver’s Match contribution

with respect to an individual is treated

as an erroneous payment on the date the

Secretary issues to the individual a written

notification that the payment of the Saver’s Match contribution was erroneous.

Q. H-2: What special rules apply with

respect to a Saver’s Match contribution

made to an applicable retirement savings

vehicle if the contribution is later determined to be erroneous?

A. H-2: Several special rules apply

with respect to a Saver’s Match contribution made to an applicable retirement

savings vehicle for an individual if the

Bulletin No. 2026–35

contribution is later determined to be erroneous. First, an erroneous contribution

(determined without regard to attributable

earnings or losses) is treated as an underpayment of tax, other than for purposes of

accuracy-related and fraud penalties, for

the taxable year in which the Secretary

determines the contribution is erroneous.

Second, if an erroneous contribution with

respect to an individual is distributed

from a retirement plan or IRA not later

than the day prescribed by law (including extensions) for filing the individual’s

return for the taxable year of the erroneous-contribution determination, then the

distribution is not treated as taxable. The

distribution of an erroneous contribution

is not required to include attributable

earnings, but, if the distribution includes

attributable earnings, those earnings are

treated as taxable. Third, if an erroneous

contribution with respect to an individual

is distributed from a retirement plan or

IRA not later than the day prescribed by

law (including extensions) for filing the

individual’s return for the taxable year of

the erroneous-contribution determination,

then the distribution is not subject to the

10 percent additional tax on early distributions under section 72(t)(1) (and, if the

distribution of the erroneous contribution includes attributable earnings, those

attributable earnings would also not be

subject to the 10 percent additional tax on

early distributions under section 72(t)(1)).

An individual may request a distribution

(including any attributable earnings) from

a retirement plan or IRA of an erroneous

contribution by submitting to the retirement plan or IRA a copy of the written

notification from the IRS that the Saver’s

Match contribution was erroneous.28

The IRS is considering adding a code

to the Form 1099-R for distributions of

erroneous contributions that are made

no later than the day prescribed by law

(including extensions) for filing the individual’s return for the taxable year of the

erroneous-contribution

determination

by the IRS. If a code is added, the Form

1099-R would indicate that neither the

distribution of erroneous contributions nor

any attributable earnings are subject to the

10 percent additional tax on early distributions under section 72(t)(1), and that

only the portion of the distribution attributable to earnings is subject to income tax.

An applicable retirement savings vehicle

that makes a distribution of an erroneous

payment is not treated as violating any

requirement under section 401, 403, or

457 solely by reason of the distribution

(without regard to whether the distribution

is made on or before the day prescribed by

law (including extensions) for filing the

individual’s return for the taxable year of

the erroneous-contribution determination

by the IRS).

A retirement plan or IRA that receives

a rollover or a trustee-to-trustee transfer

from an applicable retirement savings

vehicle that has received a Saver’s Match

contribution directly from the Treasury

Department would not be required to follow the reporting requirements described

in the prior paragraph. However, if the

distribution of an erroneous contribution

is made from the retirement plan or IRA

not later than the day prescribed by law

(including extensions) for filing the individual’s return for the taxable year of the

erroneous-contribution determination by

the IRS, the individual would be permitted to claim that the distribution is not

subject to income tax or to the 10 percent

additional tax on early distributions under

section 72(t)(1) and that any earnings

attributable to the erroneous contribution

are not subject to the 10 percent additional

tax.

I. Miscellaneous Information

Q. I-1: How do Saver’s Match contribution rules apply to eligible individuals whose filing status is married filing

jointly?

A. I-1: In general, if an individual’s filing status is married filing jointly, eligibility to claim Saver’s Match contributions

is determined independently for the individual and the individual’s spouse. Thus,

for example, Spouse X may be able to

qualify for up to a $1,000 Saver’s Match

contribution by making contributions to

Spouse X’s retirement plan or IRA and

designating Spouse X’s retirement plan or

IRA as a destination for the Saver’s Match

contribution, and Spouse Y may also be

able to qualify for up to a $1,000 Saver’s

Match contribution by making contributions to Spouse Y’s retirement plan or

IRA and designating Spouse Y’s retirement plan or IRA as a destination for the

Saver’s Match contribution. However, for

an individual whose filing status is married filing jointly, the individual’s MAGI

is determined as the combined MAGI of

both spouses for purposes of applying

income eligibility and phaseout rules. See

Q&A C-2 of this notice for an example of

Saver’s Match contribution calculations

for individuals whose filing status is married filing jointly.

Q. I-2: Are retirement plans or IRAs

required to accept Saver’s Match contributions directly from the Treasury Department?

A. I-2: Neither retirement plans nor

IRAs are required to accept Saver’s Match

contributions directly from the Treasury

Department.29 However, because Saver’s Match contributions represent a new

approach to promoting retirement savings

and an important opportunity to improve

the long-term financial security for low- to

moderate-income Americans, the Treasury

Department and the IRS encourage retirement plans and IRAs to consider accepting such contributions. If a retirement plan

or traditional IRA accepts Saver’s Match

contributions directly from the Treasury

Department, acceptance of the Saver’s

Match contributions would not cause the

retirement plan or traditional IRA to be

treated as violating any requirement under

section 401, 403, 408, or 457 solely by

reason of accepting the contribution. As

described in Q&A I-4 of this notice, rollovers and trustee-to-trustee transfers from

An individual that receives a distribution of an erroneous payment later than the day prescribed by law (including extensions) for filing the individual’s return for the taxable year of the

determination will be subject to regular taxation rules, including the 10 percent additional tax on early distributions under section 72(t)(1), on such distribution (even though the erroneous

payment has been treated as an underpayment of tax).

In addition, section 6433 does not impose any consistency or uniformity requirements for retirement plans and IRAs that choose to accept Saver’s Match contributions. For example, a

multi-employer plan under section 413(b) or a multiple employer plan under section 413(c) may allow each participating employer to choose independently whether to accept Saver’s Match

contributions.

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195

August 24, 2026

retirement plans or traditional IRAs that

have previously received Saver’s Match

contributions directly from the Treasury

Department are treated like any other rollover or trustee-to-trustee transfer and are

not subject to special Saver’s Match contribution rules.

Q. I-3: May a retirement plan administrator include language about Saver’s

Match contributions in an annual notice

describing an eligible employee’s opportunity to make elective contributions

under the retirement plan?

A. I-3: Yes. A retirement plan administrator may include language about Saver’s

Match contributions in an annual notice

describing an eligible employee’s opportunity to make elective contributions.30

This Q&A I-3 provides model safe harbor

language about Saver’s Match contributions that could be included in an annual

notice for 2027.

Saver’s Match from the Federal

Government

A new financial incentive to save for

retirement

Under the federal government’s new

Saver’s Match program to promote retirement savings, the federal government will

contribute as much as $1,000 to a retirement plan or IRA of a qualifying low- or

moderate-income individual who saves for

retirement. For 2027, the income limit for

receiving any Saver’s Match is $35,500

for a single individual and $71,000 for a

married filing jointly individual. If you

qualify, your Saver’s Match will be up to

50% of $2,000 of your annual contributions to your plan or IRA.

How to claim your Saver’s Match

You will be able to claim your Saver’s

Match by filing an IRS Form 8880-A with

your 2027 tax return. The Form 8880-A

and related instructions will explain in

detail how to complete your claim. You

will be able to go to those instructions for

more details about the Saver’s Match pro-

gram, including income thresholds, phaseout ranges, and eligibility rules.

You will be able to choose the

destination for your Saver’s Match

In general, when you file your 2027

Form 8880-A, you will be able to choose

the retirement plan or IRA where your

Saver’s Match will end up. Alternatively,

if your Saver’s Match is less than $100,

you will have the option to instead have

your Saver’s Match treated as a refundable income tax credit. You will be able

to go to the 2027 Instructions to Form

8880-A for details about choosing where

your Saver’s Match will end up.

Q. I-4: How are rollovers and trusteeto-trustee transfers to a retirement plan or

IRA from an applicable retirement savings

vehicle that has received Saver’s Match

contributions directly from the Treasury

Department treated for tax purposes?

