n-24-65.pdf

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Request for Comments Regarding Implementation of Saver’s Match
Contributions

Notice 2024-65
I. PURPOSE
This document requests comments on issues related to sections 103 and 104 of
Division T of the Consolidated Appropriations Act, 2023, Public Law 117-328, 136 Stat.
4459 (2022), known as the SECURE 2.0 Act of 2022 (SECURE 2.0 Act). Section 103 of
the SECURE 2.0 Act, in part, added section 6433 to the Internal Revenue Code (Code),
which provides for matching contributions (Saver’s Match contributions) paid by the
Secretary of the Treasury (Secretary) to applicable retirement savings vehicles on
behalf of eligible individuals who make qualified retirement savings contributions.
Section 104 of the SECURE 2.0 Act requires the Department of the Treasury (Treasury
Department) to take steps to increase public awareness of the availability of Saver’s
Match contributions and to provide a report to Congress on anticipated promotion efforts
by the Treasury Department. The Treasury Department and the Internal Revenue
Service (IRS) are soliciting comments to gather input from the public regarding all
aspects of sections 103 (including section 6433 of the Code) and 104 of the SECURE
2.0 Act.
II. BACKGROUND

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Under section 6433 of the Code, for taxable years beginning after December 31,
2026, an eligible individual is allowed a Saver’s Match contribution equal to an
applicable percentage of up to $2,000 of qualified retirement savings contributions to a
retirement account. A Saver’s Match contribution is generally allowable as a tax credit
that is payable by the Secretary as a contribution of up to $1,000 to an eligible
individual's applicable retirement savings vehicle designated by the eligible individual.
Section 6433(a)(2)(A) provides that a Saver’s Match contribution must be made as soon
as practicable after an eligible individual files a tax return making a claim for a Saver’s
Match contribution. Section 6433(a)(2)(B) provides that an individual who is eligible for a
Saver’s Match contribution of greater than zero but less than $100 for the taxable year
may elect for the amount claimed to be treated as a refundable income tax credit (rather
than contributed to the individual's applicable retirement savings vehicle).
Section 6433(b) provides that the maximum percentage of qualified retirement
savings contributions eligible for Saver’s Match contributions is 50 percent and is
reduced over a phaseout range based on an eligible individual’s modified adjusted
gross income. While the $2,000 maximum amount of qualified retirement savings
contributions under section 6433(a)(1) is not indexed for inflation, the modified adjusted
gross income levels in the phaseout range are indexed for inflation. In determining the
phaseout range, the modified adjusted gross income is determined based on the eligible
individual’s taxpayer filing status. For example, for most married filers, the phaseout
range begins at $41,000 and ends at $71,000, and for most unmarried filers, the
phaseout range begins at $20,500 and ends at $35,500.

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Section 6433(c) provides that an eligible individual is an individual who has
attained the age of 18 as of the close of the taxable year, other than an individual who is
(1) a full-time student as defined in section 152(f)(2), (2) claimed as a dependent on
another taxpayer's return for a taxable year beginning in the calendar year in which the
individual's taxable year begins, or (3) a nonresident alien who meets certain conditions.
Section 6433(d)(1) provides that an eligible individual’s qualified retirement
savings contributions for a year are the sum of any of the following: (1) contributions to
traditional and Roth individual retirement accounts and annuities (IRAs); (2) elective
deferrals to a section 401(k) plan, a section 403(b) plan, a governmental section 457(b)
plan, a SIMPLE IRA, or a Simplified Employee Pension (SEP) plan; (3) voluntary after-
tax employee contributions to a qualified retirement plan or annuity or a section 403(b)
plan; and (4) contributions to a section 501(c)(18) plan. Section 6433(d)(2)(A) provides
that qualified retirement savings contributions for a taxable year are reduced (but not
below zero) by the aggregate distributions received by the individual during a testing
period from any IRA, plan, or annuity of a type to which qualified retirement savings
contributions may be made. Section 6433(d)(2)(B) provides that the testing period is the
period that includes (1) the taxable year during which qualified retirement savings
contributions are made, (2) the two preceding taxable years, and (3) the period after the
taxable year during which qualified retirement savings contributions are made and
before the due date (including extensions) for filing the tax return for that taxable year.
Section 6433(d)(2)(C) provides that certain distributions made during the testing period
are not taken into account for purposes of the reduction, including any portion of a
distribution that is rolled over to another retirement plan or IRA. Section 6433(d)(2)(D)

