ERISA News

The Internal Revenue Service has posted a draft 2026 tax year Form 8889, Health Savings Accounts (HSAs). Taxpayers file Form 8889 to report HSA contributions and associated tax deductions, HSA distributions, and any tax or penalty tax owed for distributions not used for qualified medical expenses.

The Internal Revenue Service (IRS) has posted draft Instructions for Form 5498-TA, Trump Account Contribution Information. This form must be filed with the IRS and furnished to the account beneficiary for each Trump account a custodian maintains during the calendar year as shown on the form, for any calendar year during the growth period for the account beneficiary. 

The Internal Revenue Service (IRS) has announced the postponement of certain tax-related deadlines for individuals and businesses in parts of Southeast Georgia that were affected by wildfires and straight-line winds that began on April 18, 2026. The tax relief postpones various tax filing deadlines that began on April 18, 2026. Affected individuals and households who reside or have a business in Clinch, Echols and Brantley counties, as well as taxpayers with records located in the covered area that are needed to meet covered deadlines, qualify for relief.

The Securities and Exchange Commission (SEC) has issued a staff interpretation that addresses the use of collective investment trusts (CITs) in pooled employer plans (PEPs).

The Internal Revenue Service has announced the postponement of certain tax-related deadlines for victims of Super Typhoon Sinlaku until November 2, 2026. The tax relief postpones various tax filing deadlines that began on April 11, 2026. Affected individuals and households who reside or have a business in Northern Islands, Rota, Saipan and Tinian, as well as taxpayers with records located in the covered area that are needed to meet covered deadlines, qualify for relief.

President Trump has issued an Executive Order that will establish a marketplace website for private-sector IRAs to provide a solution for workers without access to an employer-sponsored retirement plan. The order directs Treasury to launch TrumpIRA.gov by January 1, 2027, highlighting IRA providers that accept Saver's Match contributions, provide investment options including life-cycle or target date funds, balanced funds, and funds maintaining principal, with low fees (overall net-expense ratios limited to .15 percent) and no minimum contribution requirement. 

Senators Bill Cassidy (R-LA) and Jim Banks (R-IN) have introduced the Investigation Status and Governance for Honest Transparency (INSIGHT) Act. According to a press release, the bill would require the Employee Benefits Security Administration (EBSA) to do the following.

The Internal Revenue Service has released Notice 2026-27, updating the static mortality tables for defined benefit plans for 2027. This guidance is issued pursuant to Treasury Regulation 430(h)(3)(A) and is applicable for purposes of calculating the funding target and other items for valuation dates occurring during the 2027 calendar year.

Senator Doc Marshall (R-KS) has introduced S. 4353, the Health Savings Account Expansion Act.

A bill re-introduced by Representative Bryan Steil (R-WI), titled the Protecting Americans' Retirement Savings From Politics Act, has cleared the House Financial Services Committee by a vote of 27-24.