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IRS Expands Self-Correction Procedures, but Eliminates Anonymous Voluntary Correction Program

USA - July 21 2021 The Internal Revenue Service (IRS) made important changes to the Employee Plans Compliance Resolution System (EPCRS) in Revenue Procedure 2021-30…

Claire Bouffard.

IRS Again Extends Temporary Relief from ‘Physical Presence’ Requirement for Certain Retirement Plan Elections

USA - June 25 2021 The IRS issued Notice 2021-40 (the Notice) on June 24 that provides a 12-month extension (until June 30, 2022) of the temporary relief from the…

Hengyang Ding, Matthew H. Hawes.

‘Securing’ Your Safe-Harbor Plan: IRS Provides Guidance on SECURE Act Changes Affecting Safe-Harbor Plans

USA - January 11 2021 Notice 2020-86 (Notice) from the Internal Revenue Service (IRS) provides guidance to help interpret and apply certain Setting Every Community Up for…

Gaeun Yoo, Lisa H. Barton, Matthew H. Hawes.

Defined Contribution Lifetime Income Illustrations Required After September 18, 2021

USA - September 22 2020 The US Department of Labor (DOL) published in the September 18 Federal Register its Interim Final Rule (Rule) to implement “lifetime income…

Hengyang Ding, Matthew H. Hawes, William J. Marx.

DOL Issues Interim Final Rule on Lifetime Income Illustrations

USA - August 31 2020 The US Department of Labor issued an Interim Final Rule on August 18 to implement “lifetime income illustrations,” which must be provided to defined…

Hengyang Ding, Matthew H. Hawes, William J. Marx.