Benefits Forward

The IRS has issued final regulations governing disclosure obligations of employee benefit plans and other tax exempt organizations engaged in prohibited tax shelter transactions.

Notice 2010-52 provides guidance as to the corporate bond weighted average interest rate and the permissible range of interest rates specified under § 412(b)(5)(B)(ii)(II) of the Internal Revenue Code. It also provides guidance on the corporate bond monthly yield curve (and the corresponding spot segment rates), the 24-month average segment rates, and the funding transitional segment rates under § 430(h)(2). In addition, this notice provides guidance as to the interest rate on 30-year Treasury securities under § 417(e)(3)(A)(ii)(II) as in effect for plan years beginning before 2008, and the minimum present value segment rates under § 417(e)(3)(D) as in effect for plan years beginning after 2007.

Notice 2010-48 extends to July 30, 2010 the April 30 deadline for restating certain disaster affected pre-approved defined contribution plans.

Small firms may now begin applying for certification for tax credits for grants available under the Qualifying Therapuetic Discovery Project Program, created by the Affordable Care Act.

The Federal Register version of the interim final regulations governing grandfathered plan status for purposes of the Patient Protection Act.

Notice 2010-47 provides guidance on the corporate bond interest rate and the permissible range for purposes of Section 412(b).

The IRS releases its fiscal year 2010 Employee Plans Work Plan.

Health Savings Account limits to remain unchanged for 2011.

The IRS has released the final regulations governing the diversification requirements of Section 401(a)(35).

The current edition of the IRS’ Employee Plans News includes a discussion of the new questionaire to be sent to 1200 sponsors of 401(k) plans.