A. I-4: Rollovers and trustee-to-trustee

transfers to a retirement plan or IRA from

an applicable retirement savings vehicle (including trustee-to-trustee transfers

from a conduit IRA that are described in

Q&As E-2 and E-3 of this notice) that

has received Saver’s Match contributions

directly from the Treasury Department are

treated like any other rollovers or trusteeto-trustee transfers. The special tax rules

applicable to Saver’s Match contributions

do not carry over to retirement plans and

IRAs that accept these rollovers and trustee-to-trustee transfers. Thus, for example,

the special reporting rules applicable to

Saver’s Match contributions as described

in Q&As F-1 and F-2 of this notice, the

hardship and unforeseeable emergency

distribution restrictions applicable to

Saver’s Match contributions received by

an applicable retirement savings vehicle

that is a retirement plan as described in

Q&A I-5 of this notice, and the recovery

tax rules would not apply with respect to

amounts held in a retirement plan or IRA

that are attributable to rollovers and trustee-to-trustee transfers received from an

applicable retirement savings vehicle that

had previously received Saver’s Match

contributions directly from the Treasury

Department. In addition, see Q&A H-2

of this notice regarding reporting with

respect to rollovers and trustee-to-trustee

transfers received by a retirement plan or

IRA from an applicable retirement savings

vehicle that had previously received Saver’s Match contributions directly from the

Treasury Department that are determined

to be erroneous.

Q. I-5: Must a retirement plan that

accepts Saver’s Match contributions

directly from the Treasury Department

impose any restrictions on the distribution

of those Saver’s Match contributions that

do not apply to elective deferrals generally?

A. I-5: Section 6433(f)(2)(C) provides

that Saver’s Match contributions are not

treated as amounts that may be paid, made

available, or distributable to an eligible

individual in the case of a hardship distribution in a section 401(k) or 403(b)

plans, or an unforeseeable emergency distribution in a governmental section 457(b)

plan. However, earnings attributable to

Saver’s Match contributions are not subject to these hardship and unforeseeable

emergency distribution restrictions. These

restrictions also do not apply with respect

to other in-service distributions (such as

emergency personal expense distributions permitted to be distributed pursuant

to section 72(t)(2)(I)(viii) and qualified

disaster recovery distributions permitted

to be distributed pursuant to section 72(t)

(11)(G)(ii)). In order to implement the

restriction on hardship and unforeseeable

emergency distributions, retirement plans

that allow hardship distributions would

need to separately account for Saver’s

Match contributions.

For purposes of applying the hardship

and unforeseeable emergency distribution restrictions of section 6433(f)(2)(C),

the type of distribution requested by the

individual controls whether the restriction applies. For example, if an individual

requests a qualified disaster recovery distribution (and the distribution could have

been requested as a hardship distribution)

and the retirement plan includes Saver’s

The Department of Labor has advised the Treasury Department and the IRS that language describing Saver's Match contributions must be included in a Summary Plan Description or a

Summary of Material Modifications if a plan that is subject to Title I of the Employee Retirement Income Security Act of 1974, Pub. L. 93-406, 88 Stat. 829, as amended (ERISA) accepts

Saver’s Match contributions. See 29 CFR § 2510.3-3 and 29 CFR § 2510.104b-3.

August 24, 2026

196

Bulletin No. 2026–35

Match contributions in the requested distribution, the distribution would not violate the distribution restriction under section 6433(f)(2)(C).

Q. I-6: May a retirement plan or IRA

include reasonable conditions on acceptance of Saver’s Match contributions

directly from the Treasury Department?

A. I-6: A retirement plan or IRA may

include reasonable conditions on acceptance of an eligible individual’s Saver’s

Match contributions directly from the

Treasury Department. For example, a

retirement plan may provide for acceptance of Saver’s Match contributions

only with respect to participants who are

currently employed by a participating

employer or with respect to participants

who have account balances under the

retirement plan.

Q. I-7: Must a retirement plan be

amended in order to accept Saver’s Match

contributions directly from the Treasury

Department?

A. I-7: Yes. A retirement plan must be

amended in order to accept Saver’s Match

contributions directly from the Treasury

Department. The amendment would be a

discretionary amendment. Under section

6.02 of Rev. Proc. 2022-40, 2022-47 IRB

487, the deadline for the adoption of a

discretionary amendment is generally the

end of the plan year in which the retirement plan amendment is operationally put

into effect. For example, in general, for

a calendar-year qualified retirement plan

that begins accepting Saver’s Match contributions during 2028, the deadline for

the adoption of the amendment would be

December 31, 2028. However, in the case

of a governmental plan within the meaning

of section 414(d) or an applicable collectively bargained plan, a later deadline may

apply as described in Q&A J-1 of Notice

2024-2, 2024-2 IRB 316. The Treasury

Department and the IRS anticipate providing model language relating to acceptance

of Saver’s Match contributions directly

from the Treasury Department.

A retirement plan that accepts rollover

contributions generally would not need

to be amended to accept rollovers from

an applicable retirement savings vehicle

that has received Saver’s Match contributions directly from the Treasury Department (including a rollover from a conduit

IRA that is described in Q&A E-3 of this

notice).

Q. I-8: May a retirement plan that

accepts Saver’s Match contributions

directly from the Treasury Department

be amended prospectively to no longer

accept Saver’s Match contributions with

respect to qualified retirement savings

contributions made after the effective date

of the amendment?

A. I-8: Yes. A retirement plan that

accepts Saver’s Match contributions

directly from the Treasury Department

may be amended prospectively to no longer accept Saver’s Match contributions

with respect to qualified retirement savings contributions made after the effective

date of the amendment. Such an amendment would not violate the anti-cutback

rules of section 411(d)(6) of the Code and

section 204(g) of ERISA.31

V. REQUEST FOR COMMENTS

The Treasury Department and the IRS

request comments on the issues addressed

in this notice. Comments are particularly

requested on the following topics:

• Implementing the Saver’s Match

recovery tax, including methods of

determining losses in an individual’s

account.

• Implementing methods by which an

eligible individual would direct payment of a Saver’s Match contribution

to an IRA, including:

o The best way to implement anticipated traditional and Roth IRA

registration and designation processes, including whether they

should be facilitated in connection with TrumpIRA.gov; and

o Whether there are ways to update

informational returns that are

required to be filed with the IRS

(including the Form 5498) to

streamline the payment of Saver’s Match contributions with

respect to an IRA and so that the

IRS can validate that a particular

IRA will accept Saver’s Match

contributions.

• Implementing an eligible individual’s choice for Saver’s Match contributions to be directed to a chosen

retirement plan. Paths under consideration are described in Q&A E-3 of

this notice. In particular, comments

are also requested as to whether there

are ways to update informational

returns (including the Form W-2) that

are required to be filed with the IRS

to streamline the payment of Saver’s

Match contributions under the Registration Path.

• Implementing additional procedures for financial institutions if they

receive improper Saver’s Match contributions from the Treasury Department that are not determined by the

Secretary to be erroneous contributions, for example, if a Saver’s Match

contribution is paid to an account of

an individual who was not intended to

receive it.

Comments should be submitted in

writing on or before October 5, 2026, and

should include a reference to Notice 202648. Comments may be submitted electronically via the Federal eRulemaking Portal

at www.regulations.gov (type “IRS Notice

2026-48” in the search field on the Regulations.gov home page to find this notice

and submit comments). Alternatively,

comments may be submitted by mail to:

I nternal Revenue Service

Attn: CC:PA:01:PR (Notice 2026-48),

Room 5503

P.O. Box 7604

Ben Franklin Station

Washington, D.C. 20044.

All commenters are strongly encouraged to submit comments electronically.

The Treasury Department and the IRS

will publish for public availability any

comment submitted electronically, or on

paper, to its public docket on regulations.

gov.

Section 411(d)(6) generally prohibits retirement plan amendments that decrease accrued benefits. Section 204(g) of ERISA provides parallel rules to the rules of section 411(d)(6) of the

Code. The Secretary has interpretive authority over section 204(g) of ERISA pursuant to Reorganization Plan No. 4 of 1978, 5 USC App.

