IRA

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Oklahoma Severe Storms, Straight-line Winds, and Tornadoes

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on July 19, 2023, for severe storms, straight-line winds, and tornadoes in Oklahoma, for the incident period of June 14, 2023 – June 18, 2023.

July 20 2023

Industry & Regulatory News

Retirement Spotlight: IRS Issues Interim Guidance on Plan Corrections under SECURE 2.0 Act

The SECURE 2.0 Act of 2022, (SECURE 2.0) provisions affecting the Employee Plans Compliance Resolution System (EPCRS) support the IRS trend toward shifting certain types of retirement account corrections to the Self Correction Program (SCP).

July 17 2023

Industry & Regulatory News

IRS Provides Additional RMD Transition Relief Under SECURE/SECURE 2.0

The IRS has issued Notice 2023-54 to provide transition relief for required minimum distributions (RMDs) in connection with the change in required beginning date (RBD) to age 73 under SECURE 2.0, and guidance for certain specified RMDs for 2023.

July 14 2023

Industry & Regulatory News

IRS Announces Deadline Relief for Vermont Flooding

The IRS has announced the postponement of certain tax-related deadlines for victims of flooding in Vermont. The tax relief postpones various tax filing deadlines that began on July 9, 2023.

July 14 2023

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for North Dakota Flooding

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on July 5, 2023, for North Dakota flooding, for the incident period of April 10, 2023 – May 6, 2023.

July 07 2023

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Maine Severe Storm and Flooding

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on July 6, 2023, for Maine severe storm and flooding, for the incident period of April 30, 2023 – May 1, 2023.

July 07 2023

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for South Dakota Flooding

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on July 6, 2023, for South Dakota flooding, for the incident period of April 9, 2023 – May 5, 2023.

July 07 2023

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for California Severe Storm and Flooding

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on May 25, 2023, for a California severe storm and flooding, for the incident period of March 11, 2023 – March 16, 2023.

May 30 2023

Industry & Regulatory News

SECURE 2.0 Provides New Ways to Take Penalty-Free Distributions

The SECURE 2.0 Act provides more ways for individuals to access their retirement savings and creates new exceptions to the 10% early distribution penalty tax.

May 25 2023

Industry & Regulatory News

IRS Provides EPCRS Guidance Related to SECURE 2.0

The IRS has issued Notice 2023-43 to address questions and provide interim guidance related to Section 305 of SECURE 2.0.

May 25 2023