IRS States No Action Needed by Plan Sponsors: Delayed Mailing of Notice CP 216F
Wednesday, February, 17, 2021
The IRS has stated that Plan sponsors do not need to take further action if they are currently receiving Notice CP 216F, Approval of Extension to file Form 5500 Series Return, for calendar year 2019 Forms 5500 series returns, after the final return for 2019 has been submitted. Read More
- Published in Employee Benefit Plans, Forms and Procedures
No Comments
EBSA Restores Over $3.1 Billion to Employee Benefit Plans, Participants and Beneficiaries
Thursday, February, 04, 2021
The DOL has issued its fiscal year (FY) 2020 enforcement fact sheet, highlighting the recovery of over $3.1 billion in direct payments to plans, participants, and beneficiaries. The DOL’s Employee Benefits Security Administration (EBSA) has oversight responsibility over nearly 722,000 retirement plans, 2.5 million health plans, and a similar number of other welfare benefit plans.
Updated Missing Participants Guidance
Friday, January, 15, 2021
The U.S. Department of Labor’s Employee Benefits Security Administration recently posted new guidance on Missing Participants including: Missing Participants – Best Practices for Pension Plans; Field Assistance Bulletin No. 2021-01, Temporary Enforcement Policy Regarding the Participation of Terminating Defined Contribution Plans in the PBGC Missing Participants Program; and Compliance Assistance Release No. Read More
Benefit Plan Provisions of the Consolidated Appropriations Act – 2021
Wednesday, December, 23, 2020
The Consolidated Appropriations Act – 2021, was approved by the House and Senate late Dec. 21 but still must be signed by the President to become law. The legislation includes an extension of retirement-based disaster relief, CARES Act clarifications for money purchase pension plans, another round of Paycheck Protection Program (PPP) loans, and provisions which