Bulletin No. 2026–35

197

August 24, 2026

VI. DRAFTING INFORMATION

II. BACKGROUND

The principal author of this notice is

the Office of Associate Chief Counsel

(Employee Benefits, Exempt Organizations, and Employment Taxes). Employees of the Treasury Department and the

IRS also participated in the drafting of this

notice. For further information regarding

this notice, please call (202) 317-6700

(not a toll-free number).

A. Legal Background

Guidance on Section 324

of the SECURE 2.0 Act with

Respect to Rollovers

Notice 2026-49

I. PURPOSE

Section 324 of Division T of the

Consolidated Appropriations Act, 2023,

Pub. L. 117-328, 136 Stat. 4459 (2022),

known as the SECURE 2.0 Act of 2022

(SECURE 2.0 Act) provides that the

Secretary of the Treasury or the Secretary’s delegate must develop and issue

guidance, in the form of sample forms

(including relevant procedures and protocols), to simplify, standardize, facilitate,

and expedite the completion of rollovers

to eligible retirement plans and trustee-to-trustee transfers from individual

retirement plans.

This notice provides guidance in

accordance with section 324 of the

SECURE 2.0 Act. Section II of this

notice sets forth general background

information on the rollover process. In

section III of this notice, the Department of the Treasury (Treasury Department) and the Internal Revenue Service

(IRS) propose a series of sample forms

and proposed rollover procedures,

attached as an Appendix to this notice,

intended to comply with section 324 of

the SECURE 2.0 Act. Section IV of this

notice sets forth additional guidance

under consideration by the Treasury

Department and the IRS. Section V of

this notice provides instructions on how

to submit comments on this notice and

any other aspect of section 324 of the

SECURE 2.0 Act.

August 24, 2026

Section 401(a)(31) of the Internal Revenue Code (Code) provides that a trust

does not constitute a qualified trust unless

the plan of which the trust is a part provides that, if the distributee of any eligible

rollover distribution elects to have the distribution paid directly to an eligible retirement plan and specifies the eligible retirement plan to which the distribution is to be

paid, the distribution will be made in the

form of a direct trustee-to-trustee transfer.

Section 402(a) provides, generally,

that any amount distributed from a trust

described in section 401(a) that is exempt

from tax under section 501(a) is taxable

under section 72 in the taxable year of the

distributee in which distributed.

Section 402(c) provides tax rules for an

amount that is rolled over from a qualified

trust to an eligible retirement plan. Section

402(c)(1) provides, generally, that if any

portion of an eligible rollover distribution

from a section 401(a) qualified retirement

plan is transferred into an eligible retirement plan, the portion of the distribution

so transferred shall not be includible in

gross income in the taxable year in which

paid.

Under section 402(c)(2), the maximum portion of an eligible rollover

distribution that may be rolled over in

a transfer to which section 402(c)(1)

applies generally cannot exceed the portion of the distribution that is otherwise

includible in gross income. However,

under section 402(c)(2)(A) and (B), the

general rule does not apply to such distribution to the extent that (A) such portion

is transferred in a direct trustee-to-trustee

transfer to a qualified trust or to an annuity contract described in section 403(b)

and such trust or contract provides for

separate accounting for amounts so transferred (and earnings thereon), including

separately accounting for the portion

of such distribution which is includible

in gross income and the portion of such

distribution which is not so includible,

or (B) such portion is transferred to an

individual retirement account described

in section 408(a) or an individual retirement annuity described in section 408(b)

(other than an endowment contract).

198

Section 402(c)(3) provides that section

402(c)(1) will not apply to any transfer

of a distribution made after the 60th day

following the day on which the distributee

received the property distributed.

Section 402(c)(4) defines an eligible rollover distribution as a distribution

to an employee of all or any portion of the

balance to the credit of the employee in a

qualified trust other than a distribution that

is (A) one of a series of substantially equal

periodic payments (not less frequently

than annually) made for the life (or life

expectancy) of the employee or the joint

lives (or joint life expectancies) of the

employee and the employee’s designated

beneficiary or for a specific period of 10

years or more, (B) a distribution required

under section 401(a)(9), or (C) a distribution made on account of the employee’s

hardship.

Section 402(c)(8)(B) defines an eligible

retirement plan as an individual retirement

account described in section 408(a) or

individual retirement annuity described in

section 408(b), a qualified trust described

in section 401(a), an annuity plan described

in section 403(a), or an annuity contract

described in section 403(b). An eligible

retirement plan also includes an eligible

deferred compensation plan under section

457(b) that is maintained by a State, political subdivision of a State, or any agency or

instrumentality of a State or political subdivision of a State.

Section 402(e)(6) provides that any

amount transferred in a direct trustee-totrustee transfer in accordance with section

401(a)(31) will not be includible in gross

income for the taxable year of such transfer.

Section 408(d)(1) provides that any

amount distributed from an individual

retirement account or individual retirement annuity (IRA) generally is included

in the gross income of the payee or distributee under section 72. However, section

408(d)(3)(A)(ii) provides that, subject to

certain limitations, an amount distributed

from an IRA that is paid into an eligible

retirement plan (as described in section

402(c)(8)) is not included in gross income

if it is paid into the eligible retirement plan

not later than the 60th day after the day

on which the payment or distribution is

received.

Section 408(d)(3)(A)(ii) further provides that the maximum amount which

Bulletin No. 2026–35

may be paid from an IRA into an eligible

retirement plan (other than an IRA) as a

rollover contribution may not exceed the

portion of the distribution that otherwise

would have been includible in income.

Section 1.401(a)(31)-1, Q&A-3, provides, in relevant part, that a direct rollover may be accomplished by any reasonable means of direct payment, including a

wire transfer or the mailing of a check to

the trustee, custodian, or issuer of the eligible retirement plan to which the rollover

is being made. If the payment is made by

wire transfer, the wire transfer must be

directed only to the trustee, custodian, or

issuer of the eligible retirement plan. If the

payment is made by check, the check must

be negotiable only by the trustee, custodian, or issuer of the eligible retirement

plan.

Section 1.401(a)(31)-1, Q&A-4, provides that a trustee of a plan may accomplish a direct rollover by providing a distributee with a check made payable to the

trustee, custodian, or issuer of another eligible retirement plan for the benefit of the

distributee and instructing the distributee

to deliver the check to the eligible retirement plan.

Section 1.401(a)(31)-1, Q&A-6(a),

provides that, except as provided in Q&A6(b), a plan administrator may prescribe

any reasonable procedure for a distributee

to elect a direct rollover, including any

reasonable requirement for information

or documentation from the distributee in

addition to the items of adequate information specified in § 31.3405(c)-1(b), Q&A7. As an example, Q&A-6(a) provides that

it would be reasonable for the plan administrator to require that the distributee

provide a statement from the designated

recipient plan that the plan will accept the

direct rollover for the benefit of the distributee and that the recipient plan is, or

is intended to be, an individual retirement

account, an individual retirement annuity,

a qualified annuity plan described in section 403(a), or a qualified trust described

in section 401(a), as applicable.

Section 1.401(a)(31)-1, Q&A-6(b),

provides that a plan will fail to satisfy section 401(a)(31) if the plan administrator

prescribes any unreasonable procedure,

or requires information or documentation,

that effectively eliminates or substantially

impairs the distributee’s ability to elect a

Bulletin No. 2026–35

direct rollover. As an example, Q&A-6(b)

provides that it would effectively eliminate

or substantially impair the distributee’s

ability to elect a direct rollover if the plan

administrator prescribed any unreasonable procedure, or required information or

documentation, that effectively eliminated

or substantially impaired the distributee’s

ability to elect a direct rollover. Q&A-6(b)

provides the following as examples: (1)

the recipient plan required the distributee

to obtain an opinion of counsel stating that

the eligible retirement plan receiving the

rollover is a qualified plan or individual

retirement account; (2) the distributing

plan required a letter from the recipient plan stating that, upon request by the

distributing plan, the recipient plan will

automatically return any direct rollover

amount that the distributing plan advises

the recipient plan was paid incorrectly;

and (3) the distributing plan required, as

a condition for making a direct rollover, a

letter from the recipient plan indemnifying the distributing plan for any liability

arising from the distribution.

