Update to EPCRS Including Electronic Payment

Document Excerpt .01 Purpose. This revenue procedure updates the comprehensive system of correction programs for sponsors of retirement plans that are intended to satisfy the requirements of § 401(a), 403(a), 403(b), 408(k), or 408(p) of the Internal Revenue Code (the “Code”), but that have not met these requirements for a period of time. This system, […]

Guidance on Reimbursing Moving Expenses Incurred in a Prior Year

Document Excerpt Specifically, this notice provides that the suspension of the exclusion from income provided by section 132(a)(6) under section 132(g)(2) does not apply to amounts received directly or indirectly by an individual in 2018 from an employer for expenses incurred in connection with a move occurring prior to January 1, 2018, that would have […]

IRS Issues Modified Section 402(f) Notices

Document Excerpt This notice modifies the two safe harbor explanations in Notice 2014-74, 2014-50 I.R.B. 937, that may be used to satisfy the requirement under § 402(f) of the Internal Revenue Code (“Code”) that certain information be provided to recipients of eligible rollover distributions. The safe harbor explanations as modified by this notice take into […]

PBGC Finalizes Rules Governing Mergers and Transfer Between Multiemployer Plans

Document Excerpt PBGC is issuing a final rule amending its regulation on Mergers and Transfers Between Multiemployer Plans to implement procedures and information requirements for a request for a facilitated merger. This final rule also reorganizes and updates provisions in the existing regulation. Link https://www.federalregister.gov/documents/2018/09/14/2018-19988/mergers-and-transfers-between-multiemployer-plans

Updates to PBGC Premium Filing Instructions

Document Excerpt This document provides information for plans paying premiums for plan years beginning in 2018, including instructions for each data element that must be reported. Link https://www.pbgc.gov/sites/default/files/2018-cpf-instructions.pdf

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