Newsletter Email - February 3, 2012

401(k) Compliance Check Questionnaire Interim Report

An interim report summarizing plan sponsors’ responses to the 401(k) Compliance Check Questionnaire is now available.

The Questionnaire asked about plan features and operations for the 2006 through 2008 plan years.

• Highlights of Findings
• Interim Report (PDF – 65 pages)
• Comments from Monika Templeman, Director of EP Examinations
• FAQs regarding the Interim Report
• Phone Forum – March 6, 2012 session about the Interim Report

Newsletter Email - January 11, 2012

Form 8955-SSA Participant Notice Requirements

A new FAQ addresses when a plan administrator may answer “yes” to Question 8, affirming that the required information was timely furnished to participants.

Issue 2011-9, December 20, 2011

Print Version of Newsletter (PDF)

Examination Issues:

• Exam Director discusses priorities for the current Fiscal Year
• S corporations’ shareholders may not make retirement plan contributions from distributions
• Leased Employees - EPCU Project to determine if plan sponsors are properly considering leased employees

Determination Letter Program:

• Need a Copy or a Corrected Determination Letter? Fax or send us a written request
• Revised Form 5300, lines 3 and 12
• Abandoned Pre-Approved Plans - what sponsors need to do when eliminating a plan

Form 5500:

• Electronic signatures for 5500 series returns
• File Your One-Participant Plans electronically using Form 5500-SF; they are now excluded from online search database

Just Released:

• 2011 Cumulative List of Changes in Plan Qualification Requirements - Notice 2011-97
• Relief for IRA owners who have certain agreements with their brokers or financial institutions – Announcement 2011-81
• Section 436 amendments - Sample amendment and extensions for defined benefit plan sponsors – Notice 2011-96

Updated Products and Publications:

• Publication 1588, The Retirement Plan Products Navigator bookmark with COLA limits
• Publication 3636, Employee Plans
• Publication 4284, SIMPLE IRA Plan Checklist

Preparer Tax Identification Number (PTIN) News:

• Renew by January 1, 2012
• New Competency Tests
• New FAQs: Online Troubleshooting Tips
• Notice 2011-91 - Enrolled Retirement Plan Agents may not need a PTIN

In the News:

• DOL Corner
• PBGC Insights

Exempt Organizations' Opportunities:

• 2012 Summer Internship for graduate students in Washington, DC
• Spring 2012 Workshops for Small and Medium-Sized 501(c)(3) Exempt Organizations

Free File - help others save money at tax time with IRS Free File

Recurring Columns:

• EP Published Guidance
• Calendar of EP Benefits Conferences

Issue 2011-8, December 16, 2011

Print Version of Newsletter (PDF)

• Significant changes to the Employee Plans Determination Letter Program - Announcement 2011-82
  
  
• Relief for IRA owners who have certain agreements with their brokers or financial institutions - Announcement 2011-81
  
  
• 2011 Cumulative List of Changes in Plan Qualification Requirements - Notice 2011-97

Newsletter Email - November 7, 2011

Request for Comments - Governmental Plans
IRS and Treasury solicit comments on possible standards for determining if a plan is a governmental plan under IRC section 414(d).

The Employee Plans News is a periodic IRS newsletter with retirement plan information for retirement plan practitioners.

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