by David Torrillo | Jan 21, 2015 | Employee Benefit Plans, Forms and Procedures, Retirement - 401(k), 403(b)
We get this question a lot. The instructions to the Form 5500 give the technical answer. However, below is a quick summary of those requirements. Every situation is unique and for 2023 Form 5500s, the DOL just updated the rules. If you have specific questions, please...
by David Torrillo | Aug 19, 2014 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
The DOL recently issued Field Assistance Bulletin 2014-01 which details procedures fiduciaries should take to find missing participants and properly distribute account balances. The Bulletin suggests that fiduciaries use certified mail, check related plan and...
by David Torrillo | May 12, 2014 | Employee Benefit Plans, Forms and Procedures, News and Press Releases
The IRS has issued Notice 2014-35 which provides relief from late-filing penalties from the annual reporting requirements under Form 5500 series with respect to employee benefit plans. Under the notice, the IRS will not impose penalties relating to the filing of Form...
by David Torrillo | Apr 7, 2014 | Employee Benefit Plans, Forms and Procedures, Retirement - 401(k), 403(b)
On April 4, 2014, the IRS issued Notice 2014-19, which provides guidance on how qualified retirement plans should treat the marriages of same-sex couples following the Supreme Court’s decision in United States v. Windsor. The Windsor decision invalidated Section 3 of...
by David Torrillo | Oct 20, 2013 | Forms and Procedures, Policy Updates
The AICPA Employee Benefit Plan Audit Quality Center recently issued a summary of the DOL Office of Inspector General’s report: EBSA Needs to Provide Additional Guidance and Oversight to ERISA Plans Holding Hard-to-Value Alternative Investments. Highlights from the...
by David Torrillo | Jan 4, 2013 | Forms and Procedures, Policy Updates, Retirement - 401(k), 403(b)
The long awaited new Revenue Procedures for the Employee Plan Compliance Resolution System have been issued and will be effective, generally April 1, 2013. The information below from the IRS website highlights some of the changes. New Revenue Procedure Updates EPCRS...
