Required Modifications News Today

In a bit of good news for plan sponsors, the IRS announced in Notice 2022-33 on August 3, 2022, that it is extending upcoming plan amendment deadlines under the Setting Every Community...

The Internal Revenue Service recently issued its List of Required Modifications (LRMs) for pre-approved plan documents that are commonly used by employers that offer and/or contribute...

The IRS recently issued an updated Listing of Required Modifications and Information Package (known as the “LRMs”) for 403(b) plans. These LRMs contain quite a few changes, from simple ...

An information package contains a listing of required modifications and sample language for nearly any provision a plan might include.

The Internal Revenue Service (IRS) is temporarily suspending the IRS Prototype Opinion Letter Program for individual retirement accounts and individual retirement annuities (IRAs)...

The IRS recently announced (in Announcement 2022-6) that effective as of March 14, 2022, and until further notice, the IRS will not accept applications — IRS Forms 5306 and 5306-A — for...

Background - Back in 2013, the IRS opened its first 6-year cycle of reviewing and issuing opinion letters on 403(b) pre-approved documents. Most of the approval letters...

American Retirement Association Issues Public Comment on IRS Notice Targeted News Service Kelsey Mayo, director for regulatory policy, at the American Retirement Association, Arlington, Virginia, have issued a public comment on the Internal Revenue Service notice entitled "Request for Comments Regarding Protection of ERISA Sec. 205 Spousal Rights Under a Terminating Sec. 403(b) Plan Funded Through the Use of Custodial Accounts". The comment was written on Feb. 3, 2021, and posted on Feb. 4...