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ONLINE NOTARIZATION FOR SPOUSAL CONSENTS IS HERE TO STAY

The future of spousal consents for plan distributions is online — and just a few
clicks away.


The Internal Revenue Service (IRS) recently issued a new set of proposed
regulations that would permanently waive the pre-existing requirement that
spousal consents for plan distributions to be witnessed in-person by a notary or
plan representative. Here's everything you need to know about how we got here,
what it means for you and your business, and how you can partner with Notarize
for retirement planning like never before.

Already up to speed? Let's get started.

Notarize a spousal consent



THE PLATFORM WITH PROVEN IMPACT

Business transformation requires digital transformation at scale. Here’s how our
customers are disrupting and delivering by working with Notarize.
$97 – $103
in cost-savings on average per transaction completed online vs. in-person
21 days
saved on average by completing the notarization process online
< 6 minutes
spent on average to complete a transaction with Notarize


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HOW NOTARIZE MOVED THE NEEDLE

Save time, save money, and give your customers an experience that sets you
apart.
>2 years
behind-the-scenes advocacy in support of making the IRS relief permanent,
including meetings with the U.S. Department of the Treasury, the IRS, Members of
Congress and staffers, and additional private and public sector stakeholders.

10
comments submitted to the IRS in favor of making the relief permanent by
Notarize and other organizations including, the SPARK Institute, the U.S.
Chamber of Commerce, the American Benefits Council, and others.

1
specialized coalition formed by Notarize to encourage IRS action in favor of
making this relief permanent.

18
organizations/companies who joined Notarize in co-signing a coalition letter
urging the IRS to make this relief permanent.


MARCH 2020



Following an emergency order issued by the President in the wake of the COVID-19
pandemic, the IRS issued Notice 2020-42 to provide relief from the in-person
requirements for spousal consent waivers, allowing consumers to complete spousal
consent forms online with online notarization.


JUNE 2020



The IRS released Notice 2021-03 extending the temporary relief from the
requirement through June 30, 2021.


MAY 2021



The IRS released Notice 2021-40 extending the temporary relief through June 30,
2021.


MAY 2022



The IRS released Notice 2022-27 extending the temporary relief through June 30,
2022.


DECEMBER 2022



The IRS issues a notice of proposed rulemaking and notice of public hearing in
the Federal Register that would permit spousal consents for plan distributions
to be witnessed by a notary or plan representative remotely online.


STATE OF PLAY

(As of January 5, 2022)

TL;DR: The new proposed regulations and any comments that get submitted
pertaining to them will be discussed in a public hearing in April. Pending there
is no need for additional comment or reply periods, the final rule will be
reviewed by the President of the Office of Information & Regulatory Affairs
(OIRA) and made official once published in the Federal Register.

Now that the IRS has published the notice of proposed rulemaking in the Federal
Register, the official period during which the general public can submit written
or electronic comments for consideration is in effect until March 30th, 2023, or
90-days after the date of publication. Following the comment period, the
proposed new regulations will be taken up in public hearing in April of 2023,
after which the agency (in this case, the IRS) can decide in favor or against a
second period for comments and/or a reply period, neither of which is required
by law. Once it has been concluded that the proposed solutions will help
accomplish the goals or solve the problems identified through the process to
date, a final review by the President of the Office of Information & Regulatory
Affairs (OIRA) will be completed before the final rule is made official through
publication in the Federal Register.
CUSTOMER QUOTE


“

Businesses don’t just run 9-5 anymore — small business owners and consumers need
to get things done on their own time, in ways most convenient to them. Now with
FedEx Office Online Notary with Notarize, commissioned notaries are available
24/7, 365 days a year. That’s the pace of doing business today.”
Jeff Heyman
Vice President of Product Development and eCommerce for FedEx Office

GET A DEMO


RESOURCES

Official Notice of Proposed Rulemaking and Public Hearing as Published in the
Federal Register by the IRS on 12-30-22
Learn more
How Retirement Plan Providers Can Take Advantage of Online Notarization
‍
Learn more


READY TO BEGIN NOTARIZING SPOUSAL CONSENT DOCUMENTS ONLINE?


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We at Notarize pride ourselves on providing helpful resources to help demystify
notarization. We are not lawyers, and don’t give legal advice, so always check
with your own attorneys, advisors, or document recipients if you have unanswered
questions about notarization or digitally notarized documents.

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