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provides that, for purposes of the reduction, any distribution received by the spouse of
an eligible individual is treated as received by that eligible individual if the eligible
individual and spouse file a joint return for the taxable year for which the Saver’s Match
contribution is claimed and for the taxable year during which the spouse receives the
distribution.
Under section 6433(e)(2), an applicable retirement savings vehicle is an account
or plan that (1) is a traditional (non-Roth) IRA or the non-Roth portion of a section 401(k)
plan, a section 403(b) plan, or a governmental section 457(b) plan, (2) is for the benefit
of an eligible individual, (3) accepts Saver’s Match contributions, and (4) is designated
by the eligible individual in such form and manner as the Secretary may provide.
Section 6433(f)(2)(A) provides that a Saver's Match contribution is treated as an
elective deferral made by an eligible individual or as an IRA contribution (as applicable),
except as provided by the Secretary under regulations. Section 6433(f)(2)(B) provides
that the Saver’s Match contribution is generally not taken into account with respect to
retirement plan and IRA limitations. In addition, under section 6433(f)(2)(C), the Saver’s
Match contribution is not treated as an amount that may be paid, made available, or
distributable to the eligible individual under section 401(k)(2)(B)(i)(IV) or
403(b)(7)(A)(i)(V) (hardships), or section 457(d)(1)(A)(iii) (unforeseeable emergencies).
Section 6433(f)(3) provides that any applicable retirement savings vehicle to
which a Saver’s Match contribution is made is not treated as violating any requirements
under section 401, 403, 408, or 457, as applicable, solely by reason of accepting that
contribution.

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Section 6433(f)(4)(A) provides that any Saver's Match contribution that was
erroneously paid, including a payment that is not made to an applicable retirement
savings vehicle, is treated as an underpayment of tax for the taxable year in which the
Secretary determines that the payment was erroneous. Section 6433(f)(4)(B)(i) provides
that, in the case of an erroneously paid Saver's Match contribution, the distribution of
that contribution is excluded from income, and the 10 percent additional tax on early
distributions does not apply to the distribution of that contribution or income attributable
to such contribution, if the distribution of such amounts is received no later than the due
date (including extensions) for filing the individual's tax return for such taxable year.
Section 6433(f)(4)(B)(ii) provides that any plan or arrangement that makes a distribution
of Saver’s Match contributions that were erroneously paid is not treated as violating
section 401, 403, or 457 solely by reason of making the distribution.
Section 6433(f)(5) provides that the Saver’s Match contribution is not subject to
certain reductions or offsets under section 6402 and is not reduced or offset by other
assessed Federal taxes that would otherwise be subject to levy or collection.
Section 6433(f)(6) provides that in the case of an applicable retirement savings
vehicle to which contributions have been made under section 6433(a)(2) and from
which a specified early distribution under section 6433(f)(6)(B) has been made during
the taxable year, if the aggregate amount of those contributions exceeds the account
balance of that savings vehicle at the end of the taxable year, an additional tax applies
(Saver’s Match Recovery tax). Section 6433(f)(6)(A) and (D) provide that this Saver’s
Match Recovery tax is equal to the amount of the excess described in the prior

