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previous page Previous Page: Publication 570 - Tax Guide for Individuals With Income from U.S. Possessions - Illustrated Example of Form 8689
next page Next Page: Publication 571 - Tax-Sheltered Annuity Plans (403(b) Plans) - 403(b) Plan Basics
 Use previous pagenext page to find additional occurrences of topic items.Index for this Publication
taxmap/pubs/p571-000.htm#en_us_publink1000129333
Publication 571

Tax-Sheltered 
Annuity Plans 
(403(b) Plans)


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For Employees of Public Schools and Certain 
Tax-Exempt Organizations


What's New for 2008(p1)


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Rollovers to Roth IRA.(p1)

Beginning January 1, 2008, distributions from tax-qualified retirement plans and tax-sheltered annuities can be converted by making a rollover into a Roth IRA subject to the restrictions that currently apply to rollovers from a traditional IRA into a Roth IRA.
taxmap/pubs/p571-000.htm#en_us_publink1000129336

Retirement savings contribution credit.(p1)

For 2008, the adjusted gross income limitations have increased from $52,000 to $53,000 for married filing jointly filers, from $39,000 to $39,750 for head of household filers, and from $26,000 to $26,500 for single, married filing separately, or qualifying widow(er) with dependent child filers. See chapter 10, Retirement Savings Contribution Credit, on page 19, for additional information.
taxmap/pubs/p571-000.htm#en_us_publink1000129337

Limit on elective deferrals.(p1)

For 2008, the limit on elective deferrals remains unchanged at $15,500.
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Limit on annual additions.(p1)

For 2008, the limit on annual additions has increased from $45,000 to $46,000.

What's New for 2009(p1)


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taxmap/pubs/p571-000.htm#en_us_publink1000125686

Temporary waiver of the minimum required distribution.(p1)

For calendar year 2009, there is a temporary waiver of the required minimum distribution from a 403(b) plan. See Minimum Required Distributions in chapter 8, for more information.
taxmap/pubs/p571-000.htm#en_us_publink1000129340

Retirement savings contribution credit.(p2)

For 2009, the adjusted gross income limitations have increased from $53,000 to $55,500 for married filing jointly filers, from $39,750 to $41,625 for head of household filers, and from $26,500 to $27,750 for single, married filing separately, or qualifying widow(er) with dependent child filers. See chapter 10, Retirement Savings Contribution Credit, on page 19, for additional information.

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taxmap/pubs/p571-000.htm#en_us_publink1000129341

Limit on elective deferrals.(p2)

For 2009, the limit on elective deferrals has increased from $15,500 to $16,500.
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Limit on annual additions.(p2)

For 2009 the limit on annual additions has increased from $46,000 to $49,000.
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Final regulations.(p2)

Final income tax regulations pertaining to tax-sheltered annuities within the meaning of section 403(b) of the Internal Revenue Code will, generally, be effective for tax years beginning after December 31, 2008. For more information, see T.D. 9340, which is on page 487 of Internal Revenue Bulletin 2007-36 at www.irs.gov/pub/irs-irbs/irb07–36.pdf.

Reminders(p2)


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Rollovers by nonspouse beneficiaries.(p2)

For distributions after December 31, 2006, a nonspouse beneficiary may make a direct rollover of a distribution from an eligible retirement plan of a deceased participant if the rollover is a direct transfer to an inherited IRA established to receive the distribution. The transfer will be treated as an eligible rollover distribution and the receiving individual retirement plan will be treated as an inherited individual retirement account or annuity.
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Rollover of after-tax contributions.(p2)

For tax years beginning after December 31, 2006, participants in a 403(b) plan can roll over after-tax contributions to an eligible retirement plan, and roll over after-tax contributions from an eligible retirement plan into a 403(b) plan, if the rollover is made through a direct trustee-to-trustee transfer.
taxmap/pubs/p571-000.htm#en_us_publink1000129346

Retired public safety officers.(p2)

For tax years beginning after December 31, 2006, if you are an eligible retired public safety officer, distributions of up to $3,000, made directly from your 403(b) plan to pay accident, health, or long-term care insurance are not included in your taxable income. The premiums can be for you, your spouse, or your dependents.
A public safety officer is a law enforcement officer, fire fighter, chaplain, or member of a rescue squad or ambulance crew.
For additional information, see Publication 575, Pension and Annuity Income.
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90-24 Transfer.(p2)

After September 24, 2007, you may no longer make a 90-24 transfer without your employer's involvement.
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Photographs of missing children.(p2)

The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child.

taxmap/pubs/p571-000.htm#TXMP734915beIntroduction

This publication can help you better understand the tax rules that apply to your 403(b) (tax-sheltered annuity) plan.
In this publication, you will find information to help you:
This publication does not provide specific information on the following topics.
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How to use this publication.(p2)


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This publication is organized into chapters to help you find information easily.
Chapter 1 answers questions frequently asked by 403(b) plan participants.
Chapters 2 through 6 explain the rules and terms you need to know to figure the maximum amount that could have been contributed to your 403(b) account for 2008 and the maximum amount that can be contributed to your 403(b) account in 2009.
Chapter 7 provides general information on the prevention and correction of excess contributions to your 403(b) account.
Chapter 8 provides general information on distributions, and transfers and rollovers.
Chapter 9 provides blank worksheets that you will need to accurately and actively participate in your 403(b) plan. Filled-in samples of most of these worksheets can be found throughout this publication.
Chapter 10 explains the rules for claiming the retirement savings contributions credit.
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Comments and suggestions.(p2)


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We welcome your comments about this publication and your suggestions for future editions.
You can write to us at the following address:

Internal Revenue Service 
TE/GE and Specialty Forms and  
Publications Branch 
SE:W:CAR:MP:T:T:SP 
1111 Constitution Ave. NW, IR-6526 
Washington, DC 20224


We respond to many letters by telephone. Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence.
You can email us at *taxforms@irs.gov. (The asterisk must be included in the address.) Please put "Publications Comment" on the subject line. Although we cannot respond individually to each email, we do appreciate your feedback and will consider your comments as we revise our tax products.
taxmap/pubs/p571-000.htm#en_us_publink1000129351

Ordering forms and publications.(p2)
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Visit www.irs.gov/formspubs to download forms and publications, call 1-800-829-3676, or write to the address below and receive a response within 10 days after your request is received.

 
Internal Revenue Service 
1201 N. Mitsubishi Motorway 
Bloomington, IL 61705-6613


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Tax questions.(p2)
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If you have a tax question, check the information available on www.irs.gov or call 1-800-829-1040. We cannot answer tax questions sent to either of the above addresses.

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Useful items

You may want to see:


Publication
 517 Social Security and Other Information for Members of the Clergy and Religious Workers
 575 Pension and Annuity Income
 590 Individual Retirement Arrangements (IRAs)
Form (and Instructions)
 W-2: Wage and Tax Statement
 1099-R: Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.
 5329: Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts
 5330: Return of Excise Taxes Related to Employee Benefit Plans
 8915: Qualified Hurricane Retirement Plan Distributions and Repayments
previous pagePrevious Page: Publication 570 - Tax Guide for Individuals With Income from U.S. Possessions - Illustrated Example of Form 8689
next pageNext Page: Publication 571 - Tax-Sheltered Annuity Plans (403(b) Plans) - 403(b) Plan Basics
 Use previous pagenext page to find additional occurrences of topic items.Index for this Publication