DOL Temporarily Extends Non-Enforcement Relief for Investment Advice Fiduciaries
On October 25, 2021, the U.S. Department of Labor (“DOL”) issued Field Assistance Bulletin (“FAB”) 2021-02 , temporarily extending its non-enforcement policy regarding certain rules […]
IRS RELEASES 2022 ADJUSTED DOLLAR LIMITATIONS FOR 401(k) PLANS
On November 4, 2021, the IRS released its annual notice, Notice 2021-61, setting forth the various dollar limitations for contributions and benefits under qualified retirement […]
401(k): IRS Extends Interim Amendment Deadline for Preapproved 401(k) Plans
On September 1, 2021, the IRS issued Revenue Procedure (“Rev. Proc.”) 2021-38 which revises and updates the procedure for amending preapproved 401(k) plans to comply […]
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 […]