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sentence, reduced by (1) the amount of the 10 percent additional tax on early
distributions imposed by section 72(t)(1) that applies to such distribution and (2)
allocable investment losses (pursuant to such rules prescribed by the Secretary as may
be appropriate). Section 6433(f)(6)(B) provides that a specified early distribution is any
portion of a distribution that is (1) made from the applicable retirement savings vehicle
to which Saver’s Match contributions have been made, (2) includible in gross income,
and (3) subject to the 10 percent additional tax on early distributions imposed by section
72(t)(1).
Section 6433(f)(6)(C) provides that an eligible individual may also reduce the
Saver’s Match Recovery tax (but not below zero) for a taxable year during which a
specified early distribution has been made by making additional contributions not in
excess of the amount of the specified early distribution to an applicable retirement
savings vehicle to which rollover contributions may be made. The Saver’s Match
Recovery tax is reduced to the extent of the additional contributions. The additional
contributions must be made by the due date (including extensions) of the eligible
individual’s tax return for the taxable year in which the Saver’s Match Recovery tax
would otherwise be owed. In addition, an eligible individual’s additional contributions to
an applicable retirement savings vehicle that is not an IRA may only be made to the
vehicle if the individual is otherwise eligible to make contributions to the vehicle. Under
section 6433(f)(6)(C)(iv) and (v), these additional contributions are treated as having
been transferred in a direct trustee-to-trustee transfer within 60 days of the specified
early distribution.

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Section 103(c) (2) of the SECURE 2.0 Act provides for the amendment of forms to
require separate reporting of the aggregate amount of Saver's Match contributions
received by an applicable retirement savings vehicle. Section 103(c)(2)(A) provides for
the amendment of forms required under section 6058 of the Code for reporting the
aggregate amount of Saver’s Match contributions received by a retirement plan during a
plan year. Section 103(c)(2)(B) of the SECURE 2.0 Act provides for similar reporting
with respect to IRAs.
Section 104 of the SECURE 2.0 Act requires the Treasury Department to take
steps to increase public awareness of Saver’s Match contributions, and to provide a
report to Congress no later than July 1, 2026, summarizing the anticipated promotional
efforts. The report must include a description of plans for: (1) the development and
distribution of digital and print materials, including the distribution of such materials to
states for participants in state facilitated retirement savings programs; (2) the translation
of such materials into the 10 most commonly spoken languages in the United States
after English (as determined by reference to the most recent American Community
Survey of the Bureau of the Census); and (3) communicating the adverse
consequences of early withdrawal from an applicable retirement savings vehicle to
which a matching contribution has been paid under section 6433(a)(2) of the Code,
including the operation of the Saver’s Match Recovery tax under section 6433(f)(6) and
associated early withdrawal taxes. The report must also include such other information
as the Secretary determines is necessary.
III . REQUEST FOR COMMENTS

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Saver’s Match contributions represent a new approach to promoting retirement
savings and an important opportunity to improve the long-term financial security for
millions of low- to moderate-income Americans. Thoughtful and strategic preparation by
the Treasury Department and the IRS, as well as other stakeholders, will be necessary
for the program to reach its full potential in improving the retirement readiness of low- to
moderate-income Americans. The Treasury Department and the IRS seek to implement
Saver’s Match contributions in a manner that will minimize costs and administrative
burdens for all stakeholders, streamline the process for eligible individuals to claim
Saver’s Match contributions, and encourage retirement plans and IRAs to accept
Saver’s Match contributions so that Saver’s Match contributions are consolidated with
other retirement assets. Comments are requested from the perspective of all interested
stakeholders, including eligible individuals, volunteer and for-profit tax preparers,
organizations that serve and advise eligible individuals, IRA custodians and trustees,
and retirement plan administrators, recordkeepers, and sponsors, to gain a better
understanding of the issues related to the implementation of, and compliance with, this
provision. Specifically, the Treasury Department and the IRS request comments that
address the following questions:
A. Eligibility for Saver’s Match Contributions
Question 1: What practical considerations should the Treasury Department and
the IRS take into account in guidance regarding an individual’s eligibility for Saver’s
Match contributions? In particular, what guidance would be helpful to explain the
exclusion from eligibility for certain nonresident aliens under section 6433(c)(3) (an
exclusion that does not apply under the Saver’s Credit under section 25B), application

