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IRS Newswire January 10, 2025

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Issue Number:    IR-2025-07

Inside This Issue
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*Treasury, IRS issue proposed regulations on new Roth catch-up rule, other SECURE 2.0 Act provisions*  

WASHINGTON — The Department of the Treasury and the Internal Revenue Service issued proposed regulations [ [link removed] ] today addressing several SECURE 2.0 Act provisions relating to catch-up contributions, which are additional contributions under a 401(k) or similar workplace retirement plan that generally are allowed with respect to employees who are age 50 or older. 

This includes proposed rules related to a provision requiring that catch-up contributions made by certain higher-income participants be designated as after-tax Roth contributions. 

The proposed regulations provide guidance for plan administrators to implement and comply with the new Roth catch-up rule and reflect comments received in response to Notice 2023-62 [ [link removed] ], issued in August 2023.  

The proposed regulations also provide guidance relating to the increased catch-up contribution limit under the SECURE 2.0 Act for certain retirement plan participants. Affected participants include employees between the ages of 60-63 and employees in newly established SIMPLE plans. 

Treasury and IRS welcome comments on these proposed regulations. Comments may be submitted through the Federal Register. See the proposed regulations for details.

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