Section 1.401(a)(31)-1, Q&A-14(a),

provides that if a plan accepts an invalid

rollover contribution, the contribution

will be treated, for purposes of applying

the qualification requirements of section

401(a) or 403(a) to the receiving plan, as

if it were a valid rollover contribution if

two conditions are satisfied. First, when

accepting the amount from the employee

as a rollover contribution, the plan administrator of the receiving plan must reasonably conclude that the contribution is a

valid rollover contribution. Second, if the

plan administrator of the receiving plan

later determines that the contribution was

an invalid rollover contribution, the plan

administrator must distribute the amount

of the invalid rollover contribution, plus

any earnings attributable thereto, to the

employee within a reasonable time after

such determination.

Under § 1.401(a)(31)-1, Q&A-14(b)

(1), an invalid rollover contribution is an

amount that is accepted by a plan as a rollover within the meaning of §1.402(c)-2 (or

as a rollover contribution within the meaning of section 408(d)(3)(A)(ii)) but that is

not an eligible rollover distribution from a

qualified plan (or an amount described in

section 408(d)(3)(A)(ii)) or that does not

satisfy the other requirements of section

199

401(a)(31), 402(c), or 408(d)(3) for treatment as a rollover or rollover contribution.

Under § 1.401(a)(31)-1, Q&A-14(b)(2), a

valid rollover contribution is a contribution that is accepted by a plan as a rollover

within the meaning of § 1.402(c)-2(a)(1)

(v), or as a rollover contribution within the

meaning of section 408(d)(3), and that satisfies the requirements of section 401(a)

(31), 402(c), or 408(d)(3) for treatment as

a rollover or rollover contribution.

Section 1.401(a)(31)-1, Q&A-14(c),

provides several examples illustrating

situations in which an administrator of a

receiving plan may reasonably conclude

that a distributing plan is a qualified plan

and that a potential rollover contribution

is a valid rollover contribution.

Revenue Ruling 2014-9, 2014-17 IRB

975, describes two factual scenarios under

which, absent any evidence to the contrary,

a plan administrator may reasonably conclude that a potential rollover contribution

is a valid rollover contribution. In the first

scenario, the receiving plan administrator relies on the coding in the distributing

plan’s Form 5500 that indicates the distributing plan administrator’s representation that the distributing plan is intended

to be a plan qualified under § 401, 403,

or 408. In the second scenario, the receiving plan administrator determines that the

source of the funds is a traditional, non-inherited IRA where the IRA trustee issued

a check payable to “IRA of Employee A,”

the IRA owner certified that the distribution included no after-tax amounts, and

the IRA owner had not attained the age to

begin receiving minimum required distributions.

B. Section 324 of the SECURE 2.0 Act

Section 324 of the SECURE 2.0 Act

provides that the guidance in the form of

sample forms must be written in a manner

calculated to be understood by the average person and used by both transferring

individual retirement plans and eligible

retirement plans (distributing plans) and

individual retirement plans and eligible

retirement plans that receive the transfer (receiving plans). In developing this

guidance, the Treasury Department must

obtain relevant information from participants and plan sponsor representatives

and consider potential coordination with

August 24, 2026

sections 319 and 336 of the SECURE 2.0

Act.1

C. GAO Reports

The Treasury Department and the IRS

reviewed reports released by the Governmental Accountability Office (GAO) that

discuss the rollover process in developing

this guidance. Certain GAO reports were

particularly relevant, including the March

7, 2013, report 401(k) Plans: Labor and

IRS Could Improve the Rollover Process

for Participants, GAO-13-30 (2013 GAO

Report).

The 2013 GAO Report indicates that

the direct rollover process is inefficient

because, lacking uniformity as to what

they require to verify and complete rollovers, retirement plans do not have standard rollover procedures.2 This lack of

uniformity may lead to confusion and

frustration for participants, who are frequently burdened with completing the

rollover, and who serve as the intermediary between a distributing plan and a

receiving plan.3

The 2013 GAO Report also recommends that the IRS revise existing Treasury Regulations that permit a retirement

plan to mail paper checks to participants

as part of the rollover process. Permitting

a distributing plan to mail a paper check to

a participant puts the onus on the participant to transmit the check to the receiving

plan, and in the process, the check may be

lost or misplaced. In addition, this indirect

process can take significant time, during

which a participant’s retirement account

does not receive interest or dividends.4

The 2013 GAO Report indicates that the

“practice of sending direct rollover checks

to participants appears archaic when communications are increasingly conducted

electronically.”5 The 2013 GAO Report

suggests that the IRS revise the rules so

that direct rollover checks would be sent

only “to the receiving entities to which the

checks are written.”6

Building on previous reporting, the

January 18, 2024, report 401(k) Plans:

Additional Federal Actions Would Help

Participants Track and Consolidate Their

Retirement Savings, GAO-24-103577

(2024 GAO Report), describes a GAO

survey of 401(k) plan participants who

recently completed a rollover and found

that some participants continue to view

the rollover process as challenging.7

The 2024 GAO Report also states that

nearly one-third of participants receive

paper checks that they must then send

to a receiving plan.8 The 2024 GAO

Report notes that resolving challenges

in the rollover process is as important as

ever, because “workers may change jobs

up to 10 or more times during a 40-year

career and accumulate as many retirement

accounts that they would need to track and

manage.”9

In conversations with the Treasury

Department and the IRS, several stakeholders described issues and concerns

similar to those included in the GAO

reports. In particular, stakeholders mentioned that the rollover process suffers

from a lack of efficiency, consistency,

and uniformity, and is burdensome to

participants. Stakeholders also mentioned that it is common for plans to send

and receive paper checks in the rollover

process.

D. IRA-to-IRA Transfers

The GAO Reports focus on rollovers to

or from retirement plans and do not focus

on IRA-to-IRA transfers. IRA-to-IRA transfers usually are completed through the Automated Customer Account Transfer Service

(ACATS), which is an electronic transfer

system developed to automate and standardize account transfers. In conversations with

the Treasury Department and the IRS, several stakeholders described the advantages

of ACATS, including its uniformity and efficiency. The Financial Industry Regulatory

Authority (FINRA) has created a standard,

uniform protocol for electronic transfers via

ACATS that all FINRA member organizations must agree to utilize before transferring

assets via ACATS.10 Among other things,

these rules require members to “expedite and

coordinate activities with respect to the transfer,” which allows the receiving organization

to initiate the transfer directly and electronically without involvement of the participant.11

III. GUIDANCE

The Treasury Department and the IRS

have developed guidance in the form of

sample forms, which are attached as an

Appendix to this notice. These sample forms

are intended to simplify, standardize, facilitate, and expedite the completion of direct

rollovers to or from a retirement plan. The

forms are not intended to be used for IRAto-IRA rollovers or transfers, but may be

used for rollovers to or from an IRA.

The sample forms are designed to

effectuate the following protocols: 1) protecting participants’ personal identifying

information (PII)12 by the use of encrypted

Section 319 of the SECURE 2.0 Act requires the Treasury Department (along with the Department of Labor and the Pension Benefit Guaranty Corporation) to review existing reporting and

disclosure requirements for retirement plans under the Employee Retirement Income Security Act of 1974, Pub. L. 93-406, 88 Stat. 829, as amended, and to provide a report to Congress

on the effectiveness of the applicable reporting and disclosure requirements. Under Section 336 of the SECURE 2.0 Act, the Governmental Accountability Office (GAO) was required to

analyze the notice provided by retirement plan administrators to plan participants in accordance with Code section 402(f) and provide a report to Congress. The GAO published a report

under Section 336 of the SECURE 2.0 Act on May 22, 2024. See GAO, 401(k) Retirement Plan Tax Notices: Federal Actions Can Help Participants Understand Their Distribution Options,

GAO-24-107167 (May 22, 2024).

2013 GAO Report at 18.

Id. at 19 and 21.

Id. at 20.

Id. at 45.

Id. at 47.

2024 GAO Report.

Id. at 66.

Id. at 87.

FINRA Rule 11870.

Id.

