Our Blog - Surety Matters

Novel guidance has been published by the Internal Revenue Service, who extended the rollback period for minimum distributions already taken this year. The guidance encompasses a series of FAQs and offers plans with sample amendments…
Read Moreabout IRS Grants RMDs Rollover Relief

The IRS has prolonged relief to plan participants whose significant others are laid off and take COVID-19-related loans or distributions from their retirement accounts, as well as offered novel safe harbors for loan repayments. Per…
Read Moreabout IRS Extends COVID-19 Relief for Plan Participants

The Internal Revenue Service has offered brief administrative relief to assist specific retirement beneficiaries or plan participants eager to make participant elections by permitting flexibility for remote signatures. Published on June 3, Notice 2020-42 gives…
Read Moreabout IRS Signs Off on Temporary Remote Signature Relief

On May 28, the IRS issued Notice 2020-35, offering more administrative relief on deadlines applicable to employee benefits, employment taxes and exempt establishments impacted by COVID-19. Per Code Section 7508A, the Internal Revenue Service is…
Read Moreabout IRS Issues Additional COVID-19 Relief

When it comes to managing an employee benefit plan, even if a plan sponsor commits a very small plan violation, such an incident can result in hefty ERISA penalties. Even failing to file Form 5500…
Read Moreabout Detrimental Assumptions Plan Sponsors Make

The Internal Revenue Service just announced next year’s inflation-adjusted quantities of health saving accounts. In Rev. Proc. 2020-32, the IRS states that the annual limitation on deductions under Code Section 223(b)(2)(A) for a person with…
Read Moreabout IRS Publishes 2021 Amounts for HSA Limits

As numerous Americans continue to work remotely during the start of the summer, the Labor Department has introduced a brand new safe harbor for electronic disclosures. The final rule initiated is congruent to the rule…
Read Moreabout Department of Labor Unveils Novel Safe Harbor for E-Delivery

In a May 11th letter to the Director of the IRS Office of Employee Plans, the American Retirement Association suggested enhancements in the interim amendment process for pre-approved plan documents. The ARA indicates that the…
Read Moreabout ARA Endorses Interim Amendment Process Improvements for Pre-Approved Plans

For those who are perplexed about the recent CARES Act legislation, the IRS has some answers for you. The organization laid out 14 common questions and answers to the May 4 Q&As concern Section 2202…
Read Moreabout IRS Answers Common CARES Act Questions