ERISA News

The Internal Revenue Service has issued an updated draft Form 5330, Return of Excise Taxes Related to Employee Benefit Plans.

The Federal Emergency Management Agency (FEMA) issued Major Disaster Declarations on October 22, 2025, for the following disasters. 

Alaska Severe Storms, Flooding, and Remnants of Typhoon Halong, for the incident period October 8, 2025 – October 13, 2025. 

North Dakota Severe Storms, Straight-line Winds, and Tornadoes, for the incident period August 7, 2025 – August 8, 2025. 

Leech Lake Band of Ojibwe Severe Storms and Straight-Line Winds, for the incident period June 21, 2025. 

Nebraska Severe Storms, Straight-line Winds, and Flooding, for the incident period August 8, 2025 – August 10, 2025. 

The Internal Revenue Service has posted draft Instructions for Form 8881, Credits for Small Employer Pension Plan Startup Costs, Contributions, Auto-Enrollment, and Military Spouse Participation.

The Internal Revenue Service has provided reporting relief from the requirement to include a code “Y” on a 2025 Form 1099-R when reporting qualified charitable distributions from an IRA. The use of the new code for 2025 is now optional. Instructions for Forms 1099-R and 5498 indicated that use of the code in 2025 was required.

Senator Catherine Cortez Masto (D-NV) has introduced S. 2964, the Emergency Relief for Federal Contractors Act of 2025.

The Internal Revenue Service has issued Revenue Ruling 2025-21 which contains the applicable federal rates (AFR) for November 2025.

The Internal Revenue Service has released 2025 Form 945, Annual Return of Withheld Federal Income Tax, and correlating instructions.

The Senate passed by unanimous consent two proposals aimed at strengthening Employee Stock Ownership Plans (ESOPs) — S. 1728, the Employee Ownership Representation Act, sponsored by Senator Bill Cassidy (R-LA), and S. 2403, the Retire Through Ownership Act, co-sponsored by Senators Roger Marshall (R-KS) and Tim Kaine (D-VA).

The Internal Revenue Service (IRS) has issued final regulations implementing catch-up contribution requirements introduced by the SECURE 2.0 Act of 2022 (SECURE 2.0). These final regulations follow the proposed regulations released in January 2025, as detailed in a previous Washington Pulse.

The Internal Revenue Service has issued a draft 2026 Form W-4P, Withholding Certificate for Periodic Pension or Annuity Payments. Form W-4P is used to withhold federal income tax from periodic retirement plan and IRA payments. Periodic payments are installment payments taken at regular intervals over a period of more than one year.