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of the modified adjusted gross income limit under section 6433(b), and the
determination of qualified retirement savings contributions under section 6433(d) (taking
into account the effect of certain distributions under section 6433(d)(2))?
Question 2: In order to be eligible for a Saver’s Match contribution, an eligible
individual must make qualified retirement savings contributions. What are the relevant
barriers individuals face in making qualified retirement savings contributions, including
any unique barriers faced by specific underserved communities? For example, do
individuals face barriers in learning about or becoming aware of available retirement
savings opportunities and are there platforms and forums that could be used to inform
individuals of opportunities and encourage retirement savings? How can the Treasury
Department and the IRS help individuals overcome these barriers and encourage
individuals to make qualified retirement savings contributions and claim Saver’s Match
contributions?
B. How Saver’s Match Contributions Are Claimed
Question 3: What considerations should the Treasury Department and the IRS
take into account regarding the method (such as an IRS form or other means) by which
an eligible individual must claim Saver’s Match contributions (including ways in which
the method used should differ from the existing Form 8880, Credit for Qualified
Retirement Savings Contributions, used to claim the Saver’s Credit under section 25B)?

If a form for claiming Saver’s Match contributions is based on the Form 8880, how
should that form be modified?
Question 4: Taking into account that eligibility for the Saver’s Match contribution
is based, in part, on an eligible individual’s modified adjusted gross income and filing

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status, should eligible individuals be required to file a Form 1040, U.S. Individual
Income Tax Return, in order to claim a Saver’s Match contribution, or should a
standalone form that requires relevant information be provided that does not require an
accompanying Form 1040 be used (for individuals who are not required to file a Form
1040 due to income level)?
Question 5: What methods should the Treasury Department and the IRS
consider in order to simplify, from the perspective of eligible individuals, the procedure
for an eligible individual to claim Saver’s Match contributions and designate an
applicable retirement savings vehicle?
Question 6: For an eligible individual whose Saver’s Match contribution amount
for a year would be less than $100, what considerations should the Treasury
Department and the IRS take into account regarding the eligible individual’s option to
have that amount be treated as a refundable income tax credit? For example, what
should the default election be if an eligible individual claims a Saver’s Match
contribution amount for a year that is less than $100, but fails to affirmatively elect an
applicable retirement savings vehicle to receive the Saver’s Match contribution?
C. How to Designate the Destination for Saver’s Match Contributions
Question 7: How should eligible individuals designate an IRA as an applicable
retirement savings vehicle to receive Saver’s Match contributions? What would be the
best method for IRA trustees and custodians to communicate to eligible individuals
(including through existing procedures such as using a password-protected website) the
information (including account and routing information) needed to claim Saver’s Match
contributions? For example, should the IRS use the same method for designating an

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IRA to which tax refunds are paid via direct deposit (using a form similar to Form 8888,
Allocation of Refund (Including Savings Bond Purchases)), which requires identification
of account and routing numbers? Alternatively, should a method be provided for IRA
trustees and custodians (or other service providers) to provide to the IRS information
identifying account and routing numbers without requiring the eligible individual to
provide that information, and if so, what method should the Treasury Department and
the IRS consider?
Question 8: How should eligible individuals designate a retirement plan as an
applicable retirement savings vehicle to receive Saver’s Match contributions? What
would be the best method for retirement plans to communicate to eligible individuals the
information (including account and routing information) needed to claim Saver’s Match
contributions? For example, should a method be provided for plan service providers to
provide to the IRS information identifying a trustee’s (or other service provider’s)
account and routing numbers without requiring the eligible individual to provide that
information?
Question 9: Should the IRS provide to the trustee or other service provider
allocation directions in an addenda record associated with an Automated Clearing
House (ACH) transaction? Are there other approaches to providing allocation directions
that the IRS should consider, such as a participating service provider registration
process in which service providers access allocation instructions in another format?
What information would the IRS need to provide as part of an addenda record or other
similar approach to facilitate Saver’s Match contributions? Would the information
required differ between retirement plans and IRAs?

