Update on Employee Leasing Requirements

The IRS has released its updated Alert Guidelines on employee leasing requirements. Document Excerpt Worksheet Number 8 (Form 8386) and this explanation are designed to aid the specialist in deciding whether any qualification issue arising by reason of section 414(n) of the Code needs to be covered and, if so, whether the requirements of that […]

Limitations on Contributions and Benefits

The IRS has released its updated Alert Guidelines on the Section 415 limitations. Document Excerpt The purpose of Form 8384, Worksheet Number 6, is to assist in determining if a plan meets the major requirements of § 415. However, there may be § 415 issues not mentioned in the worksheet that could affect the plan’s […]

Nondiscrimination Requirements for Safe Harbor Defined Contribution Plans

The IRS releases updated Alert Guidelines for nondiscrimination purposes of safe harbor defined contribution plans. Document Excerpt The purpose of Form 5627, Worksheet Number 5, and this explanation is to determine whether a defined contribution plan satisfies the nondiscrimination safe harbor requirements of section 1.401(a)(4)-2(b) of the Regulations and associated requirements such as the nondiscriminatory […]

Safe Harbor Nondiscrimination Requirements for Defined Benefit Plans

The IRS releases updated Alert Guidelines for safe harbor defined benefit plans.   Document Excerpt The purpose of Form 9638, Worksheet Number 5A, and this explanation is to determine whether a defined benefit plan satisfies the nondiscrimination safe harbor requirements of section 1.401(a)(4)-3(b)(3) of the Regulations and associated requirements such as the nondiscriminatory compensation requirements […]

Top Heavy Requirements

IRS releases updated Alert Guidelines on Top Heavy requirements. Document Excerpt Worksheet Number 7 (Form 8385) and this explanation are designed to aid the specialist in determining whether a plan is top-heavy as defined in Internal Revenue Code section 416 and, if so, whether the plan meets the special top-heavy requirements of that section.   […]

Summary of Benefits and Coverage Fact Sheet

HHS releases it Summary of Benefits and Coverage Fact Sheet in conjunction with the release of final regulations. Document Excerpt  Today’s final regulations amend the final regulations published on February 14, 2012 (2012 final regulations). The amendments to the 2012 final regulations are finalized based on public comments received on the proposed rules published on […]

Summary of Benefits and Coverage

The final Summary of Benefits and Coverage and Uniform Glossary rules are released. Document Excerpt SUMMARY: This document contains final regulations regarding the summary of benefits and coverage (SBC) and the uniform glossary for group health plans and health insurance coverage in the group and individual markets under the Patient Protection and Affordable Care Act. […]

Joint and Survivor Requirements

The IRS issues updated Alert Guidelines for compliance with the joint and survivor requirements. Document Excerpt The purpose of Worksheet Number 3 (Form 5625) and this explanation is to identify major problems regarding joint and survivor annuity requirements under Internal Revenue Code sections 401(a)(11) and 417. However, there may be issues not mentioned in the […]

Minimum Vesting Standards

The IRS releases updated Alert Guidelines to be used in assessing compliance with the minimum vesting requirements applicable to defined contribution plans. Document Excerpt The purpose of the Worksheet Number 2 (Form 5623) and this explanation is to identify major problems in the area of plan vesting. However, there may be issues not mentioned in […]

Eligibility and Participation Standards

The IRS issues updated Alert Guidelines used by determination agents in assessing compliance with the eligibility and participation requirements. Document Excerpt The purpose of the Worksheet Number 1 (Form 5622) and this explanation is to identify any major problems an employee benefit plan might have in satisfying the minimum participation standards of Internal Revenue Code […]

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