Category Archives: IRS

IRS Extends Plan Document Deadline to Jan. 31, 2012

The IRS released Rev. Proc. 2011-49 today (Oct. 5, 2011). Rev. Proc. 2011-49 is the update to Rev. Proc. 2005-16, and officially supersedes Rev. Proc. 2005-16. Rev. Proc. 2005-16 contained the specifics on applying for EGTRRA opinion/advisory letters during the … Continue reading

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IRS Issues Mandatory Model Notice for Nonelecting Church Plans

Last week, I was fortunate to attend the IRS’ phone forum on Current Developments and Issues from the office of Employee Plans Rulings and Agreements. As with all IRS phone forums, it was excellent. During that forum, the IRS said … Continue reading

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Free ERPA CPE from the IRS on Monday, Sept. 12, 2011

The IRS is hosting a free phone forum on Monday, Sept. 12, 2011, on Participant Loans. The webinar will focus on the treatment of loans as distributions under Code section 72(p), their taxability, and their relationship with Code section 4975 … Continue reading

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Are Employer Provided Cell Phones Coming Soon to Definition of Compensation

On Friday (Sept. 2, 2011), the IRS released the 2011-2012 Priority Guidance Plan (PGP). 37 items in the PGP relate to retirement plans, and 29 items relate to Executive Compensation, Health Care and Other Benefits, and Employment Taxes. More about … Continue reading

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IRS Updates FAQ on Hardship Distributions

The IRS has posted a new FAQ on hardship distributions. It includes a handy list of items which plan administrators should follow when processing a hardship distribution. It starts with this reminder: A plan may only make a hardship distribution: … Continue reading

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IRS Seeks Comments on ERPA CPE Redesign

On July 18, 2011, the IRS issued Notice 2011-61 seeking comments on how ERPA CPE should be provided. The IRS must receive comments by August 17, 2011. The Notice contains the email address for submitting comments electronically and also the … Continue reading

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Can a Multiple Employer Plan use a Prototype Plan Document?

Can a 413(c) multiple employer plan use a pre-approved prototype plan document? I am asked this question frequently, and I’m not sure what the answer is. Will the IRS accept a 413(c) multiple employer plan created by using a pre-approved … Continue reading

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Free ERPA Ethics CPE from the IRS

On July 29, 2011, at 2pm ET (11am PT), the IRS is hosting a phone forum on Ethics for Employee Plans Practitioners. Karen Hawkins, the Director of the IRS’ Office of Professional Responsibility and Gabriel Minc, a Senior Tax Law … Continue reading

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Have Ethics Presentation and Will Travel

One of my favorite ERPAs called today.  He is a member of a small regional group of retirement plan professionals.  The group has a non-existent budget for speakers, and everyone in the group needs ethics CE.  They were wondering if … Continue reading

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IRS Lowers Fee for Becoming or Staying an ERPA or Enrolled Agent

“A public hearing was scheduled for January 14, 2011.  The IRS did not receive any requests to testify at the public hearing, and the hearing was cancelled.” You may be asking – how is it possible that the IRS schedule … Continue reading

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