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Industry & Regulatory News
IRS Releases Draft Publication 575
The Internal Revenue Service has released the draft 2025 tax-year Publication 575, Pension and Annuity Income. This publication contains general information for taxpayers on how they are to treat retirement plan distribution income for tax purposes.
Industry & Regulatory News
IRS Releases Draft 2026 Tax Year Form 5498
The IRS 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. This form will be reviewed for any significant changes, and findings will be shared as appropriate.
Industry & Regulatory News
IRS Releases Draft Form for Reporting Coverdell ESA Contributions
The IRS has issued draft Form 5498-ESA, Coverdell ESA Contribution Information. Form 5498-ESA is used to report Coverdell education savings account beneficiary and custodian/trustee information, tax identification and account numbers, annual contributions, and rollovers.
Industry & Regulatory News
IRS Releases Draft Instructions for HSAs and MSAs
The Internal Revenue Service has posted draft Instructions for Forms 1099-SA and 5498-SA, Distributions From an HSA, Archer MSA, or Medicare Advantage MSA, and HSA, Archer MSA, or Medicare Advantage MSA Information.
Industry & Regulatory News
IRS Issues Yield Curves and Segment Rates for DB Plan Calculations
The Internal Revenue Service has issued Notice 2025-43, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
Industry & Regulatory News
IRS Announces Applicable Federal Rates for September
The Internal Revenue Service has issued Revenue Ruling 2025-17 which contains the applicable federal rates (AFR) for September 2025.
Industry & Regulatory News
PBGC Issues Final Rule on Miscellaneous Provisions
The Pension Benefit Guarantee Corporation (PBGC) has issued a final rule providing minor clarifications and improvements to several miscellaneous provisions.
Industry & Regulatory News
DOL Rescinds 2021 Supplemental Statement on Alternative Assets In 401(K) Plans
Following President Trump’s recent executive order on alternative assets for 401(k) plans, the Department of Labor has rescinded a 2021 supplemental statement issued by the Biden administration that discouraged fiduciaries from considering alternative assets in 401(k) investment lineups.
Industry & Regulatory News
IRS Announces Deadline Relief for West Virginia Severe Storms, Straight-line Winds, Flooding, Landslides, and Mudslides
The IRS has announced the postponement of certain tax-related deadlines for victims of West Virgina severe storms until February 26, 2026.
Industry & Regulatory News
Illinois Amends Auto-IRA Program
Governor J.B. Pritzker has signed into law amendments to the Illinois Secure Choice program.