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Question 10: What steps could be taken to ensure that a Saver’s Match
contribution is correctly made to an eligible individual’s applicable retirement savings
vehicle? What steps could be taken to prevent the disbursement of Saver’s Match
contributions to an ineligible account, such as a Roth IRA (which, under section
6433(e)(2)(A)(ii), may not receive Saver’s Match contributions and is, thus, not an
applicable retirement savings vehicle), particularly if the eligible individual provides
account and routing information to designate the retirement account?
Question 11: If a payment is erroneously made to an account that is not an
applicable retirement savings vehicle, section 6433(f)(4) requires the amount to be
treated as an underpayment of tax for the taxable year in which the Secretary
determines the payment was erroneous. What considerations should the Treasury
Department and the IRS take into account regarding the treatment of erroneous Saver’s
Match contributions, including if an applicable retirement savings vehicle returns a
Saver’s Match contribution to the Treasury Department?
D. How the Treasury Department Completes Saver’s Match Contributions
Question 12: How can the Treasury Department and the IRS assist eligible
individuals who make qualified retirement savings contributions to a Roth IRA and who
do not otherwise participate in an IRA or retirement plan that accepts Saver’s Match
contributions? For example, certain states require employers to provide automatic Roth
IRA contributions for individuals who do not otherwise participate in an employer-
sponsored retirement plan and do not elect out of the automatic contributions. Would
there be significant cost savings in facilitating a streamlined approach for opening up a

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traditional IRA in state automatic Roth IRA programs and, if so, what IRS guidance
would be helpful for these programs to realize these cost savings?
Question 13: In connection with Form 8888 (which permits a taxpayer to
designate an IRA as a recipient of tax refunds) , a Treasury Department website includes
Frequently Asked Questions (https://www.fiscal.treasury.gov/eft/faq-tax-refund.html)
relating to the process for paying tax refunds via direct deposit, including to IRAs. For
example, the Frequently Asked Questions relating to the process for paying tax refunds
to IRAs include information on procedures that apply if a refund is transmitted into an
incorrect account, fraud is suspected, or the refund is returned. Should similar
information be provided with respect to the payment of Saver’s Match contributions to a
designated IRA or retirement plan or is different or additional information needed?
Question 14: What practical or administrative considerations should be taken into
account with regard to the process for contributing Saver’s Match contributions to a
designated IRA or retirement plan? For example, each tax refund paid electronically is
currently sent via a separate ACH transaction, even if there are millions of separate
ACH transactions sent to the same financial institution. Would any issues arise if each
Saver’s Match contribution was also sent via a separate ACH transaction? In the
alternative, should a procedure be developed by which Saver’s Match contributions for
multiple eligible individuals are batched together with respect to payments made to a
particular retirement savings vehicle or with respect to payments made to a particular
trustee, custodian, or recordkeeper?
Question 15: What considerations should the Treasury Department and the IRS
take into account if the Saver’s Match contribution cannot be completed (for example, if

