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! […]
401(k) Plans: They’re Back! Required Minimum Distributions Resume for 2021
The Coronavirus Aid, Relief, and Economic Security Act of 2020 (“CARES Act”) contained a number of provisions directly relating to 401(k) retirement plans. (See our […]
2021 Penalty Amounts for 401(k) Plans
On January 14, 2021, the U.S. Department of Labor (“DOL”) published its annual announcement of civil monetary penalties for various employee benefits-related violations under ERISA, […]
IRS Guidance on Secure Act Auto-Enrollment and Safe Harbor Plan Changes
On December 9, 2020, the Internal Revenue Service (“IRS”) issued question-and-answer guidance (Notice 2020-86) regarding certain changes to safe harbor 401(k) plans and auto-enrollment arrangements […]
IRS Releases Final Regulations on Rollovers of 401(k) Qualified Plan Loan Offsets
On December 7, 2020, the Internal Revenue Service (“IRS”) issued its final regulations addressing rollovers of qualified retirement plan (particularly 401(k) plan) loan offset amounts. […]
Coronavirus-Related Distributions Quickly Coming To An End
IRS RELEASES DRAFT FORM 8915-E IMPORTANT! The CARES Act provisions regarding “coronavirus-related distributions” are currently set to expire on December 31, 2020. Therefore, participants who […]
2020 Required Amendments Have Little Impact on 401(k) Plans
On November 20, 2020, the IRS released Notice 2020-83 (Required Amendments List for Qualified Retirement Plans and § 403(b) Retirement Plans), its annual list of […]
401(k): IRS Releases 2021 Adjusted Dollar Limits
On October 26, 2020, the IRS released its annual notice, Notice 2020-79, setting forth the various dollar limitations for contributions and benefits under qualified retirement […]
Time Is Running Out for Expanded 401(k) Loans Under CARES Act
URGENT! The expanded 401(k) plan loan provisions included in the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act are quickly coming to an end! The […]