Benefits Forward

Announcement 2012-3 extends to April 2, 2012 the deadline to submit on-cycle applications for opinions and advisory letters for certain pre-approved defined contribution plans. Document Excerpt  The extension provided by this announcement applies to the deadline for submitting on-cycle applications for opinion and advisory letters for mass submitter lead plans, word-for-word identical plans, master and [...]

Notice 2011-97 is the Cumulative List for Cycle B plan filers. Document Excerpt This notice contains the 2011 Cumulative List of Changes in Plan Qualification Requirements (2011 Cumulative List) described in section 4 of Rev. Proc. 2007-44, 2007-2 C.B. 54. The 2011 Cumulative List is to be used by plan sponsors and practitioners submitting determination [...]

Notice 2012-06 extends the transition relief provided in Rev. Rul. 2011-1 and Rev. Rul. 2008-40 for certain group trusts and plans that qualify under the Puerto Rican Internal Revenue Code and that participate in group trusts and certain retirement plans that benefit Puerto Rican residents. Document Excerpt  This notice extends and expands the transition relief [...]

Announcement 2011-82 announces several changes to the determination letter program. Document Excerpt This announcement describes several important changes to the Employee Plans determination letter program that will take effect in 2012. These changes eliminate features of the determination letter program that are of limited utility to plan sponsors in comparison with the burdens they impose. [...]

Announcement 2011-81 provides temporary relief for entering into what is viewed as fairly common cross collateralization agreements but not for the actual enforcement by collection on the account. Document Excerpt  The DOL has advised the Internal Revenue Service (IRS) that DOL is considering further action with respect to the issues described above, including consideration of a [...]

 Notice 2011-100 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 as in effect for plan years beginning before 2008. Document Excerpt This notice provides guidance as to the corporate bond weighted average interest rate and the [...]

The IRS has released FAQs on Form 8955-SSA. Document Excerpt These frequently asked questions and answers provide general information and should not be cited as legal authority. They provide the user with information responsive to general inquiries but the answers do not apply to every situation and yours may require additional research. Link http://www.irs.gov/retirement/article/0,,id=238940,00.html

The IRS has released guidance which includes a sample Section 436 amendment that defined benefit plans may adopt. Document Excerpt This notice provides a sample plan amendment that plan sponsors may adopt to satisfy § 436 of the Internal Revenue Code regarding limitations on the accrual and payment of benefits under certain underfunded single employer [...]

The Fall, 2011 version of the IRS’ Retirement News for Employers includes a lot of guidance regarding SEPs and SIMPLEs. Document Excerpt Link http://www.irs.gov/pub/irs-tege/rne_fall2011.pdf

The IRS has released the transcript of its telephone forum on participant loans. Document Excerpt  Note – Any federal tax advice contained in this transcript is intended to apply to the specific situation described and should not be considered official guidance independent of the presentation. The tax advice and statements contained herein should not be [...]