Tag: IRS

ERIC Calls Foul in DOL’s Missing Participant Push

In an open letter asking for more detailed guidance, the ERISA Industry Committee spells out what it says are “examples of missteps” by the DOL, including “issuing letters asserting breaches of fiduciary duty when there is no applicable legal guidance.”

PBGC Sets Disaster Relief on IRS Autopilot

With some exceptions, PBGC premium payers and data providers can now assume filing relief from the pension insurer in each case that the IRS issues its own disaster-related relief that impacts the filing of Forms 5500.

IRS and DOL Asked for Better Guidance on Missing Participants

The Plan Sponsor Council of America has heard concerns from its members that they have been or may be subjected to enforcement actions even though the DOL and IRS have not issued comprehensive guidance on missing participants that provide a clear roadmap for compliance.

IRS Reverses Change in HSA Limit

The IRS says it is reversing the change to the limitation because stakeholders informed it that implementing the $50 reduction to the limitation on HSA contributions for an individual with family coverage under an HDHP would impose numerous unanticipated administrative and financial burdens.

IRS Modifies VCP User Fees

The agency also issued information about how to obtain or re-establish an employer identification number (EIN) for a retirement plan trust.