News & Information
5500 Preparer's Manual for 2012 Plan Years
The premier resource in the field of Form 5500 preparation, 5500 Preparer's Manual will help you handle the required annual Form 5500 filings for both pension benefits and welfare benefit plans.
CCH® PENSION AND BENEFITS — 5/05/08
IRS updates 2007-2008 Priority Guidance Plan
The Treasury Department and IRS have issued the first periodic update to the 2007-2008 Priority Guidance Plan, which details the guidance action items for the current fiscal year, as well as regularly scheduled guidance.
Retirement plan guidance
The action items for 2007-2008 affecting retirement plans that are still outstanding include the following:
- Guidance regarding the treatment of incidental health insurance benefits provided under a profit-sharing or stock bonus plan.
- Update of Employee Plans Compliance Resolution System (EPCRS).
- Proposed regulations under Code Sec. 401(a) (9) on required minimum distribution rules for governmental plans, as directed by the Pension Protection Act of 2006 (PPA; P.L. 109-280).
- Update of the model notice under Code Sec. 402(f) relating to eligible rollover distributions.
- Final regulations on converting an IRA annuity to a Roth IRA annuity.
- Proposed regulations under Code Sec. 411(a) (11) to provide a description of the consequences of failing to defer, as directed by the PPA.
- Final regulations on the funding of single employer plans under Code Sec. 430 , as added by the PPA.
- Proposed regulations on accrual rules for defined benefit plans.
Health and executive comp guidance
Guidance planned for 2007-2008 in the health care and executive compensation areas to be completed includes:
- Proposed regulations under Code Sec. 409A on the calculation of income inclusion and additional taxes.
- Update of regulations under Code Sec. 423 regarding employee stock purchase plans.
- Guidance on discrete issues on Health Savings Accounts (HSAs).
- Notice regarding rollovers from an IRA to an HSA.