DEFINITION of 'IRS Publication 571: Tax-Sheltered Annuity Plans (403(b) Plans) For Employees of Public Schools And Certain Tax-Exempt Organizations'

A document published by the Internal Revenue Service (IRS) that provides tax information for filers who have a 403(b) retirement plan. IRS Publication 571 indicates who can contribute to a 403(b) plan, the maximum contribution that can be made to a 403(b) plan during the year, rules regarding excess contributions, and the rules regarding rollovers or distributions.


Contributions for a 403(b) plan are generally reported in an employee's W-2 by the employer, and do not need to be reported by the individual employee to the IRS.

BREAKING DOWN 'IRS Publication 571: Tax-Sheltered Annuity Plans (403(b) Plans) For Employees of Public Schools And Certain Tax-Exempt Organizations'

While IRS Publication 571 does provide some information on rollovers and distributions of 403(b) accounts, it does not get into specific details. Specifics for rollovers can be found in IRS Publication 590, and information on distributions in Publication 575.

RELATED TERMS
  1. Direct Rollover

    A distribution of eligible rollover assets from a qualified plan, ...
  2. Designated Roth Account

    An individual retirement plan in which employees can have all ...
  3. 403(b) Plan

    A retirement plan for certain employees of public schools, tax-exempt ...
  4. Eligible Rollover Distribution

    A distribution from an IRA, qualified plan, 403(b) plan or 457 ...
  5. IRS Publication 560: Retirement ...

    A document published by the Internal Revenue Service (IRS) that ...
  6. Rollover IRA

    A special type of traditional individual retirement account into ...
Related Articles
  1. Retirement

    Top 9 Benefits Of A 403(b) Plan

    A 403(b) plan is a tax-sheltered retirement plan for employees of many non-profit entities, including public safety and educational organizations.
  2. Retirement

    Top 9 Benefits Of A 403(b) Plan

    Find out how the 403(b) plan helps employees of nonprofit entities meet their retirement goals.
  3. Retirement

    Explaining the 403(b) Plan

    A retirement plan for certain employees of public schools, tax-exempt organizations and certain ministers.
  4. Retirement

    Got a 403(b) Plan? Here's What You Need to Know

    Many folks do not understand the ins and outs of their 403(b) plan. Let's change that.
  5. Financial Advisor

    457 Plans and 403(b) Plans: A Comparison

    There's plenty of advice about 401(k) plans, but what about 457 and 403(b) plans?
  6. Retirement

    How a 403(b) Works After Retirement

    Everything you need to know (don't be afraid to ask) about handling your 403(b) plan when you retire.
  7. Financial Advisor

    The 4-1-1 on 403(b) Plans

    These plans resemble 401(k) plans in many respects, but are specially designed for nonprofit entities.
  8. Retirement

    What's a Defined Contribution Plan?

    A defined contribution plan is a company retirement plan that specifies the amount of money contributed to it.
  9. Retirement

    The Best Retirement Plans for Millennials

    Retirement is decades away, but if you make yourself start saving even a little now, all that time can make your money grow big time. Two smart options.
  10. Retirement

    Roth 401(k), 403(b): Which Is Right for You?

    Learn how to decide between a traditional or Roth version of the 401(k), 403(b) or 457(b) retirement plans to help you build your nest egg.
Hot Definitions
  1. Universal Health Care Coverage

    An organized healthcare system that provides healthcare benefits to all persons in a specified region. Many countries, such ...
  2. Davos World Economic Forum

    The annual meeting of the World Economic Forum hosted at Davos—a small ski town in Switzerland—in January each year is among ...
  3. Smart Home

    A convenient home setup where appliances and devices can be automatically controlled remotely from anywhere in the world ...
  4. Efficient Frontier

    A set of optimal portfolios that offers the highest expected return for a defined level of risk or the lowest risk for a ...
  5. Basis Point (BPS)

    A unit that is equal to 1/100th of 1%, and is used to denote the change in a financial instrument. The basis point is commonly ...
  6. Initial Public Offering - IPO

    The first sale of stock by a private company to the public. IPOs are often issued by smaller, younger companies seeking the ...
Trading Center