Monday, August 16, 2010

IRS Notice 2010-56 – Special Funding Rules for Multiemployer Plans Under PRA 2010

Part III --- Administrative, Miscellaneous, and Procedural

IRS Notice 2010-56 – Special Funding Rules for Multiemployer Plans Under PRA 2010

This notice provides guidance on filing Form 5500 and Schedule MB for multiemployer defined benefit plans for plan sponsors who are considering use of the special funding rules under section 431(b)(8) of the Code, as added by the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010 (PRA 2010), for a plan year for which the Form 5500 (and Schedule MB) is filed. This notice also describes anticipated future guidance that will apply for sponsors of multiemployer defined benefit pension plans with respect to the special funding rules.

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Thursday, August 5, 2010

Employee Plans News - Issue Number: 2010-06 - August 2, 2010

The IRS released Employee Plans News - Issue Number: 2010-06 - August 2, 2010. It contains the following articles:

  • Tax Return Preparers
  • Pension Funding Relief
  • Notices for Single and Multiemployer Defined Benefit Pension Plans on Pension Funding Relief
  • Retirement Plans Widget
  • ESOP-Owned S Corporation
  • Disregard the Payment Voucher Mailed with New Favorable Autoclosure Determination Letters
  • EP Phone Forums