Recent Published Guidance

 

Interested in a printable PDF? See the list of Internal Revenue Bulletins in PDF format.

Recent Interest Rate Notices
Updates for the corporate bond weighted average interest rates; the 24-month average segment rates; the funding transitional segment rates; and the minimum present value transitional rates.

Rev. Proc. 2023-4, 2023-01 I.R.B. 162
Updates Rev. Proc. 2022-4, 2022-1 IRB 161, relating to the types of advice the IRS provides to taxpayers on issues under the jurisdiction of the Commissioner, Tax Exempt and Government Entities Division, Employee Plans Rulings and Agreements, and the procedures that apply to requests for determination letters and private letter rulings.

Notice 2022-62, 2022-49 I.R.B. 506
Sets forth the 2022 Required Amendments List (2022 RA List). The 2022 RA List applies to both individually designed plans qualified under IRC section 401(a) (qualified individually designed plans) and individually designed plans that satisfy the requirements of IRC section 403(b) (section 403(b) individually designed plans).

Notice 2022-55, 2022-45 I.R.B. 443
IRC 415 provides for dollar limitations on benefits and contributions under qualified retirement plans. IRC 415(d) requires that the Secretary of the Treasury annually adjust these limits for cost of living increases. Other limitations applicable to deferred compensation plans are also affected by these adjustments under IRC 415. Under IRC 415(d), the adjustments are to be made under adjustment procedures similar to those used to adjust benefit amounts under Section 215(i)(2)(A) of the Social Security Act.

Notice 2022-53, 2022-45 I.R.B. 437
This notice announces that the Department of the Treasury and the Internal Revenue Service intend to issue final regulations related to required minimum distributions under section 401(a)(9) of the Internal Revenue Code that will apply no earlier than the 2023 distribution calendar year. In addition, this notice provides guidance related to certain provisions of section 401(a)(9) that apply for 2021 and 2022 and the related excise tax under section 4974.

Notice 2020-52, 2022-29 I.R.B. 79
Clarifies the requirements that apply to a mid-year amendment to a safe harbor 401(k) or IRC 401(m) plan that reduces only contributions made on behalf of highly compensated employees (HCEs), as defined in IRC 414(q). This notice also provides temporary relief in connection with the ongoing Coronavirus Disease 2019 (COVID-19) pandemic from certain requirements that would otherwise apply to a mid-year amendment to a safe harbor 401(k) or 401(m) plan adopted between March 13, 2020, and August 31, 2020, that reduces or suspends safe harbor contributions.

Notice 2020–51, 2022-20 I.R.B. 73
Provides guidance relating to the waiver of 2020 required minimum distributions, described in IRC 401(a)(9), from certain retirement plans under section 2203 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. In particular, the notice permits rollovers of waived required minimum distributions (RMDs) and certain related payments, including an extension of the 60-day rollover period for certain distributions to August 31, 2020; answers questions relating to the waiver of 2020 RMDs; and provides a sample plan amendment that, if adopted, would provide participants a choice whether to receive waived RMDs and certain related payments.

Notice 2022-45, 2022-42 I.R.B. 301
Extends the deadlines for amending an eligible retirement plan (including an individual retirement arrangement or annuity contract) to reflect the provisions of section 2202 of the CARES Act, and section 302 of Title III of the Taxpayer Certainty and Disaster Tax Relief Act of 2020, enacted as Division EE of the Consolidated Appropriations Act, 2021, Pub. L. 116-260, 134 Stat. 1182. With respect to an amendment made to reflect provisions of section 2202 of the CARES Act, the period during which the amendment is eligible, if applicable, for relief from the anti-cutback requirements of IRC 411(d)(6) or section 204(g) of the Employee Retirement Income Security Act of 1974, Pub. L. 93 406, 88 Stat. 829, as amended, is extended to the applicable extended plan amendment deadline.

Notice 2022-33, 2022-34 I.R.B. 147
Extends the deadlines for amending a retirement plan or IRA to reflect the provisions of Division O of the Further Consolidated Appropriations Act, 2020, known as the SECURE Act and section 104 of Division M of the Further Consolidated Appropriations Act, 2020, known as the Bipartisan American Miners Act of 2019. In addition, this notice extends the deadline for amending a retirement plan to reflect the provisions of section 2203 of the Coronavirus Aid, Relief, and Economic Security Act. With respect to amendments made to reflect provisions of the SECURE Act, the notice also provides relief from the anti-cutback requirements of IRC 411(d)(6) or section 204(g) of the Employee Retirement Income Security Act of 1974.

Notice 2022-27, 2022-22 I.R.B. 1151
This notice is a 6-month extension of the relief provided in Notice 2020-42, as extended by Notice 2021-3 and Notice 2021-40. For the period from July 1, 2022, through December 31, 2022, this notice extends two types of relief from the physical presence requirement in Section 1.401(a)-21(d)(6)(i) for participant elections required to be witnessed by a plan representative or a notary public: (1) temporary relief from the physical presence requirement for any participant election witnessed by a notary public in a state that permits remote notarization (either by law or through an executive order), and (2) temporary relief from the physical presence requirement for any participant election witnessed by a plan representative.

