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Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for Rhode Island Severe Storms
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on January 7, 2024 for Rhode Island severe storms, flooding, and tornadoes, for the incident period of September 10 – September 13, 2023.
Industry & Regulatory News
IRS Announces Applicable Federal Rates for February
The IRS has issued Revenue Ruling 2024-03, which contains the applicable federal rates (AFR) for February 2024.
Industry & Regulatory News
IRS Issues Yield Curves and Segment Rates for DB Plan Calculations
The Internal Revenue Service (IRS) has issued Notice 2024-21, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
Industry & Regulatory News
IRS Issues Limited Guidance for PLESAs Under SECURE 2.0
The IRS has released Notice 2024-22, providing guidance on anti-abuse rules under Section 127 of the SECURE 2.0 Act with respect to Pension-Linked Emergency Savings Accounts (PLESAs).
Industry & Regulatory News
IRS Finalizes Rules for Determining Corporate Bond Yield Curve
The IRS has issued its final rule specifying the methodology used to develop the corporate bond yield curve.
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for Utah Flooding
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on December 23, 2023, for Utah flooding, for the incident period of May 1 – May 27, 2023.
Industry & Regulatory News
IRS Announces Deadline Relief for Tennessee Storms and Tornadoes
The IRS has announced the postponement of certain tax-related deadlines for victims of Tennessee storms and tornadoes. The tax relief postpones various tax filing deadlines that began on December 9, 2023.
Industry & Regulatory News
IRS Issues SECURE 2.0 Guidance
The IRS has released Notice 2024-2, Miscellaneous Changes Under the SECURE 2.0 Act of 2022. The so-called “Grab Bag” Notice provides guidance to multiple provisions of the SECURE 2.0 Act of 2022.
Industry & Regulatory News
IRS Issues 2023 Cumulative List of Changes for Drafters of Pre-Approved Defined Contribution Plans
The IRS has issued Notice 2024-3, which contains the 2023 cumulative list of changes in requirements that must be taken into account by drafters of pre-approved defined contribution retirement plan documents for the fourth remedial amendment cycle (Cycle 4).
Industry & Regulatory News
IRS Issues Exceptions to Penalties for Failure to File Correct Information Returns or Payee Statements
The IRS has released final regulations that provide de minimis error safe harbor exceptions to penalties for failure to file correct information returns or furnish correct payee statements.