Extension of Due Date for reporting under Sections 6055 and 6056

Notice 2018-06 extends the due date for reporting to individuals the 2017 Form 1095-B. Document Excerpt This notice extends the due date for certain 2017 information-reporting requirements for insurers, self-insuring employers, and certain other providers of minimum essential coverage under section 6055 of the Internal Revenue Code (Code) and for applicable large employers under section […]

Missing Participant Program Final Rule

The PBGC has released its final rule governing its expanded Missing Participant program. Document Excerpt SUMMARY: The Pension Benefit Guaranty Corporation (PBGC) administers a program to hold retirement benefits for missing participants and beneficiaries in terminated retirement plans and to help those participants and beneficiaries find and receive the benefits being held for them. The […]

Allocation of Assets in Single-Employer Plans: Valuation of Benefits and Assets

This regulation amends existing PBGC regulations on Allocation of Assets in Single-Employer Plans by substituting a new table for determining expected retirement ages for participants in plans in distress or involuntary termination with valuation dates falling in 2018. Document Excerpt Link https://www.federalregister.gov/documents/2017/12/20/2017-27361/allocation-of-assets-in-single-employer-plans-valuation-of-benefits-and-assets-expected-retirement

DOL Fall 2017 Regulatory Agenda

The DOL has released its updated 2017 Regulatory Agenda. Document Excerpt Link https://www.reginfo.gov/public/do/eAgendaMain?operation=OPERATION_GET_AGENCY_RULE_LIST&currentPub=true&agencyCode=&showStage=active&agencyCd=1200&Image58.x=36&Image58.y=7&Image58=Submit

GAO Analyzed Changes in Exchange Benchmark Plans

The GAO has analyzed changes in benchmark plans and premiums from 2015 through 2017. Document Excerpt • In most of the nearly 2,600 counties included in the analysis, the plans identified as benchmark plans, and the premiums for these plans, changed from year to year. For example, in 85 percent of counties, the 2015 benchmark […]

Updated Mortality Improvement Rates and Static Mortality Tables

Notice 2018-02 provides updated mortality improvement rates and static mortality tables for defined benefit plans for 2019. Document Excerpt This notice specifies updated mortality improvement rates and static mortality tables to be used for defined benefit pension plans under § 430(h)(3)(A) of the Internal Revenue Code (Code) and section 303(h)(3)(A) of the Employee Retirement Income […]

Guidance under Section 409A for Pre-2009 Section 457A Deferrals

Notice 2017-75 provides guidance under Section 409A for pre-2009 Section 457A deferrals, Document Excerpt This notice provides guidance on the application of Internal Revenue Code (Code) section 409A with respect to amounts that are includible in income pursuant to section 801(d)(2) of the Tax Extenders and Alternative Minimum Tax Relief Act of 2008, Div. C […]

CRS FAQs on the Affordable Care Act

The Congressional Research Service produced this Frequently Asked Questions to assist Congressional staffers in responding to constituents with questions about the Affordable Care Act. Document Excerpt Link https://benefitslink.com/articles/CRS_R43215_12012017.pdf

Revised VCP Application Form 8950

The IRS has released a revised version of Form 8950 used to make a submission for correction under the IRS’ Voluntary Correction Program. Document Excerpt The IRS has updated Form 8950, Application for Voluntary Correction Program (VCP) Submission under the Employee Plans Compliance Resolution System (EPCRS), and its instructions. Employers who have adopted a tax-favored […]

Revised Form 5300

The IRS has significantly revised Form 5300, Application for Determination Letter. Document Excerpt Application for Determination for Employee Benefit Plan has undergone major revisions reducing it by seven pages. Plan sponsors submit Form 5300 to request a determination letter from the IRS on the qualification of their defined benefit or defined contribution plan and the […]

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