PBGC Request OMB Approve Information Collection to Locate Missing Participants

The PBGC is requesting that the Office of Management and Budget approve changes to an information collection needed to locate missing participants under a terminated defined benefit plan. Document Excerpt The Pension Benefit Guaranty Corporation (PBGC) is modifying its collection of information on Locating and Paying Participants (OMB control number 1212-0055; expires December 31, 2015) […]

IRS Extends the Date for Some ACA Reporting

Notice 2016-4 provides that the date for the information reporting required by the Affordable Care Act under Sections 6055 and 6056 has been extended to two months after February 1. Document Excerpt This notice extends the due dates for the 2015 information reporting requirements (both furnishing to individuals and filing with the Internal Revenue Service […]

HCTC Guidance

Notice 2016-02 provides guidance on the health coverage tax credit as modified by the Trade Preferences Extension Act of 2015. Document Excerpt This notice provides guidance regarding the health coverage tax credit (HCTC) under § 35 of the Internal Revenue Code, as modified by the Trade Preferences Extension Act of 2015, Pub. L. 114-27 (June […]

Women’s Pension Protection Act of 2015

The bill, if enacted, would extend spousal consent requirements to all individual account plans except where the distribution is being rolled over to another tax-deferred vehicle and would require coverage under retirement plans for certain part time employees. Document Excerpt Link https://www.congress.gov/bill/114th-congress/senate-bill/2110/text

Final Minimum Value Regulations

The IRS issues final regulations on minimum value of eligible employer sponsored plans and other rules regarding the health insurance premium tax credit. Document Excerpt This document contains final regulations on the health insurance premium tax credit enacted by the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of […]

Additional ACA Market Reform Guidance

Notice 2015-87 provides additional guidance on the application of the market reform and various provisions of the Affordable Care Act to employer-provided health coverage. Document Excerpt  This notice provides further guidance on the application of various provisions of the Affordable Care Act1 to employer-provided health coverage. Part II of this notice applies to provisions within […]

Cumulative List of Changes for Cycle A Plans

Notice 2015-84 contains the Cumulative List of Changes that apply to plans submitting for a determination letter in Cycle A. Document Excerpt  This notice contains the 2015 Cumulative List of Changes in Plan Qualification Requirements (2015 Cumulative List) described in section 4 of Rev. Proc. 2007-44, 2007-2 C.B. 54. The 2015 Cumulative List is to […]

Guidance on the Impact of Obergefell

Notice 2015-86 provides guidance to qualified plans and health plans on the impact of the post Windsor Supreme Court decision in Oberregefell. Document Excerpt  This notice provides guidance on the application of the decision in Obergefell v. Hodges, 576 U.S. ___, 135 S.Ct. 2584 (2015), to retirement plans qualified under section 401(a) of the Internal […]

VCP Submission Kits for Failure to Timely Contribute to a MPP or Target Benefit

The IRS has released a submission kit for plans submitting under VCP where there was a failure to timely contribute to a money purchase or target benefit plan. Document Excerpt You can restore the tax-favored status of your MPP or target benefit plan by correcting the failure under the Employee Plans Compliance Resolution System (EPCRS). […]

Changes to Enrolled Agent Program

IRS announces upcoming changes to its Retirement Plan Enrolled Agent Program. Document Excerpt Effective February 12, 2016, the Internal Revenue Service will no longer be offering the ERPA Special Enrollment Examination (ERPA SEE) to become an ERPA. Any current ERPAs will continue to hold the ERPA designation, allowing them to practice before the IRS. Anyone […]

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