The Department of Labor has noted that it is a best practice for recordkeepers and other service providers responsible for plan-related IT systems and data to encrypt sensitive data stored

and in transit. The Labor Department notes that these IT systems “should implement current, prudent standards for encryption keys, message authentication and hashing to protect the confidentiality and integrity of the data at rest or in transit.” See Department of Labor, Cybersecurity Program Best Practices, https://www.dol.gov/agencies/ebsa/key-topics/retirement-benefits/

cybersecurity/best-practices.

August 24, 2026

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Bulletin No. 2026–35

data transfers and the creation of a unique

“rollover identification number” (RIN)—

assigned by the receiving plan—in all

communications between the plans with

respect to a rollover; 2) requiring coordination and communication between plans

to facilitate rollovers and to minimize

participants’ burden; 3) utilizing a standard set of data so that common terms are

used throughout the rollover process; 4)

requiring plans to verify the accuracy of

information with respect to a participant’s

rollover request and the legitimacy of the

rollover before transferring funds; and 5)

requiring electronic communications and

rollover transfers to the maximum extent

possible.

Consistent with federal policy that

favors the use of electronic payments,13

plans are encouraged to complete rollovers electronically. Although the forms

suggest use of electronic rollover transfers

when possible, they also include protocols

if a distributing plan is unable to complete the rollover electronically. In that

instance, the distributing plan is directed

to make the check payable to the participant’s receiving plan “for the benefit”

of the participant and to mail or send the

check directly to the receiving plan.

Plans are encouraged to program the

forms, or the procedures and protocols

included in the forms, into an Application

Programming Interface (API) or for use

on a clearinghouse or other electronic platform. In programming their own forms,

plans are encouraged to standardize and

streamline the rollover process by using

the same data, procedures, and protocols

(including use of a RIN and protection of

participants’ PII) as used in the sample

forms and described in this guidance.

Use of the sample forms and proposed rollover procedures is optional. As

described in section IV of this notice, the

Treasury Department and the IRS are considering additional guidance on rollover

procedures. The Treasury Department and

the IRS are not currently providing safe

harbors based on the use of the sample

forms and proposed rollover procedures.

Stakeholders are encouraged to provide

comments on the sample forms and proposed rollover procedures, as discussed in

section V of this notice. After considering

these comments, the Treasury Department

and the IRS will consider providing safe

harbors based on the use of the sample

forms and proposed rollover procedures,

as discussed in section IV of this notice.

IV. ADDITIONAL GUIDANCE

UNDER CONSIDERATION

REGARDING SECTION 324 OF THE

SECURE 2.0 ACT

The Treasury Department and the IRS

are considering additional guidance on

protocols or procedures that would simplify, standardize, facilitate, and expedite the rollover process in furtherance

of section 324 of the SECURE 2.0 Act.

This section describes the guidance under

consideration, and section V of this notice

requests comments on the issues raised.

1. Guidance amending (a) Treasury

Regulations under § 1.401(a)(31)-1

to remove Q&A-4, which allows

paper checks to be sent to participants

to complete a direct rollover, and (b)

Revenue Ruling 2014-9 to remove

the safe harbor in Situation 2.

2. Guidance that would require administrators and trustees to complete rollovers via electronic transfers or paper

checks mailed or sent directly to the

receiving plan.

3. Guidance providing for new safe harbors based on the use of sample forms

similar to the sample forms attached

as an Appendix to this Notice. For

example, this guidance could indicate

that if the sample forms are used, the

receiving administrator or trustee is

permitted, absent any evidence to the

contrary, to reasonably conclude that

the distributing plan is tax-qualified

and that the potential rollover contribution is a valid rollover contribution.

Similarly, the guidance could include

a safe harbor that the distributing

administrator or trustee is permitted,

absent any evidence to the contrary, to

reasonably conclude that no withholding on the rollover contribution is necessary. However, these safe harbors

would apply only to the transferability

of a rollover and not to any requirements that apply to a distributing plan

in making a distribution, for example,

obtaining spousal consent or making a

required minimum distribution.

4. Guidance providing that certain practices constitute impermissible procedures, in addition to those listed

under § 1.401(a)(31)-1, Q&A-6(b).

For example, this guidance could

clarify that requiring use of a Medallion Signature Guarantee or distribution letters and other burdensome

requests would be impermissible. In

addition, guidance could provide that

it is impermissible for a distributing

plan to prevent a participant from

choosing to complete a rollover via

electronic transfer to a receiving plan,

assuming both plans have capability

for such an electronic transfer.

The Treasury Department and the IRS

acknowledge that any guidance requiring

electronic transfers or eliminating the use

of transfers by paper check would require

administrators and trustees to update

administrative procedures for processing

rollover requests and distributions. The

Treasury Department and the IRS also

acknowledge that completing rollovers

via electronic transfers may require electronic infrastructure and processes that

have not been built or established at this

time. Accordingly, any such guidance

would not be effective until administrators

and trustees have been given sufficient

time to implement changes to their systems to comply with such guidance.

V. REQUEST FOR COMMENTS

The Treasury Department and the IRS

invite comments and suggestions regarding the matters discussed in section IV

of this notice, the sample forms in the

Appendix, and any other aspect of sec-

This policy is reflected in Executive Order 14247, Modernizing Payments To and From America’s Bank Account, signed on March 25, 2025, which directed the Treasury Department, in

coordination with the IRS and other federal agencies, to transition to fully electronic federal payments. The purposes of EO 14247 are to defend against financial fraud and improper payments,

increase efficiency, reduce costs, and enhance the security of federal payments. For example, EO 14247 states that Treasury Department checks are over 16 times more likely to be lost, stolen,

altered, or delayed than electronic payments. For more information, see “Modernizing payments to and from America’s bank account” on the IRS website.

Bulletin No. 2026–35

201

August 24, 2026

tion 324 of the SECURE 2.0 Act. In particular, the Treasury Department and the

IRS request comments on section IV of

this notice, including whether and how

future guidance could foster the adoption

of technology standards, platforms, or

automated solutions that would simplify

and facilitate the rollover process, and

what time frames would be necessary to

implement the guidance. The Treasury

Department and the IRS seek comments

on how stakeholders could be encouraged

to develop new or expanded procedures

that minimize administrative burdens for

participants and protect them from unnecessary cost and confusion.

August 24, 2026

Comments should be submitted in

writing on or before October 23, 2026,

and should include a reference to Notice

2026-49. Comments may be submitted

electronically via the Federal eRulemaking Portal at www.regulations.gov (type

“IRS-2026-0100” in the search field on

the Regulations.gov home page to find

this notice and submit comments). Alternatively, comments may be submitted by

mail to: Internal Revenue Service, Attn:

CC:PA:01:PR (Notice 2026-49), Room

5503, P.O. Box 7604, Ben Franklin Station, Washington, DC 20044.

The Treasury Department and the IRS

will publish for public availability any

202

comment submitted electronically or on

paper to their public docket.

VI. DRAFTING INFORMATION

The principal author of this notice is

Gregory Burns of the Office of Associate Chief Counsel (Employee Benefits,

Exempt Organizations, and Employment Taxes). However, other personnel

from the Treasury Department and the

IRS participated in the development of

this guidance. For further information

regarding this notice, contact Gregory

Burns at (202) 317-6700 (not a toll-free

number).

Bulletin No. 2026–35

APPENDIX: SAMPLE FORMS AND PROPOSED ROLLOVER PROCEDURES

This appendix contains four sample forms and proposed rollover procedures for plan administrators and IRA trustees to use for

purposes of completing an individual’s (Participant’s) request to roll over the Participant’s retirement savings from an employer plan

or IRA (Distributing Plan) to another employer plan or IRA (Receiving Plan), where one or both plans is an employer plan and no

more than one of the plans is an IRA. The forms are not intended to be used for IRA-to-IRA rollovers or transfers.

These sample forms contemplate five sequential proposed rollover procedures to complete a Participant’s rollover request:

• Step 1: the Participant submits a rollover request to the Receiving Plan using Form 1 (Participant’s Rollover Request), including

an executed Participant’s Rollover Request Authorization.

