The IRS provided a reminder in the May 24, 2023, edition of Employee Plans News that beginning June 1, 2023, the IRS is expanding the determination letter program to include individually designed and terminating 403(b) plans. Guidance permitting these determination letter applications under Revenue Procedure 2022-40 was previously announced.
Regulatory and Legislative
The Internal Revenue Service has announced that it intends to begin issuing opinion letters regarding Cycle 2 pre-approved 403(b) plans, including the 2022 cumulative list of changes in those requirements.
Regulatory and Legislative
The Office of Management and Budget has received a final rule from the Department of Labor titled “Adoption of Amended and Restated Voluntary Fiduciary Correction Program”.
Regulatory and Legislative
The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms and straight-line winds in the Crow Tribe of Montana.