Rev. Proc. 2022-40, 2022-47 I.R.B. 487
Rev. Proc. 2022-40 provides the circumstances under which a plan sponsor may submit a determination letter application to the IRS with respect to a qualified individually designed plan, to permit the submission of determination letter applications for section 403(b) individually designed plans.

Rev. Proc. 2022-28, 2022-27 I.R.B. 65
Amplifies Rev. Proc. 2022-3, 2022-1 IRB 144, which sets forth areas of the Code relating to issues on which the IRS will not issue letter rulings or determination letters. This revenue procedure announces that the IRS will not issue letter rulings on whether certain transactions result in an employer reversion within the meaning of IRC Section 4980(c)(2).

Rev. Rul. 2022-24, 2022-51 I.R.B. 551
Provides tables of covered compensation under IRC section 401(l)(5)(E) and the Income Tax Regulations thereunder, for the 2023 plan year.

REG-106384-20, 2022-20 I.R.B. 1076
Proposed regulations prescribing mortality tables to be used by most defined benefit pension plans. The tables specify the probability of survival year-by-year for an individual based on age, gender, and other factors.

Notice 2022-22, 2022-20 I.R.B. 1057
Sets forth the updated mortality improvement rates and static mortality tables that are used for purposes of determining minimum funding requirements under Section 430(h)(3) for 2023 and minimum present value under Section 417(e)(3) for distributions with annuity starting dates that occur during stability periods beginning in the 2023 calendar year.

REG-121508-18, 2022-15 I.R.B. 996
Sets forth proposed regulations relating to certain multiple employer plans (MEPs) described in the Code. The proposed regulations provide an exception, if certain requirements are met, to the application of the “unified plan rule” for MEPs in the event of a failure by one or more employers participating in the plan to take actions required of them to satisfy the applicable requirements of the Code.

REG-105954-20, 2022-11 I.R.B. 828
Contains proposed regulations relating to required minimum distributions from qualified plans; section 403(b) annuity contracts, custodial accounts, and retirement income accounts; individual retirement accounts and annuities; and eligible deferred compensation plans under section 457. These regulations will affect administrators of, and participants in, those plans; owners of individual retirement accounts and annuities; employees for whom amounts are contributed to section 403(b) annuity contracts, custodial accounts, or retirement income accounts; and beneficiaries of those plans, contracts, accounts, and annuities.

Notice 2022-8, 2022-7 I.R.B. 491
Sets forth the 2022 Cumulative List of Changes in Section 403(b) Requirements for Section 403(b) Pre-approved Plans (2022 Cumulative List). The 2022 Cumulative List will assist providers of section 403(b) pre-approved plans applying to the IRS for opinion letters for the second remedial amendment cycle (Cycle 2) under the IRS’s section 403(b) pre-approved plan program. The 2022 Cumulative List identifies changes in the requirements of section 403(b) that will be taken into account by the IRS with respect to a plan document submitted to the IRS for Cycle 2 and that were not taken into account during the first remedial amendment cycle. 

Announcement 2022-6, 2022-13 I.R.B. 934
Effective March 14, 2022, and until further notice, the IRS will not accept applications for opinion letters on prototype IRAs (traditional, Roth and SIMPLE IRAs), SEPs (including salary reduction SEPs (SARSEPs)), and SIMPLE IRA plans. This announcement also provides that, pending issuance of future guidance (1) adopters of prototype IRAs, SEPs, and SIMPLE IRA plans may rely on a previously received favorable opinion letter, and (2) taxpayers may use existing model forms to maintain current plans and accounts or establish new plans and accounts.

Notice 2022-6, 2022-05 I.R.B. 460
Updates the life expectancy and mortality tables used to determine substantially equal periodic payments under the methods set forth in Rev. Rul. 2002-62 and provides a 5 percent floor on the maximum interest rates that may be used to calculate annuity payments under the fixed amortization and annuitization methods. This notice also modifies the guidance in Notice 2004-15 to apply these changes for purposes of section 72(q).

Rev. Rul. 2022-2, 2022-4 I.R.B. 451 
Provides tables of covered compensation under IRC Section 401(l)(5)(E) and the Income Tax Regulations thereunder, for the 2022 plan year.

Rev. Proc. 2022-4, 2022-1 I.R.B. 161
Updates Rev. Proc. 2021-4, 2021-1 IRB 157, relating to the types of advice the IRS provides to taxpayers on issues under the jurisdiction of the Commissioner, Tax Exempt and Government Entities Division, Employee Plans Rulings and Agreements. Specifically, this revenue procedure updates the procedures that apply to requests for determination letters and private letter rulings, and the user fees applicable to submissions made for letter ruling requests and opinion letters on pre-approved plans.

