regulatory updates

PPP Reopens the Week of January 11 2021

Paycheck Protection Program reopens the week of January 11, 2021. 

FuturePlan ERISA Team

COVID-19

Defined Contribution Plan

IRA

Final Regulations Published on Independent Contractor Status

Final regulations, entitled Independent Contractor Status Under the Fair Labor Standards Act, have been published in the Federal Register. 

FuturePlan ERISA Team

Defined Contribution Plan

DOL

Deadline Relief for Mississippi Hurricane Zeta Victims

The IRS has announced the postponement of certain tax-related deadlines for Mississippi victims of Hurricane Zeta. 

FuturePlan ERISA Team

Defined Contribution Plan

IRA

IRS Guidance

IRS Addresses Tax Benefits Related to PPP Loans

The IRS has issued Revenue Ruling 2021-02 guidance related to tax benefits associated with PPP loans.   

FuturePlan ERISA Team

COVID-19

Defined Benefit Plan

Defined Contribution Plan

IRS

Final Regulations on Offset Retirement Plan Loan Rollovers

IRS final regulations on offset retirement plan loan rollovers have been published in the Federal Register. 

FuturePlan ERISA Team

Defined Contribution Plan

IRS Guidance

DOL Updates Q&As for Pandemic-Related Paid Leave

The DOL has issued an update to its Q & A guidance on paid employee leave under provisions of FFCRA.

FuturePlan ERISA Team

COVID-19

DOL

Health and Welfare

IRS Releases 2021 Tax Year Reporting Forms 1099-R and 5498

The IRS has posted at its website the 2021 tax year version of Form 1099-R and Form 5498. 

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Contribution Plan

IRA

Deadline for CARES Act Retirement Plan Distribution Benefits

December 30, 2020, is the deadline for eligible taxpayers to take distributions from IRAs and employer-sponsored retirement plans that qualify for special tax benefits under CARES Act. 

FuturePlan ERISA Team

Government Savings

Retirement

Employer

Savings

Individual

DOL Final Regulations on Independent Contractor Status

Final Independent Contractor Status Under the Fair Labor Standards Act regulations issued by the DOL have been received by the OMB. 

FuturePlan ERISA Team

DOL

Defined Contribution Plan

Spending Bill Contains Coronavirus Relief

On December 21, 2020, Congress passed additional measures to provide economic relief from the effects of the coronavirus pandemic. On December 27, 2020, it was signed into law. 

FuturePlan ERISA Team

Washington Pulse

Legislative updates

COVID-19

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