IRS Gives Amendment Relief to Certain ESOPs
The Internal Revenue Service (IRS) is granting relief for employee stock ownership plans (ESOPs) that have to make amendments to satisfy diversification requirements.
Tag: Internal Revenue Service (IRS)
Obama’s ESOP Proposal Poses Concerns
A provision in President Obama’s Fiscal Year 2014 budget that pertains to employee stock ownership plans (ESOPs) could result in a disincentive for offering the plans.
Plan-to-Plan Rollovers Should Be Easier, GAO Says
The Government Accountability Office (GAO) recommends regulators take certain steps to reduce obstacles and disincentives to plan-to-plan rollovers.
29% Chose Deferral Higher Than Default
Five percent of Section 401(k) plans include an automatic contribution arrangement (ACA), according to the Internal Revenue Service (IRS) 401(k) Compliance Questionnaire.
International Issues Affecting Retirement Plans
The Internal Revenue Service (IRS) offers material on its website about international issues affecting retirement plans in the U.S.
IRS Offers FAQs About RMDs
The Internal Revenue Service (IRS) has posted frequently asked questions (FAQs) and answers regarding required minimum distributions (RMDs).
2010 Roth Conversions Must Be Reported in 2012
Many taxpayers will have to report some taxable income from amounts converted to a Roth IRA in 2010.
DC Plan Withdrawal Guarantees and QJSA Rules
A question for providers of guaranteed minimum withdrawal benefit (GMWB) products is whether (and how) the qualified joint and survivor annuity (QJSA) rules of the Internal Revenue Code...
IRS Announces New Rates for DB Funding Calculations
The Internal Revenue Service (IRS) issued guidance reflecting changes to pension funding calculations in the Moving Ahead for Progress in the 21st Century Act (MAP-21).
IRS Voluntary Correction Program Forms Available
The Internal Revenue Service (IRS) has released Voluntary Correction Program (VCP) forms.
IRS Holding Correction Program Phone Forums
The Internal Revenue Service (IRS) scheduled two phone forums to discuss recent changes made to the Employee Plans Compliance Resolution System (EPCRS).
10 Steps for DC Sponsors in the New Year
Mercer believes 2013 is a year for many defined contribution (DC) plan sponsors to take a fresh look at objectives, investment options and participant communications.
Sibson Offers Factors for Terminating Frozen DB
Employers who are thinking of terminating a frozen defined benefit plan (DB) must be aware of termination costs and administrative procedures.
IRS Forum to Address Tax-Advice Standards
The Internal Revenue Service (IRS) will hold a free phone forum for practitioners offering tax advice for employee benefit plans.
IRS to Hold Forum About 2012 Cumulative List
The Internal Revenue Service (IRS) will hold a free phone forum regarding the 2012 Cumulative List of Plan Qualification Changes.
IRS Updates Compliance Resolution System
The Internal Revenue Service (IRS) updated and expanded its Employee Plans Compliance Resolution System (EPCRS).
Fixing Late Deposit of Salary Deferrals
The Internal Revenue Service (IRS) website explains what defined contribution (DC) plan sponsors can do if they fail to timely deposit withheld salary deferrals.