Save time with our cheat sheets, fact sheets, checklists & books!

February 16, 2009

Plan administrator



The person or party responsible for handling the day-to-day administrative functions of the plan.

Responsibilities  of the plan administrator include

  • maintaining plan records,
  • preparing reports,
  • provide a written explanation to any recipient of an eligible rollover distribution
  • perform any required withholding from distributions and send the withheld amounts to the IRS as income tax withholding to be credited against the payee’s taxes. For instance, if an eligible rollover distribution is not processed as a directed rollover, the plan administrator is generally required to withhold 20% for federal taxes.
  • process distribution requests

Referring Cite

Plan’s adoption agreement

Additional Helpful Information

The plan administrator is usually the employer, unless the employer farms out the administrative responsibilities to another party.


Keep Learning

Qualified Charitable Distribution (QCD)

Definition A distribution that is excludable from the distributee’s income, as a result of meeting the following requirements: It is made after the distributee reaches

Saver’s Credit

Definition Also known as the Saver’s Tax Credit: Nonrefundable tax credit available to eligible individuals who make contributions to their retirement account. The saver’s credit

Catch-up Contribution

Definition An additional contribution that can be made to a retirement plan by a participant who is at least age-50 by the end of the

Be among the first to know when

IRA Rules