IRS

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Montana

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on August 12, 2023, for Montana flooding, for the incident period of April 10, 2023 – April 26, 2023.

August 14 2023

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Mississippi

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on August 12, 2023, for Mississippi severe storms, straight-line winds, and tornadoes, for the incident period of June 14, 2023 – June 19, 2023.

August 14 2023

Industry & Regulatory News

IRS Issues Yield Cures and Segment Rates for DB Plan Calculations

The IRS has issued Notice 2023-61, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

August 14 2023

Industry & Regulatory News

IRS to Focus on ESOP Compliance

The IRS indicates in a news release its intent to focus on a range of compliance issues that can be associated with Employee Stock Ownership Plans (ESOPs).

August 11 2023

Industry & Regulatory News

IRS Issues Yield Curves and Segment Rates for DB Plan Calculations

The IRS has issued Notice 2023-53, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

July 27 2023

Industry & Regulatory News

SEC Proposes Requirements for Use of Data Analytics

The Securities and Exchange Commission has released a proposed rule that would require broker-dealers and investment advisers to take certain steps to address conflicts of interest associated with use of predictive data analytics.

July 27 2023

Industry & Regulatory News

IRS Announces Applicable Federal Rates for August 2023

The IRS has issued Revenue Ruling 2023-13, which contains the applicable federal rates (AFR) for August 2023.

July 19 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