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Employee Plans News

Issue 2014-19, November 24, 2014

Print version of newsletter (.pdf)

Modified 403(b) plan Listing of Required Modifications coming soon – to help pre-approved sponsors draft plans

Plans may file for determination letters – Cycle D ends January 31, 2015, for individually designed plan sponsors whose EIN ends in 4 or 9 and multiemployer plans

Rollover chart – summary of allowable transfers to and from plans and IRAs

Issue 2014-18, November 13, 2014

Print version of newsletter (.pdf)

Form 5500-SUP – draft of the paper supplement for 2015 and later plan years

New option for plan sponsors to include income annuities in default target date fund investment options (Notice 2014-66)

EPCU QJSA project – most sponsors complied with the qualified joint and survivor annuity notice and consent requirements

One-per-year limit on IRA rollovers allows owners of multiple IRAs fresh start in 2015 (Announcement 2014-32)

The Information Reporting Program Advisory Committee (IRPAC) 2014 annual report

Renew your PTIN before Dec. 31

DOL Corner updates

Issue 2014-17, October 27, 2014

Print version of newsletter (.pdf)

2015 COLA limits – cost-of-living adjustments to the dollar limits for retirement plans and IRAs

January 31, 2015 deadline – for plan sponsors with individually-designed plans and EINs ending in 4 or 9, or multiemployer plans to amend their plans for the 2013 Cumulative List and apply for a determination letter

Renew Your 2015 PTIN before Dec. 31 – if you plan to prepare any federal tax returns for compensation or are an enrolled agent

Issue 2014-16, October 15, 2014

Print version of newsletter (.pdf)

New single distribution rule – allows participants to send the pre-tax amount of their distribution to one destination and after-tax to another

Canadian retirement plan participants – qualify for tax deferred contributions to certain plans

Mandatory electronic filing for Form 8955-SSA and 5500-series – for filers who have to file at least 250 returns during the calendar year

Fidelity bonds and depositing plan contributions – EPCU Virgin Island retirement plans project results

Form 5500-EZ Pilot Penalty Relief Program – watch video for details (2.11 min)

IRS Nationwide Tax Forums online – seminars include two videos, slides and transcripts on retirement plan topics

The Advisory Committee on Tax-Exempt & Government Entities (ACT) – is accepting applications including two for Employee Plans - apply by Nov. 3


HATFA premium guidance – effect of the Highway and Transportation Funding Act of 2014 on PBGC premiums

Premium payments – instructions and contact information to ensure your payments are posted accurately

Issue 2014-15, September 22, 2014

Print version of newsletter (.pdf)

Form 5498 reporting errors
IRA trustees, issuers and custodians should carefully complete IRA transactions

Updated: Finding missing plan participants
Steps plan sponsors may take to locate missing participants

DOL corner
Updates on brokerage windows and missing participants

Issue 2014-14, September 8, 2014

User Fee for Employee Plan Opinion or Advisory Letter Request
Updated Form 8717-A –  We will accept prior versions of Form 8717-A postmarked on or before October 31, 2014, as long as you’ve enclosed the correct user fee.

Defined benefit plan update (Sept. 18 at 2 p.m. EDT) – learn about recent legislation, recent and pending guidance, current developments in determination letter and Employee Plans Compliance Resolution System cases, and common exam issues.

Issue 2014-13, September 2, 2014

Print version of newsletter (.pdf)

Group trust rules
Changes to 81-100 group trust rules
– include allowing assets in an insurance company’s separate account to be invested in a group trust under certain conditions.

Retirement plan hot topics
(Sept. 11 at 2 p.m. EDT) – learn about the myRA program, IRA tax-free rollovers, the Windsor Supreme Court ruling, invalid Social Security numbers, Form 5500-EZ filing pitfalls and relief program, and tips for self-employed plan sponsors.

Issue 2014-12, August 21, 2014

Correcting retirement plan mistakes using IRS correction programs (Sept. 4 at 2 p.m. EDT) – learn how the IRS correction programs for retirement plans work, how to address common plan failures, tips to expedite submissions and how to resolve issues that can’t be addressed under the Employee Plans Compliance Resolution System.

User Fee for Employee Plan Opinion or Advisory Letter Request
Updated Form 8717-A – you must use updated form for all applications postmarked on or after August 1, 2014.

The Employee Plans News is a periodic IRS newsletter with retirement plan information for retirement plan practitioners.

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Page Last Reviewed or Updated: 24-Nov-2014