irs guidance

IRS Final Rule on Electronic Filing Requirements has left OMB

A final rule from the IRS titled “Electronically Filed Returns” has left The Office of Management and Budget.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Contribution Plan

IRA

Deadline Relief for Florida Hurricane Nicole Victims

The IRS has announced the postponement of certain tax-related deadlines for victims of Hurricane Nicole in Florida.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Contribution Plan

DOL

Legislative updates

Updated Yield Curves and Segment Rates for DB Plans

The IRS has issued Notice 2023-5, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Benefit Plan

IRS Announces Applicable Federal Rates for January 2023

The IRS has issued Revenue Ruling 2023-1, which contains the applicable federal rates (AFR) for January 2023.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Contribution Plan

IRA

How IRS Notice 2022-53 Affects Beneficiaries

IRS will not enforce 50% excess accumulation penalty tax for certain beneficiaries.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Contribution Plan

IRA

Proposed Regulations to Update Mortality Tables Delayed

Earlier this year, the IRS released proposed regulations to update the mortality tables that are used to calculate minimum required contributions for single-employer defined benefit (DB) pension plans.

FuturePlan ERISA Team

IRS Guidance

Defined Benefit Plan

2022 Form 5500 Series Informational Copies Released

The DOL’s EBSA, the IRS, and the PBGC jointly released the 2022 Form 5500, Annual Return/Report of Employee Benefit Plan, and the 2022 Form 5500-SF, Short Form Annual Return/Report of Small Employee Benefit Plan.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Contribution Plan

DOL

Legislative updates

Deadline Relief for New York Severe Winter Storm and Snowstorm

The IRS has announced the postponement of certain tax-related deadlines for victims of severe winter storm and snowstorm in New York.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Contribution Plan

Physical Presence Relief for Retirement Plan Consents Set to Expire

Earlier this year, the IRS issued Notice 2022-27, further extending temporary relief from the physical presence requirements for certain elections.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Contribution Plan

Deadline Relief for Illinois Victims of Severe Storms

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storm and flooding in Illinois.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Contribution Plan

IRA

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