defined contribution plan

Retirement Plan Disaster Assistance May Be Available for California Tropical Storm Hilary

The Federal Emergency Management Agency issued a disaster declaration on October 18, 2023, for California Tropical Storm Hilary, for the incident period of August 19 – August 21, 2023.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

Defined Benefit Plan

IRS Announces Additional Deadline Relief for California Winter Storms

The IRS has announced an additional postponement of certain tax-related deadlines for victims of severe winter storms beginning on March 9, 2023, January 8, 2023, and December 27, 2022.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Contribution Plan

Defined Benefit Plan

IRA

HSA

Disaster Distribution Proposal Introduced in House

Representative Jill Tokuda (D-HI) has introduced HR 5873, the Natural Disaster Tax Relief Act of 2023.

FuturePlan ERISA Team

Legislative updates

Defined Contribution Plan

IRA

IRS Announces Applicable Federal Rates for November 2023

The IRS has issued Revenue Ruling 2023-20, which contains the applicable federal rates (AFR) for November 2023.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Contribution Plan

IRA

Deadline Relief for Affected Taxpayers in Israel, the West Bank, and Gaza

The IRS has announced, in Notice 2023-71, the postponement of certain tax-related deadlines for taxpayers affected by the October 7, 2023, terroristic action in the State of Israel.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Benefit Plan

Defined Contribution Plan

IRA

Disaster Assistance May Be Available for Montana Flooding

The Federal Emergency Management Agency issued a disaster declaration on October 11, 2023, for Montana flooding for the incident period of June 1 – June 8, 2023.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

Defined Benefit Plan

DOL Issues Advisory Opinion Regarding Investment Management Fees

The Department of Labor has responded to fiduciary responsibility questions from Citigroup Inc. (Citi) related to their Racial Equity Asset Manager Program.

FuturePlan ERISA Team

DOL

Defined Contribution Plan

Fiduciary Issues

Disaster Assistance May Be Available for Vermont Severe Storms and Flooding

The Federal Emergency Management Agency issued a disaster declaration on October 6, 2023, for Vermont severe storms and flooding.

FuturePlan ERISA Team

Legislative updates

Defined Contribution Plan

Deadline Relief for Seawater Intrusion in Parts of Louisiana

The IRS has announced the postponement of certain tax-related deadlines for victims of seawater intrusion in parts of Louisiana.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Benefit Plan

Defined Contribution Plan

IRA

IRS Updates Several Model VCP Compliance Forms

In a recent issue of the Employee Plans News, the IRS has announced the update of several forms used to submit Voluntary Correction Program applications to the IRS.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Contribution Plan

Defined Benefit Plan

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