On July 26, 2021, the U.S. Internal Revenue Service (“IRS”) issued Notice 2021-46, providing additional guidance on the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) and premium assistance and tax credit...more
Seyfarth Synopsis: In two months (on March 31, 2020), the window closes for 403(b) plan sponsors to take advantage of the unique opportunity to retroactively amend their 403(b) retirement plans to correct document errors...more
1/24/2020
/ 401k ,
403(b) Plans ,
Amended Forms ,
Compensation & Benefits ,
Employee Benefits ,
Filing Requirements ,
IRS ,
Plan Documents ,
Regulatory Requirements ,
Retirement Plan ,
Statutory Requirements ,
Tax Code ,
Tax Exempt Entities ,
Tax Liability ,
Tax Planning
The Internal Revenue Service (IRS) and Department of Labor (DOL) issued temporary relief on deadlines and procedural requirements applicable to employee benefit plans for employers impacted by Hurricane Harvey.
...more
9/6/2017
/ 401k ,
403(b) Plans ,
457(b) Plans ,
COBRA ,
Defined Contribution Plans ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Contributions ,
Employer Group Health Plans ,
Form 5500 ,
Hardship Distributions ,
Hurricane Harvey ,
IRS ,
Natural Disasters ,
Reporting Requirements ,
Retirement Plan
Substantiation Requirement Clarified for Examination Purposes -
Over the past few years, employers and plan administrators have frequently asked how hardship withdrawal requests can/should be substantiated from 401(k)...more
On January 13, 2017, the IRS issued guidance setting March 31, 2020 as the last day of the remedial amendment period for 403(b) retirement plans.
A remedial amendment period is a time frame during which an employer can...more
It took only 9 years since first announcing its intention to issue regulations, but the IRS has finally issued proposed regulations for deferred compensation arrangements sponsored by tax-exempt and governmental employers. ...more