DOL ANNOUNCES PROPOSED INFORMATION COLLECTION TO BUILD ONLINE SEARCH TOOL TO HELP FIND ‘LOST’ RETIREMENT SAVINGS

Wednesday, April, 17, 2024 / Published in Employee Benefit Plans, Forms and Procedures, News and Press Releases, Retirement - 401(k), 403(b)
The U.S. Department of Labor announced on April 15, 2024 that its Employee Benefits Security Administration is proposing to collect information from plan administrators on a voluntarily basis to establish an online search tool to help America’s workers locate lost retirement savings they earned. Read More

EFAST2 Authentication Process is Changing

Monday, September, 25, 2023 / Published in Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
The DOL’s EFAST2 website authentication process is being modernized in 2023. As part of this modernization, DOL is phasing out the existing method of logging in to the EFAST2 website with an EFAST2-issued User ID and password. Read More

DOL ISSUES CHANGES TO 2023 FORM 5500

Friday, February, 24, 2023 / Published in Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
The U.S. Department of Labor (DOL), the Internal Revenue Service (IRS), and the Pension Benefit Guaranty Corporation (PBGC) (together “Agencies”) on February 23, 2023 released Federal Register notices that announce changes to the 2023 Form 5500 Annual Return/Report of Employee Benefit Plan and Form 5500-SF Short Form. Read More

2021 Form 5500 Released

Thursday, December, 30, 2021 / Published in Employee Benefit Plans, Forms and Procedures, News and Press Releases, Retirement - 401(k), 403(b)
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

Hurricane Ida Tax Relief Extended to Feb. 15 for 6 qualifying states

Tuesday, December, 28, 2021 / Published in Uncategorized
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

DOL Clarifies Form 5500 COVID-19 Relief Provided for Late Contributions and Loan Repayments

Tuesday, July, 06, 2021 / Published in Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
Per the AICPA AICPA Employee Benefit Plans Audit Quality Center, the DOL staff has stated that in accordance with relief provided in EBSA Disaster Relief Notice 2020-01; Guidance and Relief for Employee Benefit Plans Due to the COVID-19 (Novel Coronavirus) Outbreak, the Department will not take enforcement action for participant payments and withholdings not made

IRS States No Action Needed by Plan Sponsors: Delayed Mailing of Notice CP 216F

Wednesday, February, 17, 2021 / Published in Employee Benefit Plans, Forms and Procedures
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