NU Online News Service, June 25, 2004, 6:35 p.m. EDT
The Internal Revenue Service has issued drafts of model agreements for companies that want to manage health savings accounts.[@@]
The IRS has developed the model agreements to help insurers, banks and other companies that want to provide HSA trust and custodial services.
The IRS hopes to finalize the draft agreements at the end of a 30-day public comment period.
The IRS notes that use of the model agreements is voluntary. Trustees and custodians can come up with their own agreements.
Members of the public can comment on the drafts by calling the IRS at 202-622-4HSA.
The custodial account draft is on the Web at //www.irs.gov/pub/irs-dft/d5305c.pdf and the trust account draft is on the Web at //www.irs.gov/pub/irs-dft/d5305b.pdf
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