This announcement contains a list of entities approved to act as nonbank trustees and nonbank custodians within the meaning of section 1.408-2(e) of the regulations. In addition, the announcement contains instructions on how errors in the list may be corrected. Announcement 2007-47 updated and superseded.
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Showing posts with label IRS Announcement. Show all posts
Showing posts with label IRS Announcement. Show all posts
Monday, September 12, 2011
IRS Announcement 2011-59 - Nonbank trustees; section 1.408-2(e) of the regulations.
Monday, March 21, 2011
IRS Announcement 2011-21 - Replacement of Schedule SSA (Form 5500) with Form 8955-SSA
This announcement designates Form 8955-SSA, Annual Registration Statement Identifying Separated Participants With Deferred Vested Benefits, as the form to be used to satisfy the reporting requirements of section 6057(a) of the Code for plan years beginning on or after January 1, 2009, and sets forth the due dates for filing the Form 8955-SSA for the 2009 plan year and subsequent plan years.
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Monday, February 14, 2011
Announcement 2011-16 - Correction to Revenue Ruling 2011-3 — 2011 covered compensation tables; permitted disparity
Revenue Ruling 2011-3 as it appears in the Internal Revenue Bulletin (IRB) that was published on January 24, 2011 (2011-4 I.R.B. 326) contains a typographical error in Attachment I. Revenue Ruling 2011-3 as it appears in the IRB has been corrected.
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Monday, January 31, 2011
Announcement 2011-8
This announcement contains a correction to Revenue Procedure 2011-8, 2011-1 I.R.B. 237, which contains an error in the user fee schedule that applies to a non-mass submitter of a master or prototype (M&P) plan. Rev. Proc. 2011-8 corrected.
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Monday, April 12, 2010
IRS Announcement 2010-20 – Issuance of Opinion and Advisory Letters and Opening of the EGTRRA Determination Letter Program for Pre-Approved Defined Benefit Plans
Part IV. Items of General Interest IRS Announcement 2010-20 – Issuance of Opinion and Advisory Letters and Opening of the EGTRRA Determination Letter Program for Pre-Approved Defined Benefit Plans This document announces that the Service will soon issue opinion and advisory letters for pre-approved (i.e., master and prototype (M&P) and volume submitter (VS)) defined benefit plans that were restated for the Economic Growth and Tax Relief Reconciliation Act of 2001 ("EGTRRA") and other changes in plan qualification requirements listed in Notice 2007-3 ("the 2006 Cumulative List") and that were filed with the Service. The Service expects to issue the letters on March 31, 2010, or, in some cases, as soon as possible thereafter. A plan that receives a favorable letter with respect to its restatement for EGTRRA and the 2006 Cumulative List is referred to as an "EGTRRA-approved plan." Employers using these pre-approved plan documents to restate a plan for EGTRRA and the 2006 Cumulative List will be required to adopt the EGTRRA-approved plan document by April 30, 2012. The Service will accept applications for individual determination letters submitted by adopters of these pre-approved plans starting on May 1, 2010. Related Links:
Tuesday, February 2, 2010
IRS Announcement 2010-03 – Automatic Approval of Changes in Funding Method for Takeover Plans and Changes in Pension Valuation Software
Part IV. Items of General Interest IRS Announcement 2010-03 – Automatic Approval of Changes in Funding Method for Takeover Plans and Changes in Pension Valuation Software Automatic approval of changes in funding method for takeover plans and changes in pension valuation software. This announcement provides, for plan years beginning on or after January 1, 2009, automatic approval for certain changes in funding method with respect to single-employer defined benefit plans that result either from a change in the valuation software used to determine the liabilities for such plans or from a change in the enrolled actuary and the business organization providing actuarial services to the plan. This guidance is being provided in response to numerous requests from actuaries and plan sponsors, many of whom are continuing to modify their valuation software in order to implement the changes to the funding rules made by the Pension Protection Act of 2006, the Worker, Retiree, and Employer Recovery Act of 2008, and guidance regarding these legislative changes. Related Links:
