News & Analysis as of

Retirement Plan Internal Revenue Service Final Rules

Laner Muchin, Ltd.

IRS Finalizes Required Minimum Distribution Regulations

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The IRS recently published its final regulations addressing changes to Tax Code Section 401(a)(9), relating to required minimum distributions (RMDs), under the Setting Every Community Up for Retirement Enhancement Act of 2019...more

Farrell Fritz, P.C.

IRS Issues Final Regulations Regarding Required Minimum Distributions (RMDs) from Retirement Accounts

Farrell Fritz, P.C. on

On July 18th, the Internal Revenue Service released final regulations regarding required minimum distributions (RMDs) from retirement accounts. The final regulations reflect changes to the Internal Revenue Code made by the...more

Polsinelli

New Form 5500 Rules Permit More Plans to Qualify for Audit Exemption

Polsinelli on

The Department of Labor, Internal Revenue Service, and Pension Benefit Guaranty Corporation recently issued final rules on employee benefit plan annual reporting requirements that are effective for plan years beginning on or...more

Groom Law Group, Chartered

Recent IRS Guidance Focuses on Rules for Qualified Foreign Pension Funds

At the end of 2022, the Department of the Treasury and the Internal Revenue Service (together, the “IRS”) issued two sets of guidance – a final rule and a proposed rule – addressing the application of certain provisions of...more

Groom Law Group, Chartered

DOL Finalizes Significant Form 5500 Changes for 2023 Year

On February 24th, the Employee Benefits Security Administration, Internal Revenue Service, Treasury, and Pension Benefit Guaranty Corporation (together, “the Agencies”) released Final forms revisions and Final Rules related...more

McDermott Will & Emery

Weekly IRS Roundup December 12 – December 16, 2022

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 12, 2022 – December 16, 2022...more

Perkins Coie

Employee Benefit Plan Developments—2020 Year in Review

Perkins Coie on

Employee benefits professionals have faced many challenges in 2020. We have seen remarkable changes to state and local requirements, an onslaught of new benefits legislation and governmental policies, shifting reporting and...more

Fisher Phillips

New Benefit Plan Deadline Extensions Provide Opportunities For Participants – And Burdens For Plan Sponsors

Fisher Phillips on

The Department of Labor (DOL), in coordination with the IRS and the Treasury Department, recently issued new rules extending key deadlines for health, retirement, and welfare plans subject to ERISA and the Internal Revenue...more

Snell & Wilmer

IRS Publishes 2019 Required Amendments List

Snell & Wilmer on

In our 2019 End of Year Plan Sponsor “To Do” List (Part 3) Qualified Plans, we suggested that sponsors of all qualified retirement plans should be on the lookout for the Internal Revenue Service’s (“IRS”) 2019 Required...more

Snell & Wilmer

IRS Issues Final Regulations for Hardship Distributions

Snell & Wilmer on

We previously reported on the Bipartisan Budget Act (the “Budget Act”) hardship distribution rule changes for qualified retirement plans. On September 23, 2019, the IRS issued final regulations implementing certain statutory...more

Verrill

Final Regulations on 401(k) Hardship Withdrawals

Verrill on

In September, the Treasury Department issued final regulations governing hardship withdrawals from 401(k) plans. The final regulations update the existing 2004 regulations to reflect recent statutory changes made to the...more

McDermott Will & Emery

Smarter and Not Harder: The New IRS Hardship Distribution Regulations

McDermott Will & Emery on

The Treasury Department and the IRS recently finalized new hardship distribution rules applicable to defined contribution plans. Plan sponsors should prepare for operational changes to comply with the new regulations,...more

Bricker Graydon LLP

401(k) and 403(b) plans must be updated January 1, 2020

Bricker Graydon LLP on

The IRS recently issued final regulations to standardize the administration of hardship distributions. Plans that permit hardship distributions must implement operational changes for hardship distributions by January 1, 2020,...more

Laner Muchin, Ltd.

IRS Finalizes Hardship Distribution Regulations For Qualified Retirement Plans

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Earlier this year, we summarized proposed Treasury regulations and the Bipartisan Budget Act of 2018, which made changes to the rules governing hardship distributions from 401(k) and 403(b) plans....more

Troutman Pepper

Final Regulations Issued for Hardship Distributions From Qualified Retirement Plans

Troutman Pepper on

As we wrote in November 2018, the Treasury Department issued proposed regulations that significantly relaxed many rules governing hardship distributions from qualified plans, including eliminating requirements that employee...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Final IRS Regulations for Hardship Distributions Incorporate a Decade of Legislative Changes

On September 23, 2019, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) published final regulations that modify the hardship distribution rules for profit sharing, 401(k), 403(b), and eligible...more

Stinson - Benefits Notes Blog

IRS Final Regulations Amend Hardship Distribution Rules for 401(k) and 403(b) Plans

On September 23, 2019 the Internal Revenue Service (“IRS”) issued final regulations amending the rules for hardship distributions from 401(k) and 403(b) plans (the “Final Regulations”)....more

Burr & Forman

With Limited IRS Extension, Plan Sponsors Should Review Their 403(b) Plan Documents

Burr & Forman on

Generally, a 403(b) plan is a retirement planning program whereby a public school or tax-exempt 501(c)(3) organization (including churches) makes contributions for their employees (and certain ministers) to specific types of...more

Foley & Lardner LLP

Final Regulations on Hardship Distributions: Not Much New News is Good News

Foley & Lardner LLP on

If your company sponsors a 401(k) or 403(b) plan that allows participants to take hardship distributions, you probably had a conversation with your plan recordkeeper last year about changes to the rules on hardship...more

Dechert LLP

Reducing Administrative Hardship – IRS Releases Final Regulations Relating to Hardship Distributions for Section 401(k) Plans

Dechert LLP on

The Internal Revenue Service (the “IRS”) issued final regulations, effective September 23, 2019 (the “Final Regulations”), that modify the hardship distribution rules for plans established under Section 401(k) of the Internal...more

Ballard Spahr LLP

U.S. Treasury Changes 401(k) and 403(b) Hardship Withdrawal Rules

Ballard Spahr LLP on

The U. S. Department of the Treasury recently issued final regulations governing hardship distributions from 401(k) and 403(b) retirement savings plans....more

Proskauer - Employee Benefits & Executive...

Final Hardship Distribution Regulations, Part One: Key Changes and Deadlines for Plan Sponsors

Last week, the Department of Treasury and the IRS issued final regulations regarding hardship distributions from 401(k) and 403(b) plans. The final regulations respond to comments based on earlier proposed regulations and...more

Laner Muchin, Ltd.

Washington Working To Expand Multiple Employer Retirement Plan Options

Laner Muchin, Ltd. on

The Department of Labor published final regulations on July 31, 2019, making it easier for multiple employers to band together to sponsor a single retirement plan (i.e., a multiple employer plan or MEP), thereby reducing the...more

King & Spalding

Compensation and Benefits Insights – September 2016

King & Spalding on

New Guidance Affects Wellness Program Design - Over the last several months, the Equal Employment Opportunity Commission (“EEOC”) and the Internal Revenue Service (“IRS”) have provided additional guidance regarding the...more

Winstead PC

Might You Be Stumbling Into Being Subject to the U.S. Department of Labor’s Conflict of Interest Regulatory World?

Winstead PC on

The U. S. Department of Labor’s Conflict of Interest regulatory package (the “COI Rules”) reaches far more than traditional trustees named in retirement plan documents. Many financial advisors, tax advisors, investment...more

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