IRS Seeks More Forms 5500 Information
The IRS has published a notice offering the opportunity to comment on proposed changes to the information the agency collects on Form 5500, Form 5500-SF, and Form 5500-EZ.
IRS Issues Multi-Subject SECURE Act Q&A Guidance
The IRS has issued Notice 2020-68, guidance in question-and-answer (Q&A) format on provisions of legislation enacted in December 2019 in the SECURE Act.
IRS Expands Circumstances for Extending Discretionary Amendment Deadlines
The IRS has issued Revenue Procedure 2020-40, which makes a minor modification to Revenue Procedures 2016-37 and 2019-39.
Lifetime Income Disclosures: A New Requirement for Pension Benefit Statements
The SECURE Act requires ERISA-covered plans to disclose an estimated monthly payment that participants could receive in a lifetime income stream.
DOL Rule Issued in Response to 2019 Executive Order
The DOL issued a final rule to formalize its policy and requirements for issuing, modifying, withdrawing, and using DOL guidance, and for making guidance available to the public.
Public Hearing on Proposed Investment Advice Prohibited Transaction Exemption Set
The EBSA has announced a September 3 public hearing on the Improving Investment Advice for Workers and Retirees exemption.
Proposed Regulations Issued on Pooled Plan Provider Registration
The EBSA has issued proposed regulations on registration requirements for entities that will function as "pooled plan providers", or PEPs, for retirement plans.
Qualified Plan Loan Offset Rollover Rules Proposed by IRS
The IRS has released a notice of proposed rulemaking that takes into account changes made by the TCJA related to rollover rules for qualified plan loan offset (QPLO) amounts.
DOL Releases Lifetime Income Disclosure Rule
The DOL announced an interim final rule that prescribes how retirement plans are to provide lifetime income information to savers.
New Fees in 2021 for Certain Determination and Letter Ruling Requests
In Announcement 2020-14, the IRS provides advance notice of fee increases for certain determination applications, effective January 4, 2021.
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