Notice 2021-64, 2021-50 I.R.B. 869
Contains the 2021 Required Amendments List. The Required Amendments List establishes the end of the remedial amendment period and the plan amendment deadline for changes in qualification requirements and section 403(b) requirements set forth on the list for qualified individually designed plans and section 403(b) individually designed plans, respectively.

Notice 2021-61, 2021-47 I.R.B. 738
IRC Section 415 provides for dollar limitations on benefits and contributions under qualified retirement plans.

Notice 2021-57, 2021-44 I.R.B. 706 
Provides guidance to multiemployer defined benefit pension plan sponsors and actuaries on the application of funding relief under IRC Section 431 and elections under IRC Section 432 in accordance with Sections 9701, 9702 and 9703 of the American Rescue Plan Act of 2021, which provide relief for losses incurred on account of the COVID-19 pandemic.

Notice 2021-48, 2021-33 I.R.B. 305
Provides guidance on the changes to the funding rules for single-employer defined benefit pension plans under IRC Section 430 that were made by Sections 9705 and 9706 of the American Rescue Plan Act of 2021.

Rev. Proc. 2021-38, 2021-38 I.R.B. 425

Modifies Rev. Proc. 2016-37 to extend the deadline for adopting an interim amendment for a Section 401(a) pre-approved plan to match the deadline for adopting an interim amendment for a Section 403(b) pre-approved plan, which is set forth in Rev. Proc. 2021-37.

Rev. Proc. 2021-37, 2021-38 I.R.B. 385

Sets forth the procedures of the IRS for issuing opinion letters regarding the satisfaction in form of Section 403(b) pre-approved plans with respect to the requirements of IRC Section 403(b) for the second remedial amendment cycle (Cycle 2). This revenue procedure also sets forth the rules for determining when remedial amendment periods expire for Section 403(b) pre-approved plans.

Notice 2021-38, 2021-30 I.R.B. 155
Provides guidance under IRC Section 432(k) to sponsors of multiemployer defined benefit pension plans that are required to reinstate certain previously suspended benefits as a condition of receiving special financial assistance under Section 4262 of ERISA. This notice also provides guidance on whether make-up payments with respect to previously suspended benefits are eligible to be rolled over to another eligible retirement plan under IRC Section 402(c). In addition, this notice provides guidance on how to apply the rule in IRC Section 432(k)(2)(D)(i) under which any special financial assistance received by the plan is not taken into account in determining contributions required under IRC Section 431.

Rev. Proc. 2021-30, 2021-31 I.R.B. 172
Updates the comprehensive system of correction programs for sponsors of retirement plans that are intended to satisfy the requirements of IRC Sections 401(a), 403(a), 403(b), 408(k), or 408(p), but that have not met these requirements for a period of time. This system, the Employee Plans Compliance Resolution System (“EPCRS”), permits Plan Sponsors to correct these failures and thereby continue to provide their employees with retirement benefits on a tax-favored basis. The components of EPCRS are the Self-Correction Program (“SCP”), the Voluntary Correction Program (“VCP”), and the Audit Closing Agreement Program (“Audit CAP”).

Rev. Rul. 2021-3, 2021-05 I.R.B. 674
Provides tables of covered compensation under IRC Section 401(l)(5)(E) effective January 1, 2021.

T.D. 9937, 2021-04 I.R.B. 495
Sets forth final regulations relating to amendments made to IRC Section 402(c) by Section 13613 of the Tax Cuts and Jobs Act, Public Law 115-97 (131 Stat. 2054). Section 13613 provides an extended rollover period for a qualified plan loan offset, which is a type of plan loan offset.

Notice 2021-03, 2021-02 I.R.B. 316
Provides a six-month extension of the relief provided in Notice 2020-42. For the period from January 1, 2021, through June 30, 2021, this notice extends two types of relief from the physical presence requirement in Section 1.401(a)-21(d)(6)(i) for participant elections required to be witnessed by a plan representative or a notary public: (1) temporary relief from the physical presence requirement for any participant election witnessed by a notary public in a state that permits remote notarization (either by law or through an executive order), and (2) temporary relief from the physical presence requirement for any participant election witnessed by a plan representative. This temporary relief is extended in order to further accommodate local shutdowns and social distancing practices in response to the Coronavirus Disease 2019 pandemic (COVID-19 Emergency). This notice also solicits comments on the relief.

Rev. Proc. 2021-4, 2021-01 I.R.B. 157
Updates Rev. Proc. 2020-4, 2020-1 I.R.B. 148, relating to the types of advice the IRS provides to taxpayers on issues under the jurisdiction of the Commissioner, Tax Exempt and Government Entities Division, Employee Plans Rulings and Agreements, and the procedures that apply to requests for determination letters and private letter rulings.