• Step 2: the Receiving Plan submits the Participant’s rollover request to the Distributing Plan using Form 2 (Receiving Plan’s

Request to Distributing Plan) with the Participant’s Rollover Request Authorization attached.

• Step 3: the Distributing Plan verifies the accuracy of the information on Form 1. Following verification, the Distributing Plan

uses Form 3 (Distributing Plan’s Rollover Certification) to transmit information to the Receiving Plan about the Participant’s

Distributing Plan account, including the possible rollover transfer methods.

• Step 4: the Receiving Plan verifies that it can receive the rollover. Following verification, the Receiving Plan uses Form 4

(Receiving Plan’s Rollover Acceptance) to accept the rollover and select one of the rollover transfer methods offered by the

Distributing Plan.

• Step 5: the Distributing Plan transfers the rollover to the Receiving Plan using the selected rollover transfer method.

Plans may modify the forms as necessary, including to comply with applicable law (for example, federal and state privacy laws).

Plans may provide specific information supplementing or clarifying the information requested on the forms in the spaces provided or

as an addendum to the forms. Plans may also program the forms into an API or for use on a clearinghouse or other electronic platform.

Use of the sample forms is optional. However, plans are encouraged to use the rollover procedures described in this Appendix,

consistent with the procedures and protocols described in section III of this notice. Accordingly, plans are encouraged to include the

rollover procedures and protocols when using any alternate programming or forms, especially because other plans may use the sample forms. If a plan elects to use the sample forms the plan should complete the form as fully as possible, to avoid unnecessary delay.

To the extent that information is transmitted electronically, plans should use a system that uses data encryption to protect a Participant’s personal identifying information (PII). For purposes of easily identifying a specific rollover requested by a Participant and

reducing the transmission of the Participant’s PII, the forms require the use of a rollover identification number (RIN), which is generated by use of a unique code, such as a 20-digit alphanumeric combination. Plans should include the RIN on all forms and other

communications with respect to the identified rollover request.

To protect a Participant’s PII, the forms must be transmitted securely. If a plan does not have the means to securely transmit a form,

it should first contact the other plan to discuss how to securely transmit the information on the form.

The following are the steps of the proposed rollover procedure.

Step 1: Participant submits Rollover Request to Receiving Plan

A Participant fills out Form 1 (Participant’s Rollover Request), including the Participant’s Rollover Request Authorization, and

securely transmits that form to the Receiving Plan. The purpose of Form 1 is for the Receiving Plan to have enough information

about the Distributing Plan so that it can establish a secure line of communication with the Distributing Plan regarding the requested

rollover. A Participant should contact either the Distributing Plan or Receiving Plan if the Participant does not know or have access

to the information required. The Receiving Plan should immediately inform the Participant if any necessary information on Form 1

is incomplete or if its administrator or trustee cannot accept the rollover.

Form 1 gives the Receiving Plan authorization to act on the Participant’s behalf to request a rollover from the Distributing Plan.

Form 1 assumes that the Participant requesting the rollover already has an account in the Receiving Plan. To prevent unnecessary

delay, the Receiving Plan may make Form 1 applicable only to existing accounts. Or it may permit the Participant to open an account

in the plan at any time before the Receiving Plan securely transmits Form 4 to the Distributing Plan.

To simplify the rollover process, Receiving Plans are encouraged to make Form 1 available electronically, including by use of fillable PDFs or online form fields that are securely transmitted. Distributing Plans are also encouraged to include information necessary

to complete Form 1 on their websites. In the alternative, plans are encouraged to inform Participants on their websites how they may

request Form 1 and information necessary to complete Form 1.

Step 2: Receiving Plan submits Rollover Request and Authorization to Distributing Plan

Upon receiving Form 1 from a Participant, the Receiving Plan should (1) create a RIN and add it to the Participant’s Rollover

Request Authorization (attached to Form 1) and (2) complete Form 2 (Receiving Plan’s Request to Distributing Plan). The Receiving

Plan should then securely transmit Form 2, together with a copy of Participant’s Rollover Request Authorization (attached to Form

1), to the Distributing Plan.

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August 24, 2026

On Form 2, the Receiving Plan selects one or more methods that may be used to securely

communicate with the Receiving Plan. The Receiving Plan also selects one or more methods by which

it can accept a rollover transfer from the Distributing Plan. The Receiving Plan should select electronic

communications and rollover transfer methods that it can use. The Receiving Plan should also provide

the name and contact information (including address, e-mail, and phone number) of a person who the

Distributing Plan may contact to resolve any issues with respect to the rollover request.

Step 3: Distributing Plan verifies accuracy of Rollover Request and securely transmits information about the Participant’s

Distributing Plan account to Receiving Plan

Upon receiving Form 2 from the Receiving Plan, the Distributing Plan should take steps to independently verify the information

on the form. This could include verifying that the Participant is eligible to take a distribution (including obtaining necessary spousal

consent) and verify that the Participant’s name, last four digits of the Participant’s Social Security number (SSN), and the Participant’s date of birth match the plan’s records. The Distributing Plan should also take steps to ensure that the Participant has requested

a rollover. For example, the plan could deploy phishing-resistant multi-factor authentication to validate the request. The plan could

also work with an established financial intermediary to facilitate and verify the accuracy of the transfer request, similar to what is

commonly used in ACATS transfers involving IRAs.

Upon verifying the rollover request, the Distributing Plan should complete Form 3 (Distributing Plan’s Rollover Certification) and

securely transmit the form to the Receiving Plan. The Distributing Plan should use any of the communication methods selected by the

Receiving Plan on Form 2 to transmit Form 3 and any other correspondence to the Receiving Plan with respect to the rollover request.

The Distributing Plan should contact the Receiving Plan if it is unable to use any of the selected methods.

On Form 3, the Distributing Plan should select methods that it can use to transfer the rollover to the Receiving Plan and that match

the methods selected by the Receiving Plan on Form 2. The Distributing Plan should select an electronic transfer method if it can use

one. The Distributing Plan should also provide the name and contact information (including address, e-mail, and phone number) of a

person who the Receiving Plan may contact to resolve any issues with respect to the rollover request.

These forms do not address other requirements that apply to the Distributing Plan in making a distribution, including compliance

with spousal consent and required minimum distribution rules. If there is a need for additional information, a plan requirement to

meet, or an issue to resolve before a rollover can occur, the Distributing Plan should contact the Receiving Plan to resolve the issue

before completing Form 3. If the Distributing Plan cannot verify that the Participant has requested a rollover and is eligible to take

a distribution (including obtaining necessary spousal consent), the Distributing Plan should notify the Receiving Plan of the issue

without completing Form 3. The Receiving Plan should then notify the Participant of the issue.

Step 4: Receiving Plan approves Rollover Request and securely transmits selected Transfer Method to Distributing Plan

Upon receiving Form 3 from the Distributing Plan, the Receiving Plan should complete Form 4 (Receiving Plan’s Rollover

Acceptance) and securely transmit it to the Distributing Plan. On Form 4, the Receiving Plan selects the method that will be used to

transfer the rollover from the Distributing Plan to the Receiving Plan, providing its account number or mailing address for the selected

method. The Receiving Plan should select an electronic transfer method if the Distributing Plan has indicated on Form 3 that it can

use one. The Receiving Plan selects the method of transfer so that it is aware to expect the transfer using that method. The Receiving

Plan may permit more than one electronic method of transfer.

If a check is the only possible transfer method that both plans can use, the Receiving Plan should require that the check be payable to the Receiving Plan for the benefit of the Participant (including the RIN in the check memo) and mailed or sent directly to the

Receiving Plan’s mailing address.

If there is a need for additional information, a plan requirement to meet, or an issue to resolve before a rollover can occur, the

Receiving Plan should contact the Distributing Plan to resolve the issue before filling out Form 4.

Step 5: Distributing Plan transfers Rollover to Receiving Plan

Upon receiving Form 4, the Distributing Plan should promptly and securely transfer the Participant’s requested rollover to the

Receiving Plan using the account number or mailing address provided by the Receiving Plan on Form 4. The Receiving Plan should

contact the Distributing Plan if it does not receive the transfer within a reasonable time after the date the Receiving Plan transmitted

Form 4 to the Distributing Plan.

