News

Deadline Relief for Alaska Victims of Severe Storm, Flooding, and Landslides

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

FuturePlan ERISA Team

IRS Guidance

IRA

Defined Contribution Plan

IRS Posts Form 4972

The IRS has posted Form 4972, Tax on Lump-Sum Distributions, for tax year 2022.

FuturePlan ERISA Team

IRS

IRS Extends Remedial Amendment Period for CARES Act and Taxpayer Certainty and Disaster Tax Relief Act

The IRS issued Notice 2022-45 which extends the deadline for amendments to retirement plans and IRAs to adopt some provisions relating to distributions and loans under the CARES Act and the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (Relief Act).

FuturePlan ERISA Team

IRS Guidance

Financial Advisors: Don’t Ask For a Referral – Do This Instead

Four Steps to Fire Up Your Referral Pipeline – Without Asking for Referrals

Practice Management

Federal Prime Interest Rate Increased to 6.25 Percent

Effective September 21, 2022, the Federal prime interest rate increased from 5.50 percent to 6.25 percent.

FuturePlan ERISA Team

Defined Contribution Plan

DOL

IRS Announces Applicable Federal Rates for October 2022

The IRS has issued Revenue Ruling 2022-18, which contains the applicable federal rates (AFR) for October 2022.

FuturePlan ERISA Team

IRS

PBGC Issues Interest Rate Assumptions for DB Plans

The PBGC has issued updated interest rate assumptions for benefit payments in terminating single-employer defined benefit (DB) pension plans.

FuturePlan ERISA Team

Legislative updates

Defined Benefit Plan

IRS Releases Draft 2023 Form W-4R

The IRS has posted a draft 2023 Form W-4R, Withholding Certificate for Nonperiodic Payments and Eligible Rollover Distributions.

FuturePlan ERISA Team

IRS

Updated Yield Curves and Segment Rates for DB Plans

The IRS has issued Notice 2022-40, 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

Deadline Relief for Puerto Rico Victims of Hurricane Fiona

The IRS has announced the postponement of certain tax-related deadlines for victims of hurricane Fiona in Puerto Rico.

FuturePlan ERISA Team

Defined Contribution Plan

IRS

IRS Guidance

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