2022 ERISA Plan Compliance Calendar
A schedule to help plan sponsors track important due dates for their plan
Tag: Internal Revenue Service (IRS)
Senators Ask IRS to Examine Policies on Survivors’ Pension Benefits
They say current regulatory guidance has led to members of the LGBTQIA+ community being denied survivor benefits after losing their...
IRS Issues 2021 Required Amendments List
The changes in requirements that would necessitate an amendment relate to the special financial assistance (SFA) program for financially troubled...
2021 Best Practices Conference: Understanding ERISA and Fiduciary Fundamentals
Attendees at the virtual conference learned about what it takes to operate a plan that complies with all regulatory responsibilities...
IRS Announces 2022 Retirement Plan Contribution and Benefit Limits
Most defined contribution plan participants can defer up to $20,500 to plans in 2022.
Getting Retirement Plan Help From the IRS
Retirement plan sponsors have several avenues for getting help from the IRS with general questions, technical issues and corrections.
IRS Issue Snapshot Reflects Changes to Hardship Withdrawal Rules
Though the document addresses changes for 401(k) plans, all but one of them applies to 403(b) plans as well.
Deemed Distributions Can Be Triggered by More Than Just Loan Nonpayment
The IRS reminds retirement plan sponsors of rules that, if broken, can result in loan amounts being deemed distributions.
IRS Addresses Labor Shortages With FAQs About Rehiring Retirees
The agency has issued two FAQ documents addressing pension plan rules when rehiring retirees and says federal departments are holding...
IRS Issues Reminder About Special 415 Limit Rule for Certain 403(b) Plan Participants
If a 403(b) plan participant also sponsors a plan to which he contributes, the plans must satisfy the annual additions...
DOL Asks for Comments on Proposed Changes to Form 5500
The agency—which says the revisions are needed to implement provisions of the SECURE Act—has also published a notice of proposed...
IRS Issues Procedures for 403(b) Plan Remedial Amendment Cycle 2
The IRS says it is modifying the procedures for the 403(b) pre-approved plan program to be more similar to those...
A Reminder of What IRS Examiners Will Look for Regarding NQDC Plans
An updated audit technique guide discusses the doctrines of constructive receipt and economic benefit, as well as IRC Section 409A,...
IRS Updates Issue Snapshot Regarding 403(b) Universal Availability Requirements
The agency highlights a common error in applying the requirements and makes self-audit suggestions.
IRS Addresses Form 5500 Filing for Plans Adopted Retroactively
No Form 5500 is required for the plan year in which the new plan is effective, but additional filing instructions...
IRS Updates EPCRS With Additional Corrections
Among other changes, the agency has introduced two new correction methods for overpayments to DB plan participants or beneficiaries.
Regulators Issue Guidance on Multiemployer Plan Assistance
PBGC has issued an interim final rule addressing assistance requirements, and the IRS has released a notice for plan sponsors...
IRS Extends Again Relief From Physical Presence Requirement for Participant Elections
The agency is requesting comments about whether relief should be made permanent.
IRS Reminds Plan Sponsors of Plan Qualification Requirements
The IRS updates its Operational Compliance List periodically to reflect new legislation and IRS guidance, and it reflects that many...
IRS Says Lack of Details Is a Common Error in VCP Submissions
Plan sponsors, or their representatives, can refer to an updated IRS webpage to ensure submissions to the voluntary correction program...