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an eligible individual makes a claim for a Saver’s Match contribution, but does not
properly designate an applicable retirement savings vehicle to receive the Saver’s
Match contribution, makes a mistake in entering information relating to the designated
vehicle, or ceases to participate in the designated vehicle prior to the payment of the
Saver’s Match contribution)? For example, should a default destination be developed
(perhaps modeled after rules for automatic portability transactions with respect to
automatic cash-outs of small retirement plan benefits, as described in the preamble of
the Department of Labor proposed Automatic Portability Transaction Regulations, 89 FR
5624, 5625, Jan. 29, 2024)?
Question 16: Should the Treasury Department and the IRS consider developing a
process by which the IRS sends information in advance to an applicable retirement
savings vehicle about anticipated Saver’s Match contributions, similar to the process by
which payroll providers preview contributions to retirement plans so that the plans can
identify any issues before remittance? If so, how should this process work, and can this
process be implemented to minimize burdens on stakeholders and address privacy
risks?
E. Saver’s Match Recovery Ta x on Specified Early Distributions
Question 17: If an individual receives a specified early distribution before
reaching age 59½ (and no exception to the additional tax under section 72(t) applies),
that distribution may be subject to a Saver’s Match Recovery tax under section
6433(f)(6) in addition to income tax. The Saver’s Match Recovery tax is reduced by the
10% additional tax liability under section 72(t) applicable to the specified early
distribution. How can the IRS facilitate calculating and reporting of the Saver’s Match

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Recovery tax? For example, Form 5329, Additional Taxes on Qualified Plans (Including
IRAs) and Other Tax-Favored Accounts, is used by taxpayers to claim exceptions to the
section 72(t) additional tax and to pay additional taxes on retirement plans, IRAs, and
other tax-favored accounts. Should a similar method be used with respect to reporting
the Saver’s Match Recovery tax?
Question 18: For purposes of calculating the Saver’s Match Recovery tax, what
guidance would be helpful regarding the treatment of rollovers and transfers from an
applicable retirement savings vehicle that has received Saver’s Match contributions (for
example, with respect to the possible application of the Saver’s Match Recovery tax to
subsequent distributions)?
Question 19: Section 6433(f)(6)(D) provides that the Secretary may provide rules
for reducing the amount of the Saver’s Match Recovery tax by the allocable investment
losses in an applicable retirement savings vehicle. What guidance would be helpful with
respect to the determination of investment losses in a particular applicable retirement
savings vehicle? For example, as an alternative to allocating investment losses in the
applicable retirement savings vehicle, would it be burdensome for retirement plans and
IRAs to have a method of accounting for separate sources (such as maintaining a
subaccount) for Saver’s Match contributions?
Question 20: Section 6433(f)(6)(C) provides rules for a reduction in the Saver’s
Match Recovery tax on account of a recontribution by an eligible individual of a
specified early distribution. What guidance would be helpful with respect to these
recontributions? For example, does the method of reporting recontributions of qualified
disaster distributions on Form 8915-F, Qualified Disaster Retirement Plan Distributions

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and Repayments, provide a model that could be used for recontributions of specified
early distributions?
F. Reporting and Disclosure
Question 21: Section 103(c)(2) of the SECURE 2.0 Act directs the Secretary to
amend forms relating to reports required under section 6058 of the Code for retirement
plans (for example, Form 5500 series)
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to require reporting of aggregate amounts of
Saver’s Match contributions received by an applicable retirement savings vehicle during
a year and to require similar reporting relating to IRAs (for example, Form 5498, IRA
Contribution Information). How can these forms be amended in a manner that reduces
administrative burdens for retirement plans and IRA trustees and custodians?
Question 22: What information should be required to be available to assist
eligible individuals in determining whether a particular IRA or retirement plan will accept
Saver’s Match contributions, and where should that information be located? Should plan
administrators and IRA trustees and custodians be required to provide an annual written
notification to retirement plan participants and IRA owners describing the availability of
Saver’s Match contributions with respect to qualified retirement savings contributions to
the retirement plan or IRA (and, if Saver’s Match contributions are not accepted, that the
eligible individual can claim Saver’s Match contributions by identifying another
applicable retirement savings vehicle)? For example, under § 1.401(k)-3(d)(2)(ii)(B), a
safe harbor notice must describe any contributions under a safe harbor plan for
matching contributions to another retirement plan on account of elective contributions or

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Form 5500 series returns include Form 5500, Annual Return/Report of Employee Benefit Plan, Form
5500-S F, Short Form Annual Return/Report of Small Employee Benefit Plan, and Form 5500-EZ, Annual
Return of A One Participant (Owners/Partners and Their Spouses) Retirement Plan or A Foreign Plan.

