News & Resources
Employee Benefit Plans
How to pick a qualified employee benefit plan auditor
ERISA generally requires employee benefit plans with 100 or more participants to have their annual reports audited. Plan administrators have fiduciary responsibilities to hire independent qualified public accountants to perform quality audits. Read more
Retroactive Retirement Plans Can Skip First Form 5500
On August 6, 2021, the IRS explained in an announcement (available here) that certain retirement plans adopted after the close of the employer's taxable year will not be required to file a 2020 Form 5500. Read more
Certain 2018 Form 5500 Due Dates Extended
IRS Notice 2020-23 provides additional time for employee benefit plan sponsors to file 2018 Forms 5500 due on or after April, 1, 2020 and before July 15, 2020. Plans with original due dates or extended due dates falling within this period now have until July 15, 2020 to file their forms. Read more
Employee benefit plans: Do you need a Form 5500 audit?
Some benefit plans are required to include an opinion from an independent qualified public accountant (IQPA) when filing Form 5500 each year. Read more
SECURE Act Changes the Required Minimum Distribution Age from 70-1/2 to 72
The "Setting Every Community Up for Retirement Enhancement Act of 2019" (the SECURE Act) was signed into law on December 20, 2019. The SECURE Act lays out major changes for retirement plans and IRAs, and creates a new pooled multiple employer plan. This is a summary of the changes. Read more
Health Care Reporting Forms: 30-Day Extension Of Distribution Deadline and Penalty Relief
Similar to prior years, the IRS has again announced that employers have more time to distribute 2019 health coverage information returns to employees. However, the deadline for filing these forms with the IRS has not changed. Read more
Are you prepared for IRS Letter 226-J?
If you are an employer with at least 50 employees or 50 full-time equivalents, otherwise known as an applicable large employer (ALE), you've been doing your best to comply with the Affordable Care Act (ACA). But what happens when you receive the dreaded IRS Letter 226-J? Read more
IRS Inflation Adjustments
2020 Inflation Adjustments for Pension Plans, Retirement Accounts Released Read more
DOL Issues Long-Awaited Proposed Overtime Rules
On March 7, 2019, the U.S. Department of Labor (DOL) finally issued proposed overtime rules as a result of extensive public input. Read more