IRS Guidance

Issue Snapshot–Preventing an S ESOP Nonallocation Year

Document Excerpt ongress enacted IRC Section 409(p) in 2001 (P.L. 107-16 Sec. 656) to prevent S corporation employee stock ownership plans (ESOPs) from continuing to be used as abusive tax shelters. The rules under IRC Section 409(p) are designed to prevent a group of “disqualified persons” (DPs) from collectively owning 50% or more of an […]

Operational Compliance List

Document Excerpt The Operational Compliance List (“OC” List) is provided per Rev. Proc. 2016-37, Section 10, to help plan sponsors and practitioners achieve operational compliance by identifying changes in qualification requirements effective during a calendar year. The OC List: Identifies matters that may involve either mandatory or discretionary plan amendments depending on the particular plan. […]

Updated Mortality Improvement Rates and Static Mortality Tables for 2020

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 Security Act of 1974, Pub. L. No. 93-406, as amended (ERISA). These updated mortality improvement rates and […]

Covered Compensation Tables for 2019

Document Excerpt This revenue ruling provides tables of covered compensation under § 401(l)(5)(E) of the Internal Revenue Code and the Income Tax Regulations thereunder, for the 2019 plan year. Link

IRS No Longer Intends to amend Required Minimum Distribution Regulations to deal with Pension De-risking

Document Excerpt This notice is to inform taxpayers that the Department of the Treasury (Treasury Department) and the Internal Revenue Service (IRS) no longer intend to amend the required minimum distribution regulations under Section 401(a)(9) of the Internal Revenue Code (Code) to address the practice of offering retirees and beneficiaries who are currently receiving annuity […]

Qs and As on Reporting on Offers of Coverage by Employers

Document Excerpt Certain employers are required to report to the IRS information about whether they offered health coverage to their employees and if so, information about the coverage offered. This information also must be provided to employees. These FAQs address these reporting requirements. Link

Qs and As on Information Reporting under Section 6055

Document Excerpt Information reporting under section 6055 for health coverage providers. More information is available on the information reporting for providers of minimum essential coverage page. Link

FAQs for Employers Adopting Pre-approved Plans

Document Excerpt Link

Exclusion of the Value of Meals from Taxable Income

Document Excerpt Link

Correcting Mistaken Contributions to an HSA

Document Excerpt This letter responds to your request for information concerning mistaken contributions to a Health Savings Account (HSA). Link

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