The Internal Revenue Service recently issued proposed regulations under Section 457 of the Internal Revenue Code (the “Code”) that prescribe rules regarding deferred compensation plans sponsored by state and local governments...more
The IRS added new compliance questions to the 2015 IRS Form 5500/5500-SF, which is the annual report filed by retirement plans with the Department of Labor and the IRS. The Form 5500 instructions, however, specifically...more
The IRS recently issued Notice 2016-16 (the “Notice”), which permits most mid-year amendments to safe harbor 401(k) plans. This is welcome news to sponsors of safe harbor 401(k) plans who, prior to the issuance of the...more
The IRS recently issued Notice 2016-03 (the “Notice”), addressing several items with respect to changes made to the IRS’s determination letter program. The Notice also extends the deadline for sponsors to adopt a...more
The IRS recently published its annual update on user fees, Revenue Procedure 2016-8, which now includes fees for Voluntary Compliance Program (“VCP”) applications filed with the IRS pursuant to the Employee Plans Compliance...more
The IRS issued Notice 2015-49 (the "Notice") on July 9, 2015, effectively ending the ability of sponsors of qualified defined benefit pension plans ("DB Plan") to "de-risk" their plans by offering participants in pay status...more