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
Per the AICPA Employee Benefit Plan Audit Quality Center, the IRS issued Notice 2020-23 which provides additional filing relief for taxpayers affected by the ongoing Coronavirus pandemic. The IRS filing relief includes Form 5500, Annual Return/Report of Employee Benefit Plan , due to be filed (originally or pursuant to a valid extension) on or after
The Pension Benefit Guaranty Corporation (“PBGC”) is expanding its Missing Participants Program to terminated 401(k) and other plans in an effort to connect more people to their retirement savings. “PBGC’s expanded Missing Participants Program addresses an important problem and meets the needs of our stakeholders,” said PBGC Director Tom Reeder. Read More
The IRS issued Notice 2016-50, Updated Static Mortality Tables for Defined Benefit Pension Plans for 2017, which provides updated static mortality tables to be used for defined benefit pension plans for purposes of calculating the funding target and other items for valuation dates occurring during calendar year 2017. Read More
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