defined contribution plan

The IRS has announced that processing requests for an extension of time to file 2019 Forms 5500 series returns were delayed in 2020, resulting in delayed mailing of Notice CP 216F. 

Unfortunately, many employers don’t consider how to handle missing participants’ account balances or how to prevent losing track of participants in the first place. 

At the end of 2019, the IRC was amended to create a mandatory 60-day postponement for certain federal tax-related deadlines in the event of a disaster. 

The DOL’s EBSA has confirmed that prohibited transaction exemption 2020-02 entitled, “Improving Investment Advice for Worker & Retirees,” will take effect on February 16. 

Legislation proposed by the House Ways and Means Committee to provide pandemic relief includes several items that would affect retirement and health benefits. 

The DOL Wage and Hour Division has proposed a delay of the effective date for final regulations on independent contractor status.

Plan participants have more time to roll over certain plan loan offsets under the Tax Cuts & Jobs Act of 2017 (TCJA). 

Published in the Federal Register is an IRS notice of public hearing on proposed regulations for automatic 60-day postponement of certain deadlines following federally declared disasters. 

The DOL addresses how financial organizations or professionals can receive certain compensation that would otherwise violate the prohibited transaction rules. 

The IRS has revealed that pre-approved qualified retirement plan documents may be used to establish arrangements known as pooled employer plans, or PEPs.