Safe Harbors Internal Revenue Service

News & Analysis as of

IRS Provides New 409A Guidance; New Proposed Regulations Provide Additional Clarity, Warn of Abusive Practices, and Present...

In Depth - Additional flexibility to use Section 409A exemptions - ..Expanded availability of the rules for transaction-based compensation for stock rights and incentive stock options. The final regulations allow...more

IRS Issues Updated Notice Regarding Safe Harbor for Transfers of Property to Regulated Public Utilities by Electricity Generators

In Depth - On June 10, 2016, the Internal Revenue Service (IRS) issued Notice 2016-36 (the Notice), updating the safe harbor (Safe Harbor) regarding transfers of property from an electricity generator to a regulated...more

Energy Tax Law Alert: IRS Expands Safe Harbor for Transfers of Property to Transmission Providers

The IRS on June 10 issued Notice 2016-36, which expands a safe harbor allowing certain transfers of property to regulated public utilities to be treated as nontaxable contributions of capital to a corporation, rather than as...more

IRS modifies and extends continuity safe harbor, clarifies other guidance for production tax credit eligibility

The IRS has released Notice 2016-31, which extends and modifies the “continuity safe harbor” for purposes of the “begun construction” requirement applicable to the renewable electricity production tax credit (PTC) under §45...more

Renewable Energy Tax Credits: Recent IRS Notice Favorable to the Renewable Energy Industry

On May 5, 2016, the IRS released new guidance regarding the renewable energy production tax credit (“PTC”) and energy investment tax credit (“ITC”) which most in the renewable energy industry will find favorable. ...more

IRS Modifies Continuity Requirement and Clarifies Other Guidance for Production Tax Credit Eligibility

On May 5, 2016, the IRS released Notice 2016-31 to update and clarify prior IRS guidance concerning satisfaction of the “begun construction” requirement for production tax credit (“PTC”) eligibility under recently extended...more

New Production Tax Credit “Beginning of Construction” Advice From the IRS

The IRS recently issued Notice 2016-31, providing further guidance regarding the “beginning of construction” requirement for the production tax credit (PTC) under Section 45 of the Internal Revenue Code and the investment tax...more

IRS Issues Guidance on Beginning of Construction Rules for Renewable Projects

On May 5, 2016, the Internal Revenue Service (IRS) issued Notice 2016-31, providing guidance on meeting the beginning of construction requirements for wind and other qualified facilities (including biomass, geothermal,...more

IRS Issues Additional Guidance on “Begun Construction” Requirement for Wind Energy Credits

Latest guidance extends “continuity safe harbor” to four years and includes other taxpayer-friendly modifications and clarifications to existing guidance. On May 5, 2016, the Internal Revenue Service (IRS) issued...more

After Extension, IRS Clarifies "Begun Construction" Guidance for PTCs

Following last year's extension of the investment tax credit for qualifying projects for which construction begins prior to January 1, 2020, and of the production tax credit (PTC) with respect to certain facilities the...more

IRS Issues New Notice Extending Beginning of Construction Safe Harbor

On May 5, 2016, the IRS issued Notice 2016-31 (the “Notice”) which revises previous guidance on satisfying the “beginning of construction” test in order to take advantage of the section 45 renewable electricity production tax...more

IRS Updates Beginning of Construction Guidance for Renewable Energy Tax Credits Extended by PATH Act

On May 5, 2016, the Internal Revenue Service (IRS) issued Notice 2016-31, which updates prior guidance regarding the beginning of construction requirement for IRC sections 45 and 48 renewable energy tax credits following...more

Employee Benefits Developments - March 2016

Previously, many advisors had been concerned that the Internal Revenue Service (IRS) regulations on safe harbor plan designs covering 401(k) and 403(b) plans may have severely limited the abilities of plan sponsors to adopt...more

IRS Expands Ability of Safe Harbor Plan Sponsors to Make Mid-Year Changes

The Internal Revenue Service (IRS) recently issued Notice 2016-16, which provides safe harbor 401(k) plan sponsors with increased flexibility to make mid-year plan changes. Notice 2016-16 sets forth new rules for when and...more

New ACA Guidance Warrants Another "Checkup" of Employer Health Plans

On December 16, 2015, the IRS issued Notice 2015-87 (the "Notice"), which provides "question-and-answer" guidance regarding how various Affordable Care Act (the "ACA") provisions apply to employer-provided group health plans....more

Is Your 401(k) Safe Harbor Plan Amendment Really Safe?

Finally, the IRS has made it clear that a 401(k) safe harbor plan may be amended during a plan year, with certain restrictions, and not lose its safe harbor status, in IRS Notice 2016-16 (the "Notice")....more

New Guidance From IRS Provides Mid-Year Changes To Safe Harbor 401(k) Plans

Prior to the Internal Revenue Services' (IRS) recent issuance of Notice 2016-16 (the Notice), employers that sponsored safe harbor 401(k) retirement plans were uncertain about whether any mid-year changes to their plans would...more

At Last . . . My Safe Harbor Guidance Has Come Along

At last . . . the Internal Revenue Service (IRS) finally provides mid-year safe harbor guidance. Etta James’s legendary cover of that song is fitting considering the many years that employers have waited to receive this...more

Good News from the IRS on 401(K) Safe Harbor Plans

Safe harbor 401(k) plans are attractive because they are not required to perform annual nondiscrimination testing. In the past, one of the biggest reasons not to offer a safe harbor 401k) plan was the prohibition on changing...more

The Rosenbaum Law Firm Review - February 2016

The Complete And Total Worthlessness Of The 401(k) Fiduciary Warranty - I am a firm believer in the idea that what you see is what you should get. If you’re promised the moon, anything short of it is wrong. Some of the...more

IRS Announces that Mid-Year Amendments to Safe Harbor Plans Generally Are Allowed

In January 2016, the IRS released Notice 2016-16, announcing the general permissibility of mid-year amendments to “safe harbor” 401(k) plans. Safe harbor plans covered by the Notice include those using a traditional safe...more

The IRS Significantly Increased the Availability of Mid-Year Changes to Safe Harbor Plans

Mid-year changes to safe harbor 401(k) plans have long been thought to be available in only very limited circumstances.  However, the IRS recently released guidance in Notice 2016-16 that significantly increases the scope of...more

IRS approves most mid-year changes to safe harbor plans

On January 29, 2016, the IRS issued guidance that will be of great interest to any employer sponsoring a safe harbor plan. In Notice 2016-16, the IRS approves nearly all mid-year amendments to a safe harbor plan, provided...more

IRS Allows Mid-Year Changes, Further Encouraging Safe Harbor Plans

The IRS has issued new guidance giving sponsors of Safe Harbor 401(k) plans much greater flexibility to amend their plans during a plan year. This is welcome relief from the previous IRS position that had hobbled such plans....more

IRS Issues Proposed Regulations Regarding Applicability of Normal Retirement Age to Governmental Pension Plans

In a change that would impact government employers with retirement plans, the IRS has proposed a rule to address whether the normal retirement age under a governmental plan satisfies the requirements to preserve...more

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