Proposed rules clarify and modify previous regulations regarding Sec. 409A nonqualified deferred compensation plans.
The IRS issued a procedure permitting taxpayers, in certain circumstances, to give an IRA trustee or retirement plan administrator a certification statement to treat a rollover as timely even if the taxpayer failed to complete the rollover within 60 days after a distribution.
A nonqualified deferred compensation plan allows compensation earned in one year to be set aside and paid in a later year.
Employer Beware: Affiliated Service Group Is a Single Employer for Benefit and Health Care Coverage Testing
Practitioners may not know how the affiliated service group rules apply to various situations.
Employee benefit plans will face new reporting requirements under extensive changes to Form 5500, Annual Return/Report of Employee Benefit Plan, proposed by the federal government.
The IRS issued temporary regulations intended to halt the practice of treating partners as employees of a disregarded entity in order to include them in employee benefit plans.
The IRS issued proposed regulations under Sec. 409A, which provides that if certain requirements are not met, amounts deferred under a nonqualified deferred compensation plan are currently includible in gross income.
The IRS explained how to calculate the investment in the contract for retirement benefits distributed while the employee is still working part time and that nonqualifying contracts could not take advantage of the same rules.
The regulations allow taxpayers to allocate pretax amounts to direct rollovers, rather than having to make pro rata allocations.
The IRS issued the inflation-adjusted figures for calendar year 2017 for the annual contribution limits for health savings accounts.
An ESOP, like any tax-qualified plan, will only receive promised benefits if the employer follows all of requirements related to establishing and maintaining a tax-qualified plan.
Employers would be able to maintain closed defined benefit plans without running afoul of nondiscrimination rules.
The opportunity to get more assets into Roth vehicles via various means has evolved over the last several years.
The so-called Cadillac plan excise tax is now scheduled to take effect in 2020.
Employers will be able to maintain closed defined benefit plans without running afoul of the nondiscrimination rules of Sec. 401(a) under proposed regulations issued by the IRS.
The IRS issued procedures for employers to use to handle the retroactive application of the increased amount of the 2015 income exclusion for monthly transit benefits.
In response to concerns by employers and insurers about meeting the current due dates for information returns required under the health care law, the IRS delayed the due dates for these returns for the upcoming filing season.
Twenty-six Q&As issued by the IRS provide further guidance on a wide variety of issues affecting employer-provided health coverage under the Patient Protection and Affordable Care Act.
The IRS released additional guidance on the effect of the Supreme Court’s same-sex marriage decision on qualified retirement plans and health and welfare benefit plans, including Sec. 125 cafeteria plans.
This article details notable developments in the PPACA and tax-qualified retirement plans.