Under Notice 2022-33, the Internal Revenue Service (IRS) has extended the deadline for adopting amendments to qualified retirement plans and individual retirement accounts (IRAs) to reflect certain changes made by the Setting...more
The Department of Labor (DOL) has issued Field Assistance Bulletin No. 2021-02 to further delay enforcement of Prohibited Transaction Exemption 2020-02 (PTE 2020-02), which sets forth several requirements that financial...more
10/28/2021
/ Broker-Dealer ,
Department of Labor (DOL) ,
Fiduciary Duty ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Investment ,
Investment Adviser ,
Investors ,
IRA Rollovers ,
PTEs ,
Retirement Plan
The Department of Labor (DOL) has issued a notice of a proposed class exemption from certain prohibited transaction restrictions under the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code (IRC)...more
Earlier this week, the House of Representatives passed a budget bill, HR 1158, and a related bill, HR 1865, to enact the "Setting Every Community Up for Retirement Enhancement Act," referred to as the “SECURE Act.” The SECURE...more
Last week, the House of Representatives overwhelmingly passed the “Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019” (H.R. 1994) by a vote of 417-3. The bill makes numerous changes affecting...more
5/29/2019
/ 529 Plans ,
Annual Reports ,
Benefit Plan Sponsors ,
Defined Contribution Plans ,
Department of Labor (DOL) ,
Employee Benefits ,
Filing Deadlines ,
Form 5500 ,
Income Taxes ,
Individual Retirement Account (IRA) ,
Investment Management ,
Non-Discrimination Rules ,
Part-Time Employees ,
Proposed Legislation ,
Required Minimum Distributions ,
Retirement Plan ,
Safe Harbors ,
Tax Returns
On June 21, 2018, the Fifth Circuit Court of Appeals issued a mandate vacating the controversial fiduciary rule issued by the U.S. Department of Labor (DOL) in 2016. The mandate follows the court’s opinion issued on March 15,...more
6/27/2018
/ Appeals ,
Best Interest Contract Exemptions ,
Broker-Dealer ,
Department of Labor (DOL) ,
Disclosure Requirements ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Rule ,
Financial Services Industry ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Investment Management ,
Judicial Mandates ,
Retirement Funds ,
Securities and Exchange Commission (SEC) ,
Securities Transactions ,
Vacated
The Internal Revenue Service (IRS) has issued Revenue Procedure 2016-47, which provides for a new self-certification procedure for participants who receive retirement plan distributions but inadvertently miss the 60-day time...more
8/30/2016
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Distribution Rules ,
Employee Benefits ,
Individual Retirement Account (IRA) ,
IRA Rollovers ,
IRS ,
Plan Administrators ,
Private Letter Rulings ,
Retirement Plan ,
Self-Certification ,
Tax Code ,
Waivers
To simplify the rollover validation process, the Internal Revenue Service (IRS) has issued a new Revenue Ruling 2014-9 that provides guidance on the process for a trustee-to-trustee tax-free rollover between tax-qualified...more
4/4/2014
/ Benefit Plan Sponsors ,
Form 5500 ,
Hiring & Firing ,
Individual Retirement Account (IRA) ,
IRA Rollovers ,
IRS ,
New Hires ,
Plan Administrators ,
Qualified Retirement Plans ,
Retirement Plan ,
Tax-Free Transfers