The Internal Revenue Service (“IRS”) Employee Plans function announced that it is piloting a pre-examination retirement plan compliance program beginning in June 2022. This program will notify a plan sponsor by letter that their retirement plan was selected for an upcoming examination. Read More
On March 10, 2022, the Department of Labor (“DOL”) issued Compliance Assistance Release No. 2022-01, 401(k) Plan Investments in “Cryptocurrencies.” In this guidance (see below), the DOL cautions plan fiduciaries to exercise extreme care before they consider adding a cryptocurrency option to a 401(k) plan’s investment menu for plan participants. Read More

2021 Form 5500 Released

The U.S. Department of Labor’s Employee Benefits Security Administration, the IRS and the Pension Benefit Guaranty Corporation today released informational copies of the 2021 Form 5500 Annual Return/Report and related instructions – including the Form 5500-SF. Read More
Victims of Hurricane Ida in six states now have until Feb. 15, 2022, extended from January 3, 2022, to file various individual and business tax returns and make tax payments, the Internal Revenue Service has announced. Read More