defined contribution plan

New Withholding Form to Be Used for 2022

The IRS has made available a 2022 tax year draft Form W-4P and indicates that the form will be split into two forms. 

FuturePlan ERISA Team

Defined Contribution Plan

IRA

IRS Guidance

Notices for 2019 Forms 5500 Series Extension Approvals

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. 

FuturePlan ERISA Team

Defined Contribution Plan

IRS

IRS Guidance

Missing Participants: Prevention is the Best Cure

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. 

FuturePlan ERISA Team

Retirement Spotlight

Defined Contribution Plan

IRA

DOL

Fiduciary Issues

New IRS Guidance for Federally Declared Disasters

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. 

FuturePlan ERISA Team

Retirement Spotlight

Defined Contribution Plan

IRA

HSA

IRS

IRS Guidance

DOL Confirms Effective Date for Investment Advice PTE

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. 

FuturePlan ERISA Team

Defined Contribution Plan

DOL

Fiduciary Issues

IRA

Pandemic Relief Package Includes Benefit Provisions

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

FuturePlan ERISA Team

COVID-19

Defined Benefit Plan

Defined Contribution Plan

Health and Welfare

SECURE Act

DOL Proposes Delay for Independent Contractor Regulations

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

FuturePlan ERISA Team

Defined Contribution Plan

DOL

Health and Welfare

IRS Releases Final QPLO Regulations

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

FuturePlan ERISA Team

Washington Pulse

Defined Contribution Plan

IRS

IRS Guidance

Public Hearing for Proposed Regulations on Federally Declared Disasters

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. 

FuturePlan ERISA Team

Defined Contribution Plan

IRA

IRS Guidance

DOL Releases Final PTE on Investment Advice

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

FuturePlan ERISA Team

Washington Pulse

Defined Contribution Plan

DOL

Fiduciary Issues

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