Tuesday, June 10, 2008
IRS Announcement 2008-56 – Change in Reporting Section 404(k) Dividends
Part IV. – Items of General Interest IRS Announcement 2008-56 – Change in Reporting Section 404(k) Dividends Employee stock ownership plans; dividends; section 404(k); reporting. This announcement provides for a change in the reporting of dividends on employer securities that are distributed from an employee stock ownership plan under section 404(k) of the Code. Announcement 85-168 revoked. Announcement 2008-56 states that beginning with distributions in 2009, the reporting of dividends on employer securities that are distributed from an employee stock ownership plan under section 404(k) of the Code must be on a Form 1099-R that does not report any other distributions. New Reporting Effect on Other Documents Announcement 85-168 is revoked. Related Links:
Distributions from a plan that are made in 2009 or later years and that are § 404(k) dividends must be reported on a Form 1099-R that does not report any other distributions, in accordance with the instructions to the form. Accordingly, if there are other distributions from the plan in such years that are not § 404(k) dividends, they must be reported on a separate Form 1099-R. It is anticipated that the instructions will require a special code in box 7 of the form to indicate the special tax treatment and rollover restrictions applicable to § 404(k) dividends. Payments of § 404(k) dividends made directly from the corporation to the plan participants or their beneficiaries are reported on Form 1099-DIV in accordance with the instructions to that form.
- IRC Section 404(k) - Deduction for dividends paid on certain employer securities
- IRC Section 316 – Dividends defined
- C Corporations, Deduction Limits, 404(k) Dividends, and Reasonable Compensation
- Dividends and S Corporation Distributions of Earnings
- Benefit Payment Government Filings
Monday, May 19, 2008
IRS Announcement 2008-44 – Relief for Recipients of Certain Direct Deposits of 2008 Economic Stimulus Payments
Part IV. – Items of General Interest Economic stimulus payment; direct deposit; tax favored account. This announcement provides that individuals who have payments made by direct deposit under the Economic Stimulus Act of 2008 to their IRAs or certain other accounts afforded special tax benefits under the Code may remove the payments without incurring any adverse tax consequences. Related Links:
Friday, March 14, 2008
IRS Announcement 2008-23 – Issuance of Opinion and Advisory Letters and Opening of the EGTRRA Determination Letter Program for Pre-Approved Defined Contribution Plans
Part IV. – Items of General Interest IRS Announcement 2008-23 – Issuance of Opinion and Advisory Letters and Opening of the EGTRRA Determination Letter Program for Pre-Approved Defined Contribution Plans Pre-approved defined contribution master and prototype and volume submitter plans; issuance of EGTRRA opinion and advisory letters. This announcement states that the Service will soon issue opinion and advisory letters for pre-approved, i.e., master and prototype and volume submitter defined contribution plans that were timely filed with the Service to comply with the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), and other changes in plan qualification requirements listed in Notice 2004-84, 2004-2 C.B. 1030. Announcement 2008-23 states that the Service will soon issue opinion and advisory letters for pre-approved master and prototype and volume submitter defined contribution plans that were timely filed with the Service to comply with the Economic Growth and Tax Relief Reconciliation Act of 2001, Pub. L. 107-16, and other changes in plan qualification requirements listed in Notice 2004-84, 2004-2 C.B. 1030. Announcement 2008-23 will be in Internal Revenue Bulletin 2008-14, dated: April 7, 2008 Related Links:
Saturday, January 26, 2008
IRS Announcement 2008–2 – Election of Alternative Funding Schedule
Part IV.--- Items of General Interest IRS Announcement 2008–2 – Election of Alternative Funding Schedule Minimum funding standards; alternative funding schedule.This announcement describes how a commercial passenger airline may make an election for an alternative funding schedule under section 402(a)(2) of the Pension Protection Act of 2006 as amended by section 6615 of the U.S. Troop Readiness, Veterans' Care, Katrina Recovery, and Iraq Accountability Appropriations Act, 2007. Related Links:
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