News & Analysis as of

IRS updates determination letter request forms

In December of 2013, the IRS released new final versions of the Form 5300 and the Form 5310, forms which are used by individually designed retirement plans to request a determination as to the plan’s tax qualification status....more

IRS Provides Guidance on Retroactivity of DOMA Decision for Qualified Retirement Plans

The Internal Revenue Service (IRS) recently issued Notice 2014-19 and related answers to FAQs, which give plan sponsors additional guidance on how the Supreme Court's decision last June in U.S. v. Windsor applies...more

Employee Plans Compliance Resolution System – Q&A #2

If an employer unintentionally fails to comply with the qualification requirements of the Internal Revenue Code with respect to its qualified plan, the employer may be able to avoid disqualification of the retirement plan if...more

QDROs For Unmarried Cohabitants?

Sponsors of qualified retirement plans know that, generally speaking, plan benefits cannot be taken from a participant through legal process or otherwise be assigned to anyone other than the participant. There is an exception...more

Rollover Contributions: What Plan Administrators Need to Know

Retirement plan administrators routinely receive requests from employees to accept rollover contributions of amounts held in a prior employer’s qualified plan or, in some cases, an IRA. When processing these requests, plan...more

New IRS Guidance Regarding Same-Sex Spouses: Employer Action Needed

On June 26, 2013, the U.S. Supreme Court, in the landmark case, United States v. Windsor, found the provisions of that portion of the “Defense of Marriage Act” (“DOMA”) which provided that only opposite-sex individuals could...more

IRS Issues Same-Sex Marriage Guidance for Retirement Plans

The IRS has issued guidance on the application of the Supreme Court’s 2013 decision regarding same-sex marriage to qualified retirement plans. In United States v. Windsor, the Supreme Court struck down the section of the...more

New IRS Guidance Relating to Same-Sex Spouses and Qualified Retirement Plan Benefits

Shortly after the U.S. Supreme Court ruled (in U.S. v. Windsor) that Section 3 of the federal Defense of Marriage Act (DOMA) was unconstitutional, the IRS announced that same-sex marriages will be recognized for federal tax...more

IRS Issues Windsor Guidance For Qualified Retirement Plans

The IRS has issued Notice 2014-19, which provides anticipated guidance for sponsors of qualified retirement plans on complying with last year's Supreme Court ruling in United States v. Windsor. That decision deemed...more

Tax Alert: Attention Employers Using Pre-Approved Retirement Plans – It’s Amendment Time Again!

Do you sponsor a tax-qualified retirement plan that was pre-approved by the IRS? If so, pre-approved documents take one of two forms. - One is a prototype plan that uses a checklist-type Adoption Agreement and is...more

Do Your Qualified Retirement Plans Recognize Same-Sex Spouses as of June 26, 2013?

The IRS has published Notice 2014-19 and related FAQs regarding the application of the Supreme Court’s decision in United States v. Windsor and Rev. Ruling 2013-17 to qualified retirement plans. All retirement plans should be...more

Filling In The Retirement Plan Gaps For Same-Sex Couples—What It Means For Your Retirement Plan

Employers and participants alike have been anxiously waiting for further guidance from the Internal Revenue Service (IRS) on how marriages of same-sex couples will be treated for purposes of qualified retirement plans....more

IRS Releases Further Guidance for Retirement Plans on Treatment of Same-Sex Spouses

In IRS Notice 2014-19 and accompanying FAQs, the Internal Revenue Service (“IRS”) issued long-awaited guidance addressing the treatment of same-sex spouses under qualified retirement plans such as 401(k) and defined benefit...more

IRS Issues Guidance on Recognition of Same-Sex Marriage Under Tax-Qualified Retirement Plans

On April 4, 2014, the Internal Revenue Service issued Notice 2014-19 providing guidance on the application of the U.S. Supreme Court’s decision in United States v. Windsor (“Windsor”) to tax-qualified retirement plans (such...more

IRS Offers Two New Due Diligence Safe Harbor Procedures for Accepting Rollovers into Qualified Plans

On April 3, 2014, the Internal Revenue Service released Revenue Ruling 2014-9 (the Ruling), which provides guidance helpful to the administration of rollovers by tax-qualified retirement plans by...more

IRS Issues Windsor Guidance for Qualified Retirement Plans

On April 4, 2014, the IRS released Notice 2014-19, providing guidance on the application of United States v. Windsor to qualified retirement plans. The Notice is the third significant piece of guidance issued by the IRS on...more

Good News for Employers: IRS Simplifies Rollover Validation Process

To simplify the rollover validation process, the Internal Revenue Service (IRS) has issued a new Revenue Ruling 2014-9 that provides guidance on the process for a trustee-to-trustee tax-free rollover between tax-qualified...more

Tax Court Stingier Than IRS

Generally, amounts received by an IRA distributee are included in gross income. However, Code Sec. 408(d)(3)(A) avoids gross income if the distributee contributes the received amounts to an IRA, individual retirement annuity,...more

The New, New (EPCRS Voluntary Correction) Thing: 457(b) Plans

The IRS’s Employee Plans Compliance Resolution System (or “EPCRS”) permits corrections, both voluntary and on audit, of a broad range of “qualification failures” — i.e., violations of sometimes arcane and complex tax rules —...more

Have You Told The IRS That Your “Responsible Party” Has Changed?

Beginning on January 1, 2014, any entity with an employer identification number (EIN) issued by the Internal Revenue Service (IRS) must report a change in the identity or address of its “responsible party” within 60 days of...more

December 2013 and January 2014 Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties and excise taxes. To...more

IRS Guidance On Same-Sex Marriage: Employee Benefit Considerations

In response to the Supreme Court decision in United States v. Windsor, 133 S. Ct. 2675 (2013), the Internal Revenue Service issued Revenue Ruling 2013-17 (Ruling) on August 29, 2013, in which the IRS set forth the following...more

The Treasury Department and the IRS Implement Windsor and Adopt “State of Celebration” Rule: Compensation and Benefits...

On August 29, 2013, the Treasury Department and the IRS issued Revenue Ruling 2013-17 (“Rev. Rul. 2013-17”) and updated Answers to Frequently Asked Questions for Individuals of the Same Sex Who Are Married Under State Law...more

Agencies Issue Guidance on Same-Sex Marriage Impacting Employee Benefits

On June 26, 2013, the United States Supreme Court, in United States v. Windsor, held that Section 3 of the Defense of Marriage Act (“DOMA”) is unconstitutional as a deprivation of the equal liberty of persons that is...more

IRS Releases Updated Retirement Plan Correction Procedures

The IRS recently released the long-awaited updated version of the Employee Plans Compliance Resolution System (EPCRS), Revenue Procedure 2013-12. EPCRS allows the sponsor of a tax-deferred retirement plan to voluntarily...more

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