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Retirement Plan › Unclaimed Property › Internal Revenue Service

Bricker Graydon LLP

The Uncashed Check Conundrum - What Employers Need to Do

Bricker Graydon LLP on

A terminated employee moves and doesn’t tell you and the check for the small benefit forced out of your retirement plan gets returned. A participant requests a distribution and the check gets delivered, but it is never...more

Keating Muething & Klekamp PLL

Benefits Monthly Minute - February 2025

Keating Muething & Klekamp PLL on

The February Monthly Minute highlights a new online ACA reporting alternative, the DOL’s temporary policy regarding escheatment of small retirement benefits owed to missing participants, and new guidance clarifying the gag...more

Alston & Bird

FAQs on Unclaimed Property Aspects of Retirement Assets

Alston & Bird on

Our Unclaimed Property Team has created FAQs to stimulate review of the numerous challenges associated with the potential escheatment of traditional IRAs and other tax-advantaged retirement assets....more

Miles & Stockbridge P.C.

Withholding and Reporting of Payments to an Unclaimed Property Fund

Miles & Stockbridge P.C. on

Sometimes, a retirement plan is required to distribute a missing participant’s account balance into a state’s unclaimed property fund. Until recently, it was unclear whether this distribution is subject to withholding of...more

Faegre Drinker Biddle & Reath LLP

IRS Issues Guidance on Missing Participants and State Unclaimed Property Funds

Faegre Drinker Biddle & Reath LLP on

In October 2020, the IRS issued two pieces of guidance addressing (1) the tax withholding and reporting of distributions from qualified retirement plans to state unclaimed property funds, and (2) the ability of taxpayers to...more

Troutman Pepper Locke

Private Clients Update - Volume 2018, Issue 1

Troutman Pepper Locke on

Year-End Reminders For 2018, the estate, gift and generation-skipping transfer tax exemption is $11.18 million per person ($22.36 million for a married couple). ...more

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