Tag: IRS

IRS Audit Project Finds Low Bonding Coverage Problem

When the Internal Revenue Service (IRS) put about 50 Form 5500 filings to the test recently, the plans filing the annual reports flunked on one major issue—buying enough fiduciary bond coverage for their fiduciaries and administrators.

IRS Delays Plan Amendment Timetable

The Internal Revenue Service (IRS) has given plan sponsors more time to adopt plan amendments to implement a variety of Pension Protection Act (PPA) requirements, including allowing participants to divest out of company stock.

IRS Issues Guidance on Complying with TARP and 409A

The Internal Revenue Service has issued guidance on the application of 409A(a) to changes made to nonqualified deferred compensation plans to comply with an advisory opinion of the Office of the Special Master for TARP Executive Compensation.

IRS Announces 2010 Taxable Wage Base for Permitted Disparity

The Internal Revenue Service has issued Revenue Ruling 2009-40, providing the table of covered compensation for the 2010 plan year for use in determining contributions to defined benefit plans and permitted disparity in defined contribution plan contributions.

IRS Sets Benefits Limits for 2010

The Internal Revenue Service has announced cost of living adjustments applicable to dollar limitations for pension plans and other items for Tax Year 2010. 

IRS To Release 457 Plan Guidance

Officials from Treasury and the IRS have indicated that the IRS is planning to issue guidance on a number of issues involving Code Section 457 deferred compensation plans, CCH reported.

IRS Puts Out RMD Waiver Guidance

The Internal Revenue Service (IRS) on Thursday provided sponsors with two sample plan amendments to help them implement the one-year waiver of the required minimum distribution (RMD).