IRS Guidance

Additional Temporary Relief for Closed Defined Benefit Plans

Document Excerpt This notice provides additional temporary nondiscrimination relief for closed defined benefit plans (that is, defined benefit plans that provide ongoing accruals but that have been amended to limit those accruals to some or all of the employees who participated in the plan on a specified date) that generally meet the eligibility conditions for […]

Proposed Updated Required Minimum Distribution Regulations

Document Excerpt SUMMARY: This document sets forth proposed regulations providing guidance relating to the life expectancy and distribution period tables that are used to calculate required minimum distributions from qualified retirement plans, individual retirement accounts and annuities, and certain other tax-favored employer-provided retirement arrangements. These regulations affect participants, beneficiaries, and plan administrators of these qualified […]

2020 Dollar Limits Released

Document Excerpt Section 415 of the Internal Revenue Code (the Code) provides for dollar limitations on benefits and contributions under qualified retirement plans. Section 415(d) requires that the Secretary of the Treasury annually adjust these limits for cost-of-living increases. Other limitations applicable to deferred compensation plans are also affected by these adjustments under § 415. […]

Form 8554-EP Renewal Enrollment for Practice Before the IRS

Document Excerpt Link https://www.irs.gov/pub/irs-pdf/f8554ep.pdf

Fiscal Year 2020 Program

Document Excerpt FISCAL YEAR 2020 COMPLIANCE PROGRAM TE/GE delivers a compliance platform that is divided into six portfolio programs: Compliance Strategies; Data-Driven Approaches; Referrals, Claims and Other Casework; Compliance Contacts; Determinations; and Voluntary Compliance and Other Technical Programs. Data is used to identify and address existing and emerging high-risk areas of noncompliance and steer the […]

Notice of Hearing on Multiple Employer Plans

Document Excerpt SUMMARY: This document provides a notice of public hearing on proposed regulations relating to the tax qualification of plans maintained by more than one employer. These plans, maintained pursuant to section 413(c) of the InternalRevenue Code (Code), are often referred to as multiple employer plans or MEPs. DATES: The public hearing is being […]

ACA Pay or Play Penalties Still Apply the IRS Confirms

Document Excerpt Link https://www.irs.gov/pub/irs-wd/19-0008.pdf

Remedial Amendment Period for Section 403(b) Form Failures

Document Excerpt This revenue procedure sets forth a system of recurring Remedial Amendment Periods for correcting Form Defects in § 403(b) Individually Designed Plans and § 403(b) Pre-approved Plans first occurring after the Initial Remedial Amendment Period (as defined in section 4.03) ends on March 31, 2020, and provides a limited extension of the Initial […]

Application of the Employer Shared Responsibility Provisions and Certain Nondiscrimination Rules to HRAs

Document Excerpt SUMMARY: This document sets forth proposed regulations to clarify the application of the employer shared responsibility provisions and certain nondiscrimination rules under the Internal Revenue Code (Code) to health reimbursement arrangements (HRAs) and other account-based group health plans integrated with individual health insurance coverage or Medicare (individual coverage HRAs), and to provide certain […]

Final Hardship Regulations

Document Excerpt This document contains final regulations that amend the rules relating to hardship distributions from section 401(k) plans. The final regulations reflect statutory changes affecting section 401(k) plans, including changes made by the Bipartisan Budget Act of 2018. Link https://www.federalregister.gov/documents/2019/09/23/2019-20511/hardship-distributions-of-elective-contributions-qualified-matching-contributions-qualified

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