EPCRS Updates Are Good News for Plan Sponsor Clients
Amendments to the Internal Revenue Service’s Employee Plans Compliance Resolution System are expected to ease compliance and reduce costs for retirement plan sponsors.
Tag: Internal Revenue Service (IRS)
Clients Must Be Proactive on Eligibility to Sponsor 403(b) Plan
Only certain tax-exempt employers are eligible to sponsor an Internal Revenue Code Section 403(b) plan, and a given employer’s exemption must be carefully protected through proper documentation and...
When a Committee of One Runs a 401(k)
Tax-qualified retirement plans run by small business owners must comply with ERISA—whether the sponsor is familiar with the landmark legislation or not.
Fidelity Wants IRS Clarification on Loans and Hardship
Fidelity is taking issue with a recent Internal Revenue Service (IRS) reminder to retirement plan sponsors about their duties to track participant loans and hardship withdrawals.
How to Help a Plan With a Nondiscrimination Fail
“[ADP/ACP failure] really depends on how long the plan has been in existence, and whether or not the plan administrator has had any experience running a 401(k) plan...
Retirement Plan Issues on the IRS’ Radar
The Internal Revenue Service has seen leadership changes, a number of employees retiring and a restriction in hiring, but it continues to have a focus on examination and...
trendspotting
Trendspotting
A look at the latest concerns and actions among employees, and what they mean for advisers
IRS Answers Questions About Reference Lists
The IRS encourages plan sponsors to include completed reference lists with determination letter applications.
IRS Expands Auto-Feature Voluntary Correction Safe Harbors
New safe harbor correction methods related to automatic enrollment features in defined contribution plans are being implemented by the Internal Revenue Service.
Most Americans Unaware of IRS Deferral Limits
A recent survey from Fifth Third Bank finds a vast majority of Americans cannot identify the Internal Revenue Service’s limits placed on annual tax-advantaged retirement plan deferrals.
IRS Finds Sponsors Not Completing Plan Correction
Retirement plan sponsors that omit any steps in the voluntary compliance process must reapply for the IRS program and pay a fee.
IRS Extends Closed DB Nondiscrimination Relief
The IRS says proposed permanent amendments to nondiscrimination regulations can be anticipated.
Readying for Those RMD Reminders
The deadline for some to start taking required minimum distributions (RMDs) is April 1, and the penalty for forgetting—a 50% tax bill—is big.
myStockOptions.com Expands Tax Return Guidance
Content in the myStockOptions.com Tax Center provides insights into the prevention of tax return mistakes for equity compensation plans.
Reminder of 457(b) Plan Voluntary Correction Issues
The IRS has updated its website about 457(b) plan submissions to its voluntary compliance program.
Guide Compares Plans for Tax-Exempt and Governmental Entities
The IRS has released a publication to help tax-exempt and governmental entities choose a retirement plan.
IRS Announces Retirement Plan Webinars in March
The Internal Revenue Service has announced two free webinars in March about important retirement plan topics.
IRS Shares Tips for Avoiding Form 5500 Scrutiny
The IRS revealed Form 5500 errors it found during various compliance projects, which could cause a plan to be selected for a compliance check.
ERISApedia Provides Answers and Discourse
The launch of ERISApedia.com provides retirement plan sponsors, administrators, attorneys and advisers with easy access to compliance information and important retirement industry materials.
Booklets Provide 2015 Social Security and Medicare Info
Mercer announced the release of informational booklets providing updated guidance about Social Security and Medicare for 2015.