Defined benefit plan

The IRS has posted 2025 tax year draft Form 4972, Tax on Lump-Sum Distributions (From Qualified Plans of Participants Born Before January 2, 1936). 

The Pension Benefit Guarantee Corporation (PBGC) has issued a final rule updating interest assumptions under the asset allocation regulation for plans with valuation dates in the third quarter of 2025.

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, straight-line winds, tornadoes, and flooding in Missouri until November 3, 2025.

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on June 19, 2025, for Tennessee severe storms, straight-line winds, tornadoes and flooding, for the incident period of April 2 – April 24, 2025. 

The IRS has issued Revenue Ruling 2025-13 which contains the applicable federal rates (AFR) for July 2025. 

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration for the following disasters for the period indicated.

The Internal Revenue Service (IRS) has issued Notice 2025-35, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

The Internal Revenue Service (IRS) has issued Notice 2025-29, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

The IRS has issued Revenue Ruling 2025-12 which contains the applicable federal rates (AFR) for June 2025.

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on May 8, 2025, for Arkansas severe storms and tornadoes, for the incident period of March 14-15, 2025.