401(k): Updates to EPCRS Correction Programs Encourage Employers to Self-Identify, Correct Mishaps
On July 16, 2021, the IRS issued Revenue Procedure (“Rev. Proc.”) 2021-30, the most recent comprehensive official guidance concerning the IRS’s Employee Plans Compliance Resolution […]
401K: Physical Presence Relief for Elections and Consents
On June 24, 2021, the IRS issued Notice 2021-40 (“Notice”) which further extends the temporary relief from the “physical presence requirement” (see below) previously granted […]
401(k): IRS Releases Final Regs on Deadline Extensions for Federally Declared Disasters
On June 11, 2021, the IRS issued its Final Regulations on the subject of the mandatory, minimum 60-day postponement of certain tax-related deadlines due to […]
401(K): IRS Releases Updated Operational Compliance List, Includes Secure Act Changes
On April 27, 2021, the IRS posted on its website its most recent updated operational compliance list for qualified retirement plans, including 401(k) plans. The […]
401(k): CAA Expanded Loan and Withdrawal Provisions Differ from CARES Act
Earlier this year, in response to the passage of the Consolidated Appropriations Act of 2021 (“CAA”) on December 27, 2020, we provided information relative to […]
401(K): Deadline For Returning 2020 Excess Deferrals Remains April 15, 2021
On April 8, 2021, the IRS announced on the “Employee Plan News” section of its website that the deadline for returning excess deferrals made to […]
DOL’s Non-Enforcement Policy for 401(k) ESG Investments
On March 10, 2021, the U.S. Department of Labor (“DOL”) announced in an official statement that it will not enforce its recently issued regulations on […]
2020 Taxes: Did You Take a Coronavirus-Related Distribution from your 401(k)?
IMPORTANT! If you received a “coronavirus-related distribution” from your 401(k) plan during 2020, don’t forget to report this on your 2020 Federal income tax return! […]
New Administration, New Rules
With a new administration comes new rules. Executive actions have put some rules on hold while others remain in force. Watch our Associate General Counsel, […]