August 24, 2026

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Bulletin No. 2026–35

Form 1: Participant’s Rollover Request

Use this form if you (Participant) want to move your retirement savings currently held in an employer’s plan or an IRA (Distributing

Plan) into an account in a different employer plan or IRA (Receiving Plan). (Do not use this form for an IRA-to-IRA transfer.) Contact

either the Distributing Plan or Receiving Plan if you do not know or have access to the information required on this form.

1. PARTICIPANT INFORMATION

• Full Name:

• SSN last 4 digits:

• Date of Birth:

• Receiving Plan or IRA Account Number (if opened):

• Address:

• Preferred Contact (phone and/or e-mail):

2. DISTRIBUTING PLAN INFORMATION

• Employer/Plan Name (if employer plan):

• Plan Number and/or Account Number:

• Administrator or Trustee Name:

o TIN (if provided):

o Address (if provided):

o Phone (if provided):

o Fax and/or e-mail (if provided):

o Contact Person’s Name (if provided):

3. DISTRIBUTING PLAN ACCOUNT TYPE (specify only one account type per form)

☐ Qualified Plan (including 401(k) Plan)

☐ 403(b) Plan

☐ 457(b) Plan

☐ Traditional IRA (including SEP or SIMPLE IRA)

4. AMOUNT AND TYPE IN DISTRIBUTING PLAN ACCOUNT TO MOVE (check all that apply)

☐ Entire amount

☐ Entire pre-tax amount

☐ Entire Roth amount

☐ Specific amount(s) (specify type and percentage): ______________________

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August 24, 2026

[This page to be sent to Distributing Plan Administrator or Trustee.]

Participant’s Rollover Request Authorization

By signing below, I confirm that:

• To the best of my knowledge, all information provided on this form is correct, and the distribution qualifies as an eligible rollover

distribution.

• I authorize and direct the Receiving Plan to contact the Distributing Plan administrator or trustee listed above.

• I authorize and direct the administrator or trustee of the Distributing Plan to roll over the specified amount in the Distributing

Plan to the Receiving Plan via an electronic transfer.

• I authorize and direct the administrator or trustee of the Receiving Plan to coordinate with the administrator or trustee of the

Distributing Plan to take any necessary steps required to achieve the rollover and to notify me if there are any issues.

• I authorize and direct the Distributing Plan to take any necessary actions required to achieve the rollover, including liquidating

any investment positions, closing the account, and assessing any fees under the terms of the Distributing Plan account.

• I understand the type of retirement savings (pre-tax or Roth) remains the same.

• I understand the Receiving Plan will invest the assets rolled into the Receiving Plan according to my investment election with

the Receiving Plan (or the Receiving Plan’s default investment if I have not made an election).

Signature: ______________________________________ Date: ________________

Printed Name:

SSN last 4 digits:

Date of Birth:

Receiving Plan Name:

_________________________________________________________________________________________________________

TO BE ASSIGNED by Receiving Plan or IRA Administrator or Trustee

Rollover ID Number (RIN) for this rollover request:

FORM INSTRUCTIONS:

Rollover ID Number: The Receiving Plan assigns a rollover ID number to this rollover request, and Plans must include it on all

correspondence with respect to this rollover.

August 24, 2026

206

Bulletin No. 2026–35

Form 2: Receiving Plan’s Request to Distributing Plan

On behalf of the plan participant or IRA owner named below (Participant), the plan or IRA named below (Receiving Plan) requests

a rollover from the plan or IRA named below (Distributing Plan). This form confirms that the Receiving Plan will accept a retirement savings rollover from the Distributing Plan, as requested by the Participant in the attached Rollover Request Authorization,

in accordance with applicable provisions of the Internal Revenue Code and the information Receiving Plan has received from the

Participant, as provided on this form, pending the Distributing Plan’s certification that the rollover is eligible and the Distributing

Plan is tax-qualified.

1. PARTICIPANT INFORMATION

• Full Name:

• SSN last 4 digits:

• Date of Birth:

2. ROLLOVER ID NUMBER (RIN):

3. DISTRIBUTING PLAN NAME AND OTHER INFORMATION:

4. DISTRIBUTING PLAN ACCOUNT TYPE (specify only one account type per form)

☐ Qualified Plan (including 401(k) Plan)

☐ 403(b) Plan

☐ 457(b) Plan

☐ Traditional IRA (including SEP or SIMPLE IRA)

5. AMOUNT AND TYPE PARTICIPANT REQUESTED TO MOVE

☐ Entire amount

☐ Entire pre-tax/traditional IRA amount

☐ Entire Roth amount

☐ Specific amount(s) (specify type and percentage): _____________________

6. RECEIVING PLAN INFORMATION

• Employer/Plan Name (if employer plan):

• Plan Number and/or Account Number:

• Administrator or Trustee Name:

o TIN:

o Address:

o Phone:

o Fax and/or e-mail:

o Name of Specific Person to Resolve Issues:

o Phone of Specific Person:

o E-mail of Specific Person:

o Address and Fax of Specific Person if different than above:

7. ACCEPTABLE ROLLOVER METHODS (check all that are possible)

☐ ACH

☐ Electronic Platform or Clearinghouse, as specified: ________________________

☐ Other, as specified: _________________________________________________

8. PREFERRED COMMUNICATION METHODS (check or number preference order)

☐ By e-mail: _____________________________________________________________________________________________

☐ By fax: _______________________________________________________________________________________________

☐ By secure portal or electronic platform: ______________________________________________________________________

☐ Other: ________________________________________________________________________________________________

9. PROVIDE ANY ADDITIONAL INFORMATION:

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August 24, 2026

10. CERTIFICATION

To the best of my knowledge, all information provided is correct, the Receiving Plan is tax-qualified, and these amounts are eligible

for rollover to the Receiving Plan.

Print Name: ______________________________________________________________________________________________

Title: ____________________________________________________________________________________________________

Authorized Signature: ______________________________________________________________________________________

Date: ________________

FORM INSTRUCTIONS

Rollover ID Number: Plans must include the RIN assigned by the Receiving Plan on all correspondence with respect to this rollover.

Acceptable Rollover and Preferred Communication Methods: The Receiving Plan should indicate which methods it is able to use.

The Distributing Plan should contact the Receiving Plan if it cannot use a method selected by the Receiving Plan.

Return Distributing Plan Certification (Form 3) to Receiving Plan: Once the Distributing Plan is ready to transfer the rollover

funds to the Receiving Plan, the Distributing Plan should fill out and send Form 3 (separate from and before transferring the funds)

to the Receiving Plan, using a preferred communication method of the Receiving Plan.

Do Not Transfer Rollover until Instructed: The Distributing Plan should not transfer the rollover funds until it receives the Receiving Plan’s confirmation on a separate form (Form 4) that it is ready to accept the rollover. Form 4 will include the Receiving Plan’s

account number or mailing address for purposes of the transfer.

August 24, 2026

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Form 3: Distributing Plan’s Rollover Certification

On behalf of the plan participant or IRA owner named below (Participant), the plan or IRA named below (Distributing Plan) has

received a request from the plan or IRA named below (Receiving Plan) to roll over amounts held in the Distributing Plan, as requested

by the Participant. This form confirms that the Distributing Plan is tax-qualified and that the amounts are eligible for rollover, using

a rollover method selected below.

Participant Name:

Rollover ID Number (RIN):

Receiving Plan:

Receiving Plan Contact Person:

1. DISTRIBUTING PLAN INFORMATION

• Employer/Plan Name (if employer plan):

• Plan Number and/or Account Number:

• Administrator or Trustee Name:

o TIN:

o Address:

o Phone:

o Fax and/or e-mail:

o Name of Specific Person to Resolve Issues:

o Phone of Specific Person:

o E-mail of Specific Person:

o Address and Fax of Specific Person if different than above:

2. DISTRIBUTING PLAN ACCOUNT TYPE (specify only one account type per form)

☐ Qualified Plan (including 401(k) Plan)

☐ 403(b) Plan

☐ 457(b) Plan

☐ Traditional IRA (including SEP or SIMPLE IRA)

3. ACCOUNT INFORMATION

Type of Savings

Amount ($)

Total Amount

Pre-tax Amount

Roth Amount

Roth Basis

After-tax Amount

After-tax Basis

Year of Initial Roth Contributions

3. ACCEPTABLE ROLLOVER METHODS (check all that are possible, or number preference order, and that match Receiving Plan’s acceptable rollover methods)

☐ ACH

☐ Electronic Platform or Clearinghouse, as specified: ____________________________________________________________

☐ Other, as specified: ______________________________________________________________________________________

If none of the Distributing Plan’s possible rollover methods match the Receiving Plan’s acceptable rollover methods, contact the

Receiving Plan to resolve.

