PART I. IDENTIFICATION OF FAILURE
Internal Revenue Bulletin 2008-35 · 2026-10-03 edition · updated 2026-10-04 · United States
The plan identified above did not comply with the requirements of § 72(p)(2) of the Internal Revenue Code. (Note: The conditions of § 72(p)(2) must be satisfied for a participant loan to be exempt from being treated as a distribution to the participant under § 72(p)(1).) The failure occurred for the following reason(s) (check applicable boxes and provide the information requested):
□ A. The loan(s) exceeded the limit under § 72(p)(2)(A)¶
□ B. Loan terms did not satisfy the limits on the duration of the loan under § 72(p)(2)(B)¶
□ C. Loan terms did not satisfy § 72(p)(2)(C) relating to the frequency and…¶
2008–35 I.R.B. 548 September 2, 2008
□ D. Defaulted loan(s) (where the loan terms satisfied the requirements of § 72(p)(2),…¶
payments were not made in accordance with the terms of the loan)
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