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Benefit Plan Sponsors › Excise Tax › Internal Revenue Service

Bricker Graydon LLP

Don’t Forget About the IRS When Correcting Delinquent Plan Contributions

Bricker Graydon LLP on

Employers that do not timely deposit participant deferrals and loan contributions to their employer sponsored retirement plans can be subject to Department of Labor (DOL) penalties for breaching their fiduciary duties....more

Nelson Mullins Riley & Scarborough LLP

DOL Relaxes Certain Self-Correction Rules for Tax-Qualified Retirement Plans

Nelson Mullins Riley & Scarborough LLP on

On Jan. 15, 2025, the Department of Labor (DOL) published updates to its Voluntary Fiduciary Correction Program (VFCP) to allow certain delinquent participant contributions, delinquent loan repayments and improper loans to be...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Make sure RMDs are made

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

In the past 35 years, it changed on who had to take out a required minimum distribution (RMD) from a qualified retirement plan. Thankfully, it hasn’t changed since 1997. So a person who is a 5% owner has to take out an RMD...more

Ruder Ware

The IRS Says Never Mind – You Can Have Your Higher HSA Limit!

Ruder Ware on

I previously blogged about how unusual it was for the IRS to implement a retroactive change to a previously announced limit. As you may remember, the $6,900 limit on HSA contributions for a taxpayer eligible for a family high...more

Sullivan & Worcester

Employment and Benefits Advisory: 2017 Reminders and Developments

Sullivan & Worcester on

New Relief for Small Employer Health Reimbursement Arrangements - As mentioned in prior advisories, the Departments of Labor, Health and Human Services and Treasury have taken the position that employers cannot reimburse...more

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