EBIA Weekly Newsletter

IRS Issues 2016 Required Amendments List for Qualified Retirement Plans; No New Required Amendments for 401(k) Plans


   December 22, 2016

IRS Notice 2016-80 (Dec. 13, 2016) Available at https://www.irs.gov/pub/irs-drop/n-16-80.pdf In Revenue Procedure 2016-37, the IRS set forth new remedial amendment and determination letter submission rules to replace the staggered five-year remedial amendment cycles for individually designed retirement plans (see our Checkpoint article). The new rules, which are effective … Read More


IRS Simplifies User Fee Relief for Small Employer Plan Determination Letter Requests


   December 22, 2016

Notice 2017-1 (Dec. 16, 2016) Available at https://www.irs.gov/pub/irs-drop/n-17-01.pdf The IRS has issued a notice simplifying the requirements for certain small employers to avoid paying a user fee when submitting recently established retirement plans (including 401(k) plans) for determination letters. The notice modifies the user fee relief under Code § 7528(b)(2), which waives the … Read More


IRS Issues Special Instructions for Using VCP Submission Forms 8950 and 14568-B Beginning January 2017


   December 22, 2016

IRS Webpage: Forms 8950 and 14568-B –Additional Instructions for VCP Submissions Beginning January 1, 2017 Available at https://www.irs.gov/retirement-plans/forms-8950-and-14568-b-additional-instructions-for-vcp-submissions-beginning-january-1-2017 The IRS has posted additional instructions for using Forms 8950 and 14568-B for Voluntary Correction Program (VCP) submissions beginning January 1, 2017. As background, revised VCP submission procedures effective on that date (under Revenue Procedure … Read More


How Can I Find Benefits-Related Information on the IRS Website?


   December 22, 2016

QUESTION: I know the IRS website has information about employee benefit issues, but I have trouble quickly finding what I want. Which IRS webpages are the most useful for plan sponsors and benefit professionals? ANSWER: There is quite a bit of useful benefits-related information on the IRS website. Here are the webpages we use most … Read More