IRS Issues Yield Curves and Segment Rates for DB Plans
The IRS has issued Notice 2022-2, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
IRS Issues Deadline Relief for Kentucky Storm Victims
The IRS has issued a news release announcing the postponement of certain tax-related deadlines for Kentucky victims of severe storms, flooding, and tornadoes.
IRS Issues Draft Instructions for Reporting of Qualified Disaster Distributions
The IRS has provided draft Instructions for Form 8915-F, Qualified Disaster Retirement Plan Distributions and Repayments.
IRS Issues Required Amendments List
The IRS has released Notice 2021-64 containing the 2021 required amendments list.
House Passes the Build Back Better Act
On November 19, 2021, the U.S. House of Representatives passed H.R. 5376, the Build Back Better Act (“BBB Act” or “the Act”).
Infrastructure Bill Signed into Law
The Infrastructure Act includes additional pension funding relief, disaster relief changes, and new digital asset reporting requirements.
IRS Postpones Requirement to Use Updated Forms W-4P and W-4R
The IRS has issued a fourth draft of the 2022 Form W-4P, Withholding Certificate for Periodic Pension or Annuity Payments.
Form 5500 Changes Proposed
In September 2021, the DOL, IRS, and Pension Benefit Guaranty Corporation (PBGC), collectively referred to as the “Agencies”, released proposed changes to Form 5500, Annual Return/Report of Employee Benefit Plan.
IRS Priority Guidance Plan Includes Retirement Items
The IRS has issued its initial 2021-2022 Priority Guidance Plan, in which it describes guidance projects in the current fiscal year.
IRS Provides Amendment Guidance
The IRS has released Revenue Procedure 2021-37, providing procedures for the issuance of opinion letters and the timing requirements of remedial amendment periods for Cycle 2 approvals of 403(b) plans.
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