Tag: Internal Revenue Service (IRS)

Some changes made be needed due to the end of the determination letter program.

A look at the latest legislative, regulatory and judicial developments

“Tax incentives for retirement savings are designed to help people build a nest egg,” says one high-ranking member of the Senate Finance Committee, “not a golden egg.”

The rule is intended to facilitate the payment of benefits partly in the form of an annuity and partly as a single sum.

The updated tables apply for purposes of calculating the funding target and other items for valuation dates occurring during calendar year 2017.

Defined contribution plan participant experience expert expresses real confidence in the industry’s ability to “solve the portability problem.”

The Internal Revenue Service announced that employer-sponsored retirement plans can make loans and hardship withdrawals to assist victims of historic flooding in Louisiana. 

IRS is hosting a free webcast August 25 about the ongoing efforts of its Employee Plans Compliance Unit. 

A compliance statement lists the failures and a VCP applicant’s proposed corrections.

IRS published a short, informal document explaining how its annual Cumulative List should be applied in the case of a terminating retirement plan. 

The upcoming webcast will detail major changes to the IRS determination letter and remedial plan amendment programs being implemented January 1. 

The IRS is asking DB plan sponsors to identify whether their plan has lump-sum risk transfer language.

The IRS, EBSA and the PBGC want to simplify and improve the process of creating and submitting the Form 5500 for employers. 

Rev. Proc. 2016-37 ends the remedial amendment cycle system for individually designed plans and replaces it with a new approach to the remedial amendment period.

The proposed regulations include a withdrawal of a specific provision of the notice of proposed rulemaking published in December 2008 regarding the calculation of amounts includible in income...

Proposed rules in January provided nondiscrimination testing relief.

The IRS has announced a new strategy for retirement plan compliance efforts. What should plan sponsors do to prepare for their next compliance check questionnaire?

New guidance from the IRS details when and how defined benefit annuity payments are taxed when retirement comes in steps.

However, the committee made another suggestion assuming "there will be no IRS change of heart."