ERISA News

The Internal Revenue Service has issued updated Form 5498-ESA, Coverdell ESA Contribution Information, and correlating instructions.

The Federal Emergency Management Agency (FEMA) issued Major Disaster Declarations on January 23 and January 24 for the following states relative to winter storms.

Representative John McGuire (R-VA) has sponsored H.R. 7185, the Home Savings Act. According to a press release, the bill would permit penalty-free withdrawals from a defined contribution plan for a down payment or closing costs on a primary residence.

The Internal Revenue Service (IRS) has issued Notice 2026-09 (the Notice), extending the deadline to complete amendments under the SECURE 2.0 Act for individual retirement arrangements (IRAs).

The Internal Revenue Service has released the 2025 tax year Publications 590-B, Distributions from Individual Retirement Arrangements (IRAs). Publication 590-B explains the rules for receiving distributions from IRAs – including inherited IRAs – and penalties and taxes that apply when rules aren’t followed.

The Pension Benefit Guaranty Corporation (PBGC) has updated its regulation on Allocation of Assets in Single-Employer Plans, which prescribes actuarial assumptions—including an interest assumption—for valuing benefits under terminating single-employer plans covered by ERISA.

The Internal Revenue Service (IRS) has posted 2025 draft tax year Instructions for Form 990-T, Exempt Organization Business Income Tax Return (and Proxy Tax Under Section 6033(e)).

H.R. 2988, the Protecting Prudent Investment of Retirement Savings Act has passed in the House of Representatives by a vote of 213-205. Sponsored by Representative Rick Allen (R-GA), the bill seeks to codify that those who manage other people's retirement savings under ERISA must prioritize maximizing returns for a secure retirement rather than political or social impact using environmental, social, and governance (ESG) factors.

The Internal Revenue Service has issued Revenue Ruling 2026-03 which contains the applicable federal rates (AFR) for February 2026.

The Internal Revenue Service has released an updated draft 2025 tax year Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs).