Retirement News for Employers – February 24, 2014 Edition

The IRS released Retirement News for Employers – February 24, 2014 Edition. It contains the following articles:

·         Retirement plans for your small business – Links to types of plans, a publication with a comparison chart, a webcast and an interactive website to help you choose

SEP Plans

• You can still set up a SEP by the due date (including extensions) of your 2013 business income tax return
• Employees for SEP plans includes those of all related employers – SEP Fix-It Guide

SIMPLE IRA Plans

• Tips for the sole proprietor – where to deduct, when to contribute and how to calculate the owner's contributions
• 3% matching contribution is based on unlimited compensation but 2% nonelective is limited to annual amount

Saver’s Credit – You may qualify for the Saver’s Credit of up to $2,000 for contributing to an IRA or company retirement plan, and you have until April 15, 2014, to make 2013 IRA contributions

Safe-harbor 401(k) notice – How to correct if you've either failed to give participants the annual notice or didn’t give it to them on time

Mark your calendar – retirement plan deadlines

Roth account in your retirement plan – if you participate in a 401(k), 403(b) or governmental 457(b) plan, consider your Roth options

Employee Plans News - Issue Number: 2012-1 – March 20, 2012

The IRS released Employee Plans News - Issue Number: 2012-1 – March 20, 2012. It contains the following articles:

· Lifetime income options;

· Next Year’s Guidance Plan;

· EP Published Guidance;

· Time to Adopt a New Defined Benefit Plan;

· Check the Status of Your Letter;

· New (Cycle A) Alert Guidelines;

· EP Determination Letter Program Update phone forum;

· Exam Priorities…With Monika Templeman - 401(k) Plans - What Else is Going On?;

· Follow-up on Learn, Educate, Self-Correct and Enforce Projects;

· EPCU Project on Domestic Trusts Maintained By Foreign Employers;

· We’re Glad You Asked;

· How to report 2010 Roth Rollovers and Conversions;

· Governmental Plans;

· PBGC publication;

· Tax Effect of Plan Disqualification;

· New on the Web;

· Register for IRS Nationwide Tax;

· Calendar of EP Benefits Conferences;

· DOL Corner;

· PBGC Insights

Retirement News for Employers – Winter 2012 Edition

The IRS released Retirement News for Employers – Winter 2012 Edition. It contains the following articles:

· 401(k) Questionnaire Interim Report

· Use an employee’s entire calendar-year compensation for determining employer contributions to SIMPLE IRA plans

· April 30 deadline for employers to adopt and submit determination letter applications for pre-approved defined benefit plans

· What’s a reasonable interest rate for participant loans?

· Before you take a loan from your retirement plan, there are a few rules you need to know

· Tips for Form 5558

· Using old forms may cause errors

· IRA required minimum distribution rules

· RMD rules for non-IRA plans for retiring participants over age 70½

· Saver’s Credit for 2011

· How to report 2010 Roth rollovers and conversions on your 2011 return

· EP Phone Forums

· New on the Web

· Enrolled Agent Special Enrollment Examination fee

· Renew your Preparer Tax Identification Number for 2012

· Retirement Plans News widget

· Employee Plans videos

· IRS social media tools

· Mark Your Calendar

· DOL News

Retirement News for Employers – Fall 2011 Edition

The IRS released Retirement News for Employers – Fall 2011 Edition. It contains the following articles:

• Paying Retirement Plan Benefits
• Maximize your Retirement Savings in 2012
• SEPs and SIMPLEs
• Disaster Relief for Retirement Plans and IRAs
• Exam Director discusses priorities for the current fiscal year
• EPCRS Phone Forum
• Join the ACT!
• Forms (Revised Form 5300, Form 5558 Reminders, Form 8955-SSA FAQ)
• Mark Your Calendar
• DOL News

Employee Plans News - Issue Number: 2011-5 – June 22, 2011

The IRS released Employee Plans News - Issue Number: 2011-5 – June 22, 2011. It contains the following articles:

• 2009 Form 8955-SSA and 2010 Form 5500-EZ Released


• Form 5500 – Special Extensions of Time to File


• Employee Plans Rulings & Agreements Priority Items


• Are SEP IRA Contributions Deductible if a Return is Filed Late?


• How Do You Calculate a Participant's Required Minimum Distribution from a Defined Contribution Plan?


• Form 5300 Applications for Employee Stock Ownership Plans


• Completing a Power of Attorney Form for Form 5330


• Employee Plans Compliance Unit's New Projects


• What's on the Employee Plans Compliance Unit's Radar Screen


• Ethics Phone Forum for Employee Plans Practitioners


• Tax Relief in Disaster Situations Advisory Committee on TE/GE


• Visit the IRS Video Portal for Archived Presentations


• Share this Newsletter


• New and Updated Forms and Publications


• DOL Corner


• PBGC Insights


• EP Published Guidance


• Calendar of EP Benefits Conferences

Retirement News for Employers – January 12, 2011 Special Edition

The IRS released Retirement News for Employers – January 12, 2011 Special Edition. It contains the following articles:

• Qualified Charitable Distributions for 2010 and 2011
• New Requirements for Tax Return Preparers

Employee Plans News - Issue Number: 2011-1 – January 12, 2011

The IRS released Employee Plans News - Issue Number: 2011-1 – November 26, 2010. It contains the following articles:

• Qualified Charitable Distributions for 2010 and 2011
• New Requirements for Tax Return Preparers
• Exclusive Benefit Rule for Governmental Plans Participating in Group Trusts
• Upcoming Correction on User Fees

Employee Plans News - Issue Number: 2010-11 – November 26, 2010

The IRS released Employee Plans News - Issue Number: 2010-11 – November 26, 2010. It contains the following articles:

• In-Plan Roth Rollovers (IRS Notice 2010-84 –Guidance on In-Plan Roth Rollovers)
• Funding Relief for Multiemployer Defined Benefit Plans
• Governmental Retirement Plans - Determination Letters
• Pre-Approved IRAs
• Form 5500 Notices Sent in Error Need a Response (CP 213 - Proposed Penalty Notice)

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
  

Employee Plans News – Summer 2010 Edition

The IRS released Employee Plans News – Summer 2010 Edition. It contains the following articles:

• IRS Names New Members to the Advisory Committee on Tax Exempt and Government Entities
  
• ESOP Phone Forum (ESOP Update Phone Forum - June 24, 2010)
  
• EPCU Insider - Foreign Distributions – International Project
  
• 401(k) Questionnaire Follow-Up
  
• Critical Priorities With…Monika Templeman – Who Can Represent a Plan Sponsor During an Employee Plans Examination?
  
• New Favorable Determination Letter 4577 Will Accelerate Processing Form 5307 Applications
  
• User Fee Exemption - Is Your Plan Eligible? - EGTRRA §620 eliminated user fees for certain determination letter applications filed after December 31, 2001. IRS Notice 2002-1 helps a plan sponsor determine if they are eligible for the user fee exemption.
  
• Final Regulations on Investment Diversification Requirements - Final Diversification Regulations
  
• Electronic Filing is Mandatory for Form 5500
  
• We're Glad You Asked! If an employer sets up a SEP plan for its employees, can each employee choose a different financial institution for his or her SEP-IRA? Can SEP plan participants make tax-deductible IRA contributions to their SEP-IRAs?
  
• Nationwide Tax Forums - Save the Date!
  
• PBGC Insights
  
• DOL Corner E-signature Option, Target Date Funds, Affordable Care Act, Free Compliance Assistance Events
  
• Forms & Pubs Update

Retirement News for Employers – Spring 2010 Edition

The IRS released Retirement News for Employers – Spring 2010 Edition. It contains the following articles:

• 401(k) Questionnaire Coming to 1,200 Employers
• Upcoming 5500 Filing Deadline
• Small Business Week
• We're Glad You Asked!
• Fixing Common Plan Mistakes: Improper Forfeiture Suspense Accounts
• IRS Employee Plans Videos - Helping Small Business Owners and Employees
• Save the Date for Our Nationwide Tax Forums!
• New Profit Sharing Publication
• The Filing Cabinet
• Desk Side Chat…With Monika Templeman - Who Can Represent a Plan Sponsor During an Employee Plans Examination?
• IRS Summer Phone Forums
• DOL News
• Employee Plans Published Guidance
• Mark Your Calendar
• Timing Is Everything Flyer.
  

Employee Plans News – Spring 2010 Edition

The IRS released Employee Plans News – Spring 2010 Edition. It contains the following articles:

• DOs and DON'Ts for Form 5307 Applications
• What Can and Can't Be Rolled Over to a Roth IRA
• The Taxable Portion of Your Rollover to a Roth IRA
• Distribute Excess Deferrals
• We're Glad You Asked!
• Fix-It Guides - Common Problems, Real Solutions!
• Future Requirements for Tax Return Preparers
• Web Spins
• Free Phone Forum - Retirement Plans Determination Letter Program,
  March 31, 2010
• Critical Priorities…With Monika Templeman - Today's Discussion: Multiemployer Funding Issues
• Employee Plans Published Guidance
• PBGC Insights
• DOL Corner
• Calendar of EP Benefits Conferences

Retirement News for Employers – Winter 2010 Edition

The IRS released Retirement News for Employers – Winter 2010 Edition. It contains the following articles:

• April 30, 2010 Filing Deadline for Adopting Employers of Pre-Approved Plans – Filing Tips for Submissions
• Deadline for Making Employer Contributions
• Clarification of HEART Act Changes for Retirement Plans
• Future Requirements for Tax Return Preparers
• Have You Heard of ERPAs?
• The Filing Cabinet
• New on the Web
• We're Glad You Asked!
• Is Your Distribution from Your Roth IRA Taxable?
• Desk Side Chat…With Monika Templeman - The Latest in the World of Code §403(b) Plans
• SEP Plan Pitfalls Phone Forum (Free) - February 26, 2010
• DOL News
• Employee Plans Published Guidance
• Mark Your Calendar
• Timing Is Everything Flyer
  

Employee Plans News - Special Edition, January 2010

The IRS published Employee Plans News - Special Edition, January 2010:

• Cycle D Submission Period Ends on February 1, 2010
• New Address for Determination Letter Applications
• April 30 Deadline for DC Pre-Approved Plans
• Free Phone Forum on Funding-Based Benefit Restrictions - January 26, 2010
• DOL Corner

Retirement News for Employers – Fall 2009 Edition

The IRS released Retirement News for Employers – Fall 2009 Edition. It contains the following articles:

• Roth & Roll: 2010 Roth IRAs & Rollovers
• 5500 for 2009 and Later Required to be Filed Electronically
• Establishing a SEP or SIMPLE IRA Plan
• IRA Investments
• New Web Tool for SARSEP Plans
• We're Glad You Asked!
• New on the Web
• Employee Plans Published Guidance
• Desk Side Chat…With Monika Templeman: The Importance of Internal Controls and Plan Self-Correction
• DOL News
• Mark Your Calendar
• Timing is Everything flyer

Employee Plans News - Special Edition, October 2009

The IRS published Employee Plans News - Special Edition, October 2009:

Final Funding Regulations and Benefit Restriction Notices for Single Employer Defined Benefit Plans; Phone Forum on Retirement Plan Distributions - October 28, 2009

This Special Edition covers the final regulations on the measurement of assets and liabilities for pension funding, benefit restrictions for underfunded pension plans, benefit restriction notices and more.

Employee Plans News - Special Edition, September 25, 2009

The IRS published Employee Plans News - Special Edition, September 25, 2009:

Upcoming Funding Regulations; Additional Guidance on 2009 Waiver of Required Minimum Distributions

This Special Edition of Employee Plans News contains the following articles:

• Upcoming Funding Regulations - states that the IRS and the Department of Treasury expect to issue final regulations in the near future that will cover measurement of assets and liabilities under §430, and the application of benefit restrictions of §436 for single-employer defined benefit plans. It also provides assistance to actuaries in issuing the adjusted funding target attainment percentage (AFTAP) for 2009.
  
• Additional Guidance on 2009 Waiver of Required Minimum Distributions – explains key provisions of Notice 2009-82, issued on September 24, 2009, that provides guidance, transitional relief, sample plan amendments and answers to questions related to the waiver of 2009 required minimum distributions.

Employee Plans News - Fall 2009 Edition

The IRS released Employee Plans News - Fall 2009 Edition. It contains the following articles:

• Dos and Don'ts of Hardship Distributions;
• IRS Retirement Plans Online;
• When Limits Collide, Which One Wins?;
• Tax Return Preparer Review Board; Critical Priorities…With Monika Templeman Today's Discussion: Loans and Hardships in 401(k) Plans;
• A Message from the Advisory Committee on Tax Exempt and Government Entities: Stakeholders: please participate!;
• Employee Plans Published Guidance;
• 401(k) Phone Forum Rescheduled to September 30, 2009;
• We're Glad You Asked!;
• Ways to Avoid Delays: Determination Letter Application Processing Procedures;
• Retirement & Savings Initiatives: Helping Americans Save for the Future;
• The EPCU Insider - Master & Prototype (M&P) Project;
• Highlights of the Retirement News for Employers;
• PBGC Insights;
• DOL Corner;
• Calendar of EP Benefits Conferences

Retirement News for Employers - Special Edition, September 2009

The IRS published Retirement News for Employers - Special Edition, September 2009:

This Special Edition discusses the release of Notice 2009-3 which extends the deadline for 403(b) plan sponsors to adopt new written plans or amend their existing written plans from January 1, 2009, to December 31, 2009.

This special edition discusses the Retirement & Savings Initiatives, Rollovers From Employer Plans to Roth IRAs, the IRS Retirement Plans Navigator and Life Events That Can Affect Retirement Savings.

Employee Plans News - Special Edition, September 2009

The IRS published Employee Plans News - Special Edition, September 2009:

Retirement & Savings Initiatives: Helping Americans Save for the Future; Rollovers from Employer Plans to Roth IRAs; Now Online

This special edition discusses the Retirement & Savings Initiatives, Rollovers From Employer Plans to Roth IRAs, the IRS Retirement Plans Navigator and Life Events That Can Affect Retirement Savings.