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Benefit Plan Sponsors › Internal Revenue Service › Penalties

Bricker Graydon LLP

Is My Health Plan Affordable Enough?

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As employers increasingly struggle with rising health plan costs, the IRS has provided some good news. Recently, the IRS announced that the Affordable Care Act (ACA) affordability threshold will increase to 9.96% of household...more

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

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

How 401(k) Plan Sponsors Can Be Pro-Active

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

As a 401(k) plan sponsor, you need to understand that not only is the plan a great benefit for you and your employees, but it has some negative aspects if you’re not proactive in maintaining it. If you ignore your 401(k)...more

Stinson LLP

Less Paperwork, More Peace of Mind: New ACA Laws Lighten Employers' Reporting Load

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On December 23, 2024, President Biden signed into law two important pieces of legislation, the Paperwork Burden Reduction Act (Reduction Act) and the Employer Reporting Improvement Act (Reporting Act), that aim to ease the...more

Venable LLP

Changes to the ACA: Reporting and Employer Penalties

Venable LLP on

President Biden recently signed into law the Paperwork Burden Reduction Act and the Employer Reporting Improvement Act. These new laws make important changes to the Affordable Care Act (ACA)....more

Snell & Wilmer

2024 End-of-Year Plan Sponsor “To Do” List (Part 1) Health and Welfare

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We are pleased to present our annual End of Year Plan Sponsor “To Do” Lists. This year, we present our “To Do” Lists in four separate SW Benefits Updates. This Part 1 covers year-end health and welfare plan issues. Parts 2,...more

Holland & Hart - The Benefits Dial

Don’t Think Twice, It’s All Right to Ignore That Late Form 8955-SSA Notice

Holland & Hart - The Benefits Dial on

I have heard from a couple of clients recently who have received a penalty notice from the IRS for purportedly filing a late or incomplete 2022 Form 8955-SSA (the IRS form that plan sponsors use to report terminated...more

McDermott Will & Schulte

DOL Proposes Significant Changes to VFCP Program

McDermott Will & Schulte on

On November 21, 2022, the US Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) released a proposed amendment and restatement of the Voluntary Fiduciary Correction Program (VFCP), along with a...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - March 2016

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Editor’s Overview - This month we review the U.S. Supreme Court’s decision in Montanile v. Board of Trustees of National Elevator Industries Health Benefit Plan where the Supreme Court considered the scope of...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - August 2015

Proskauer Rose LLP on

Editor's Overview - As the summer draws to a close, this month's Newsletter previews three cases that the U.S. Supreme Court already has agreed to hear that ought to be of particular interest to ERISA plan sponsors and...more

King & Spalding

August and September 2015 Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

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Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties. To avoid such...more

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