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employee contributions under the retirement plan. If an annual written notification is
required, what information should be included to encourage eligible individuals to claim
Saver’s Match contributions?
G. Miscellaneous Issues
Question 23: Other than issues under the Code, are there any issues under
applicable Federal, state, or local law that are a cause for concern regarding the
operation of the rules for Saver’s Match contributions?
Question 24: Are there any methods or procedures not previously discussed that
would minimize costs and administrative burdens across stakeholders implementing
Saver’s Match contributions, encourage retirement plans and IRA custodians to accept
Saver’s Match contributions, and streamline the process for eligible individuals to claim
Saver’s Match contributions?
Question 25: Retirement plans and IRAs that accept Saver’s Match contributions
will need to be amended to provide for those contributions. What considerations should
the Treasury Department and the IRS take into account regarding the content and
timing of these amendments, including with respect to pre-approved retirement plans
and IRAs? What guidance would be helpful with respect to these amendments?
Question 26: The Treasury Department and the IRS anticipate issuing written
guidance, publications, and updated forms and instructions. What additional efforts
would be helpful to promote and increase public awareness for Saver’s Match
contributions (including with respect to different demographic groups, such as
individuals for whom English is not their primary language)? Are there any online tools
(for example, calculators or social media-based tools) that the Treasury Department and

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the IRS should utilize or develop to encourage contributions to applicable retirement
savings vehicles, promote the claiming of Saver’s Match contributions, and facilitate the
administration of Saver’s Match contributions?
Question 27: Are there ways that the Treasury Department and the IRS can use
innovative technology, such as blockchain technology, to facilitate Saver’s Match
contributions?
Question 28: What guidance, if any, would be helpful relating to the transition
from the Saver’s Credit under section 25B to Saver’s Match contributions under section
6433?
Question 29: Although Saver’s Match contributions generally are treated as
elective deferrals, including for purposes of applying distribution limitations, section
6433(f)(2)(C) provides that Saver’s Match contributions are not treated as amounts that
may be paid, made available, or distributable to an eligible individual in the case of a
hardship distribution under section 401(k)(2)(B)(i)(IV) or 403(b)(7)(A)(i)(V), or an
unforeseeable emergency distribution under section 457(d)(1)(A)(iii). What guidance, if
any, would be helpful regarding implementation of this provision by plan administrators,
for example, regarding separate accounting of Saver’s Match contributions?
IV. SUBMISSION OF COMMENTS
Written comments should be submitted on or before November 4, 2024.
Consideration will be given, however, to any written comment submitted after November
4, 2024, if such consideration will not delay the issuance of guidance. The subject line

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for the comments should include a reference to Notice 2024-65. Comments may be
submitted in one of two ways:
(1) Electronically via the Federal eRulemaking Portal at www.regulations.gov
(type IRS-2024-0034 in the search field on the regulations.gov homepage to find this
notice and submit comments).
(2) Alternatively, by mail to: Internal Revenue Service, CC:PA:01:PR (Notice
2024-65), Room 5203, P.O. Box 7604, Ben Franklin Station, Washington, DC 20044.
All commenters are strongly encouraged to submit comments electronically. The
Treasury Department and the IRS will publish for public availability any comment
submitted electronically, or on paper, to its public docket on regulations.gov.
V. DRAFTING INFORMATION
The principal author of this notice is Tom Morgan of the Office of Associate Chief
Counsel (Employee Benefits, Exempt Organizations, and Employment Taxes). However,
other personnel from the Treasury Department and the IRS participated in its
development. For further information regarding this notice, please contact Mr. Morgan at
(202) 317-6700 (not a toll-free number).