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August 24, 2026

4. PROVIDE ANY ADDITIONAL INFORMATION:

If there are any reasons that the rollover cannot be completed, Distributing Plan should contact the Receiving Plan to obtain the

necessary information or resolve the issues before completing this form.

5. CERTIFICATION

To the best of my knowledge, all information provided is correct, the Distributing Plan is tax-qualified, and these amounts are eligible

for rollover.

Print Name: ______________________________________________________________________________________________

Title: ____________________________________________________________________________________________________

Authorized Signature: ______________________________________________________________________________________

Date: ________________

FORM INSTRUCTIONS

Rollover ID Number: Plans must include the RIN assigned by the Receiving Plan on all correspondence with respect to this rollover.

Advise Other Plan of Issues to be Resolved: If there are any issues that need to be resolved, contact the Receiving Plan to resolve

the issue before filling out this form.

Return Distributing Plan Certification (Form 3) to Receiving Plan: Once the Distributing Plan is ready to transfer the rollover

funds to the Receiving Plan, the Distributing Plan should fill out and send Form 3 (separate from and before transferring the funds)

to the Receiving Plan, using a preferred communication method of the Receiving Plan.

account number or mailing address for purposes of the transfer.

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Form 4: Receiving Plan’s Rollover Acceptance

On behalf of the plan participant or IRA owner named below (Participant), the plan or IRA named below (Receiving Plan) has

received certification from the plan or IRA named below (Distributing Plan) that it is ready to transfer the funds, as requested by the

Participant. This form confirms that the Receiving Plan is now ready to accept the rollover from the Distributing Plan to the Receiving

Plan’s account listed below.

Participant Name:

Rollover ID Number (RIN):

Distributing Plan:

Distributing Plan Contact Person:

1. RECEIVING PLAN INFORMATION

• Employer/Plan Name (if employer plan):

• Plan Number and/or Account Number:

• Administrator or Trustee Name:

o TIN:

o Address:

o Phone:

o Fax and/or e-mail:

o Name of Specific Person to Resolve Issues:

o Phone of Specific Person:

o E-mail of Specific Person:

o Address and Fax of Specific Contact if different than above:

2. SELECTED ROLLOVER METHOD

The Receiving Plan will accept the rollover via the following specified method or platform:

☐ ACH:

o Routing Number:

o Account Number:

☐ Electronic Platform or Clearinghouse, as specified:_____________________________________________________________

☐ Other, as specified: ______________________________________________________________________________________

3. PROVIDE ANY ADDITIONAL INFORMATION:

Print Name: ______________________________________________________________________________________________

Title: ____________________________________________________________________________________________________

Authorized Signature: ______________________________________________________________________________________

Date: ________________

FORM INSTRUCTIONS: Contact the Distributing Plan if there are any additional issues to be resolved before sending this form to

the Distributing Plan. Contact the Distributing Plan if the transfer is not received within a reasonable time after sending this form.

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Application Procedures

for Letter Rulings and

Nonbank Trustee Approval

Letters from IRS Employee

Plans

Rev. Proc. 2026-30

SECTION 1. PURPOSE

This revenue procedure modifies

the procedures in Rev. Proc. 2026‑4,

2026‑1 IRB 160, for requesting letter

rulings and nonbank trustee approval letters (collectively, Letter Rulings) under

the jurisdiction of the Commissioner,

Tax Exempt and Government Entities

Division, Employee Plans Rulings and

Agreements Office (Employee Plans Rulings and Agreements). This revenue procedure provides that, effective September 4, 2026, requests for Letter Rulings

under Rev. Proc. 2026‑4 must be submitted using Form 15662, Application for

Private Letter Rulings. Additionally, this

revenue procedure requires the use of an

electronic submission process on the pay.

gov website for all such Letter Ruling

requests submitted on or after September 4, 2026.

SECTION 2. BACKGROUND

.01 Rev. Proc. 2026‑4 provides detailed

instructions on how taxpayers can submit requests for Letter Rulings from the

Internal Revenue Service (IRS) on issues

under the jurisdiction of Employee Plans

Rulings and Agreements. Although the

IRS issued Form 15662 in 2025 to simplify and standardize the submission process for Letter Rulings requested from

Employee Plans Rulings and Agreements,

Rev. Proc. 2026‑4 does not require the

use of a single, standardized form for all

Letter Ruling submissions, nor does that

revenue procedure provide for payment

of user fees for Letter Rulings through the

www.pay.gov portal.

.02 Rev. Proc. 2026‑4 generally

requires taxpayers to mail or hand deliver

requests for Letter Rulings to a specified

address along with a paper check for the

applicable user fee. This revenue procedure amends the submission process to

August 24, 2026

require that a request for a Letter Ruling (including Form 15662, information

required by Rev. Proc. 2026‑4 or any successor thereto, and the applicable user fee)

be submitted using pay.gov.

SECTION 3. MODIFICATIONS TO

REVENUE PROCEDURE 2026‑4

.01 The third paragraph of section 6.03(3) of Rev. Proc. 2026‑4 is modified to read as follows:

A request for expedited handling of a

request for a letter ruling will not be

forwarded to the appropriate group for

action until the user fee, in the correct

amount, is received.

.02 Section 27.08 of Rev. Proc. 2026‑4

is modified to read as follows:

Additional information can be sent by

fax, Taxpayer Digital Communications Secure Messaging, the IRS Document Upload Tool, or to the address

provided by the Service representative

who requested the information. The

additional information should include

the name and room number of the Service representative who requested the

information and the taxpayer’s name

and the case control number (which

the Employee Plans Rulings and

Agreements representative can provide).

.03 Section 30.07(4) of Rev. Proc.

2026‑4 is deleted in its entirety and

replaced with the following:

(4) Payment of user fees for letter ruling and nonbank trustee approval letter requests. User fees for letter ruling

and nonbank trustee approval letter

requests must be paid using www.pay.

gov. The Service no longer accepts

checks for letter ruling and nonbank

trustee approval letter submissions.

.04 Section 30.08 of Rev. Proc. 2026‑4

is modified to add the following paragraph

after section 30.08(2):

(3) Letter ruling and nonbank trustee

approval letter requests must be made

to the Service on www.pay.gov using

212

Form 15662, Application for Private

Letter Rulings.

.05 The first sentence of section 31.01

of Rev. Proc. 2026‑4 is modified to read

as follows:

.01 Requests should be submitted in the

manner prescribed in section 31.01(1),

mailed to the address provided in section 31.01(2), or mailed or hand delivered to the appropriate address provided in section 31.01(3).

.06 Section 31.01(1) is modified to read

as follows:

(1) Employee plans letter rulings and

nonbank trustee approval letters under

Rev. Procs. 87‑50, 90‑49, 2003‑16,

2010‑52, 2017‑57, 2024‑32, or this

revenue procedure:

Requests for letter rulings and nonbank trustee approval letters must

be submitted on www.pay.gov and

may not be mailed to the Service.

If a paper submission is mailed, the

submission will be returned to the

applicant, including any submitted

paper checks.

Requests for reconsideration of

user fees under section 30.11 for

letter rulings and nonbank trustee

approval letters should be mailed

to:

I nternal Revenue Service

Attention: EP Letter Rulings

SE:T:EP:RA:T:A2, IR-6213

1111 Constitution Avenue, NW

Washington, DC 20224-0002

.07 Section 31.01(3) is modified to read

as follows:

(3) Requests for employee plans opinion

letters described in section 31.01(2) of

this revenue pr

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