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.

REG-132210-18, 2019-48 I.R.B. 1232
Proposed regulations that would update the life expectancy and distribution period tables that are used to calculate required minimum distributions from qualified retirement plans, individual retirement accounts and annuities, and certain other tax-favored retirement arrangements.

Notice 2019-59, 2019-47 I.R.B. 1091
IRC Section 415 provides for dollar limitations on benefits and contributions under qualified retirement plans. Section 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 Section 415. Under Section 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.

TD 9875, 2019-41 I.R.B. 856
Final regulations amending the current regulations under Section 401(k) relating to hardship distributions. Bipartisan Budget Act of 2018 Section 41113 directs the Secretary to remove the requirement in the current regulations that an employee’s plan contributions be suspended for at least 6 months following a hardship distribution from the plan.

Notice 2019-49, 2019-37 I.R.B. 699
Extends the temporary nondiscrimination relief for closed defined benefit plans that is provided in Notice 2014-5, 2014-2 I.R.B. 276, by making that relief available for plan years beginning before 2021 if the conditions of Notice 2014-5 are satisfied.

Rev. Rul. 2019-19, 2019-36 I.R.B. 674
Provides that an individual’s failure to cash a distribution check from a qualified plan does not permit the individual to exclude the amount of the designated distribution from gross income under IRC Section 402(a) and does not alter an employer’s withholding and reporting obligations under IRC Sections 3405 and 6047(d).

REG-121508-18, 2019-30 I.R.B. 456
Proposed regulations relating to the tax qualification of plans maintained by more than one employer. These plans are often referred to as multiple employer plans or MEPs. The proposed regulations would provide an exception, if certain requirements are met, to the application of the “unified plan rule” for a defined contribution MEP in the event of a failure by an employer participating in the plan to satisfy a qualification requirement or to provide information needed to determine compliance with a qualification requirement. These proposed regulations would affect MEPs, participants in MEPs (and their beneficiaries), employers participating in MEPs, and MEP plan administrators.

Rev. Proc. 2019-20, 2019-20 I.R.B. 1182
Provides for a limited expansion of the determination letter program with respect to individually designed plans. It also provides for a limited extension of the remedial amendment period under IRC Section 401(b) and Rev. Proc. 2016-37 under specified circumstances, and for special sanction structures that apply to certain plan document failures discovered by the IRS during the review of a plan submitted for a determination letter pursuant to this revenue procedure.

Rev. Proc. 2019-19, 2019-19 I.R.B. 1086
Modifies and supersedes Rev. Proc. 2018-52, the most recent prior consolidated statement of the correction programs under EPCRS. This update is a limited update and is published primarily to expand SCP eligibility to permit correction of certain Plan Document Failures and certain plan loan failures, and to provide an additional method of correcting Operational Failures by plan amendment under SCP.

Rev. Rul. 2019–06, 2019-14 I.R.B. 919
Provides tables of covered compensation under IRC Section 401(l)(5)(E) and the Income Tax Regulations thereunder, effective January 1, 2019.

Notice 2019–18, 2019-13 I.R.B. 915
Inform taxpayers that the Department of the Treasury and the Internal Revenue Service no longer intend to amend the required minimum distribution regulations under IRC Section 401(a)(9) to address the practice of offering retirees and beneficiaries who are currently receiving annuity payments under a defined benefit plan a temporary option to elect a lump-sum payment in lieu of future annuity payments.

Rev. Proc. 2019–4, 2019-1 I.R.B. 146
Contains revised procedures for determination letters and letter rulings issued by the Commissioner, Tax Exempt Agreements Office. Rev. Proc. 2018–4 is superseded.