News & Analysis as of

Retirement Plan › Unclaimed Property

Morgan Lewis - ML Benefits

DOL Issues Temporary Enforcement Policy for Small Amount Transfers to State Unclaimed Property Funds

Morgan Lewis - ML Benefits on

The US Department of Labor recently issued Field Assistance Bulletin (FAB) 2025-01, a temporary enforcement policy regarding the transfer of small retirement plan benefits to state unclaimed property funds. This development...more

Alston & Bird

Department of Labor’s Temporary Policy Allows Voluntary Escheatment of Certain Retirement Benefits

Alston & Bird on

In this article, the authors delve into the Department of Labor’s temporary ERISA enforcement policy for unclaimed retirement benefit payments of $1,000 or less. The Department of Labor (DOL) has announced a temporary...more

Keating Muething & Klekamp PLL

Benefits Monthly Minute - February 2025

Keating Muething & Klekamp PLL on

The February Monthly Minute highlights a new online ACA reporting alternative, the DOL’s temporary policy regarding escheatment of small retirement benefits owed to missing participants, and new guidance clarifying the gag...more

Jackson Lewis P.C.

Missing Participants – New State Unclaimed Property Fund Option for Small Balances

Jackson Lewis P.C. on

On January 14, 2025, the DOL issued Field Assistance Bulletin (FAB) 2025-01, providing sponsors and administrators of ongoing defined contribution plans with a new option for missing participant balances of $1,000 or less:...more

Alston & Bird

Department of Labor's Temporary Policy Allows Voluntary Escheatment of Certain Retirement Benefits

Alston & Bird on

Our Unclaimed Property and Employee Benefits & Executive Compensation teams delve into the Department of Labor’s temporary ERISA enforcement policy for unclaimed retirement benefit payments of $1,000 or less....more

Alston & Bird

FAQs on Unclaimed Property Aspects of Retirement Assets

Alston & Bird on

Our Unclaimed Property Team has created FAQs to stimulate review of the numerous challenges associated with the potential escheatment of traditional IRAs and other tax-advantaged retirement assets....more

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

Dealing With Missing Participants in Terminating Puerto Rico 401(k) Plans

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

For a host of legal and practical reasons, the only feasible alternative for disposing of the accounts of missing participants in a terminating 401(k) or other defined contribution retirement plan qualified only in Puerto...more

Miles & Stockbridge P.C.

Withholding and Reporting of Payments to an Unclaimed Property Fund

Miles & Stockbridge P.C. on

Sometimes, a retirement plan is required to distribute a missing participant’s account balance into a state’s unclaimed property fund. Until recently, it was unclear whether this distribution is subject to withholding of...more

Faegre Drinker Biddle & Reath LLP

IRS Issues Guidance on Missing Participants and State Unclaimed Property Funds

Faegre Drinker Biddle & Reath LLP on

In October 2020, the IRS issued two pieces of guidance addressing (1) the tax withholding and reporting of distributions from qualified retirement plans to state unclaimed property funds, and (2) the ability of taxpayers to...more

Troutman Pepper Locke

Private Clients Update - Volume 2018, Issue 1

Troutman Pepper Locke on

Year-End Reminders For 2018, the estate, gift and generation-skipping transfer tax exemption is $11.18 million per person ($22.36 million for a married couple). ...more

Ballard Spahr LLP

Pennsylvania Tax Changes and Tax Amnesty Program

Ballard Spahr LLP on

As part of the budget package, the Pennsylvania General Assembly made many significant changes to various Pennsylvania tax laws and the unclaimed property law (including a tax amnesty program) that are estimated to generate...more

11 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide