[15724]
March 4, 2003
TO: PENSION MEMBERS No. 11-03
PENSION OPERATIONS ADVISORY COMMITTEE No. 12-03
RE: IRS ISSUES CORRECTIONS TO FINAL PLAN LOAN REGULATIONS
The Internal Revenue Service has published corrections to its final regulations under
Code section 72(p) regarding loans from qualified employer plans.1 The corrections, which are
intended to address errors contained in the final regulations, are as follows:
1. On page 71825,2 column 1, 1.72(p)-1, A-19, paragraph (a), last 2 lines in the
paragraph, the language “of the Internal Revenue Code. See Q&A 16 of this section”, is
corrected to read “of the Internal Revenue Code. See Q&A-11 through Q&A-16 of this section”.
2. On page 71825, column 3, 1.72(p)-1, A-20, paragraph (a)(2), lines 4 and 5, the
language “section (including paragraph (a)(3) of this Q&A 20 and the amount limitations”, is
corrected to read “section (including the amount limitations”.
3. On page 71825, column 3, 1.72(p)-1, A-20, paragraph (a)(2), the last line of the
paragraph, the language “replaced loan.”, is corrected to read “replacement loan.”.
These corrections are effective December 3, 2002.
Thomas T. Kim
Associate Counsel
Attachment (in .pdf format)
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1 See Institute Memorandum to Pension Members No. 58-02 and Pension Operations Advisory Committee No. 80-02,
dated December 3, 2002.
2 Page references are to the final regulations as published in the Federal Register. See 67 Fed. Reg. 71821-71826 (Dec.
3, 2002).