” The IRS released Revenue Procedure 2013-12 on December 31, 2012, which includes correction procedures for 403(b) Plans. Prior to the release of Revenue Procedure 2013-12, no guidance was available on how to correct certain failures that occur within a 403(b) plan. The following focuses on the correction procedure for failure to adopt a written plan by the deadline, which was included in Revenue Procedure 2013-12. ”
Custodian
Definition The definition of custodian depends on the responsibility of the financial institution. To make the necessary distinction between the different roles they play for
