regulatory and legislative

IRS Posts 2022 Instructions for Form 1042-S

The IRS has posted the 2022 tax year detailed Instructions for Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding.

FuturePlan ERISA Team

Government Savings

Forms and Publications

Retirement

Employer

Savings

Individual

DOL Issues “Supplemental Statement” to 2020 Information Letter

The Department of Labor’s Employee Benefit Security Administration (EBSA) has issued a supplemental statement to a June 2020 Information Letter.

FuturePlan ERISA Team

Defined Benefit Plan

Defined Contribution Plan

DOL

Fiduciary Issues

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.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Benefit Plan

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.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Contribution Plan

IRA

2022 IRS Form 1042-S Released

The IRS has posted the 2022 tax year version of Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding.

FuturePlan ERISA Team

Government Savings

Forms and Publications

Retirement

Employer

Savings

Individual

2022 Tax Year IRA and Retirement Plan Reporting Forms 1099-R, 5498

The IRS has posted at its website the 2022 tax year version of Form 1099-R and Form 5498.

FuturePlan ERISA Team

Forms and Publications

Retirement

Employer

Savings

Individual

Proposed Bill Would Provide Permanent Distribution Relief

Representatives Mike Thompson and Mike Kelly have introduced a bipartisan bill that would make permanent automatic retirement plan and IRA tax relief in connection with federally declared disasters.

FuturePlan ERISA Team

Retirement

Employer

Savings

Individual

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.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Benefit Plan

Defined Contribution Plan

IRA

IRS Issues Required Amendments List

The IRS has released Notice 2021-64 containing the 2021 required amendments list.

FuturePlan ERISA Team

IRS Guidance

IRS

Defined Benefit Plan

Defined Contribution Plan

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”).

FuturePlan ERISA Team

IRS

Washington Pulse

Legislative updates

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