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Retirement News for Employers

October 2, 2014 Edition

Print version of newsletter (.pdf)

Starting a plan

Operating a plan and correcting mistakes

Terminating plans

Updated


June 13, 2014 Edition

Print version of newsletter (.pdf)

Penalty relief

  • Form 5500-EZ – new pilot program offers no late filing penalties if you file before June 2, 2015, and meet other requirements
  • Forms 5500 and 5500-SF – to get IRS penalty relief, you must file Form 8955-SSA

Safe harbor 401(k) and 401(m) plans - you may amend during the plan year to comply with new same-sex marriage rules

Rollovers

Copies of plan documents – how to request a copy of a determination letter application file

Avoiding mistakes

  • Internal controls – what internal controls are and how they help protect your plan
  • Policies, procedures and internal controls self-audit questions to help you evaluate your internal controls
  • Monitoring plan service provider reportsreview reports and provide updated plan information to prevent mistakes

Correcting mistakes

  • Voluntary Correction Program –use new forms for your VCP submission
  • How to correct if you used the wrong definition of compensation to make:
  • Updated Fix-It Guides for SEP, SARSEP and 403(b) plans

Mark your calendar – retirement plan deadlines

DOL Newsupdates from Department of Labor

For employees

  • SIMPLE IRA plans – you may owe additional taxes on withdrawals unless an exception applies
  • Mid-year retirement savings checkupreview your retirement contributions

Updated


The Retirement News for Employers is a periodic newsletter with retirement plan information for employers and business owners – and their tax advisors from Employee Plans (Tax Exempt and Government Entities (TE/GE) at the IRS).

If you have any comments or suggestions on our newsletter or Web pages, please send them to RetirementPlanComments@irs.gov.

Browse the newsletter archive or subscribe to future editions.

It is permissible to reproduce our newsletter. We ask that you place a note stating that (1) It is a publication of the IRS Employee Plans, and (2) The presence of IRS material does not constitute or imply the endorsement, recommendation, or favoring by the IRS of any opinions, products, or services offered by the sponsor of this web page or document.

Page Last Reviewed or Updated: 16-Oct-2014