Qualified Roth contribution program
For purposes of this section—
(1) In general
(1)In general#
The term “qualified Roth contribution program” means a program under which an employee may elect to make, or to have made on the employee’s behalf, designated Roth contributions in lieu of all or a portion of elective deferrals the employee is otherwise eligible to make, or of matching contributions or nonelective contributions which may otherwise be made on the employee’s behalf, under the applicable retirement plan.
(2)Separate accounting required#
A program shall not be treated as a qualified Roth contribution program unless the applicable retirement plan—
(A) establishes separate accounts (“designated Roth accounts”) for the designated Roth contributions of each employee and any earnings properly allocable to the contributions, and
(B) maintains separate recordkeeping with respect to each account.
(2)(A)#
establishes separate accounts (“designated Roth accounts”) for the designated Roth contributions of each employee and any earnings properly allocable to the contributions, and
(2)(B)#
maintains separate recordkeeping with respect to each account.