IRA

The Internal Revenue Service (IRS) has announced the postponement of certain tax-related deadlines for severe winter storms in the state of Mississippi until June 8, 2026. The tax relief postpones various tax filing deadlines that began on January 23, 2026. Affected individuals and households that reside or have business in Mississippi, as well as taxpayers with records located in the covered area that are needed to meet covered deadlines, qualify for relief.

The Internal Revenue Service (IRS) has announced the postponement of certain tax-related deadlines for flooding and mudslides due to severe storms in the state of Hawaii until July 8, 2026. The tax relief postpones various tax filing deadlines that began on March 10, 2026. Affected individuals and households that reside or have business in Hawaii, Honolulu, Kauai and Maui counties, as well as taxpayers with records located in the covered area that are needed to meet covered deadlines, qualify for relief.

The Internal Revenue Service (IRS) has announced the postponement of certain tax-related deadlines for winter storm Fern in the state of Tennessee until May 22, 2026. The tax relief postpones various tax filing deadlines that began on January 22, 2026. Affected individuals and households who reside or have a business in Cheatham, Chester, Clay, Davidson, Decatur, Dickson, Hardeman, Hardin, Henderson, Hickman, Lawrence, Lewis, Macon, Maury, McNairy, Perry, Robertson, Rutherford, Summer, Trousdale, Wayne, Williamson and Wilson counties, as well as taxpayers with records located in the covered area that are needed to meet covered deadlines, qualify for relief.

The Internal Revenue Service has released an updated draft Form 8955-SSA, Annual Registration Statement Identifying Separated Participants With Deferred Vested Benefits. Retirement plan sponsors use this form to notify the Social Security Administration (SSA) if a former employee has vested benefits remaining in the plan.

The Internal Revenue Service has issued a draft Form 5498-TA, Trump Account Contribution Information, which will be used by trustees to report tax year contributions to Trump accounts. 

The Internal Revenue Service (IRS) has posted a draft 2026 tax year Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. 

The Internal Revenue Service has posted a draft 2026 tax year Form 5498, IRA Contribution Information. Form 5498 is used to report IRA-related information, including contributions to IRAs, SEP plans, and SIMPLE IRA plans; end-of-year fair market values; rollovers; conversions; recharacterizations; etc. 

The Department of Labor has released a proposed rule, “Fiduciary Duties in Selecting Designated Investment Alternatives”. According to a news release, the rule explains the steps that managers of 401(k) plans should take when considering alternative assets as a component in their investment lineups and establishes a set of process-based safe harbors for plan fiduciaries to use when selecting designated investment alternatives. The proposal follows President Trump’s Executive Order, “Democratizing Access to Alternative Assets for 401(k) Investors".

The Department of Labor (DOL) has issued a proposed rule amending the electronic delivery regulations for certain retirement plan documents to align with new requirements established under the SECURE 2.0 Act (SECURE 2.0). The proposal updates—rather than replaces—the 2002 and 2020 safe harbors, preserving electronic delivery as the default for most plan disclosures while adding new conditions for when certain paper benefit statements are required.

Nearly 83 million Americans lack workplace retirement savings coverage—including independent and gig workers and employees who lack coverage under an employer sponsored retirement plan—leaving half the U.S. workforce without a clear path to financial security.¹ Nearly 83 million Americans lack workplace retirement savings coverage Establishing national IRA standards with automatic enrollment features can meaningfully close this significant retirement coverage gap.

¹ Angela M. Antonelli. Who Lacks Access to Retirement Savings? A State-Level Analysis and an Examination of the Potential Benefits of State-Facilitated Retirement Savings Programs, Policy Report no. 25 01 (Washington, DC: Center for Retirement Initiatives, Georgetown University, March 2025), https://cri.georgetown.edu/wp-content/uploads/2025/03/Who-Lacks-Access-to-Retirement-Savings.pdf