The American Retirement Association wrote to the Internal Revenue Service in response to IRS Notice 2018-95 to ask for further clarifications with respect to the Once-In Always-In (OIAI) rule. (more…)

The American Retirement Association and certain individual retirement industry firms wrote to the Internal Revenue Service to request a meeting on an urgent matter relating to the final hardship distribution rules asking for an extension for the interim amendment deadline for providers of prototypes and/or mass volume submitter retirement plans. (more…)

The American Retirement Association wrote to the Internal Revenue Service on their proposal to provide an exception to the unified plan rule (or one bad apple rule) for defined contribution multiple employer plans (MEPs) to recommend a more expansive process to cover additional situations as well as specific recommendations on the procedures contained in the...

The American Retirement Association wrote to the Internal Revenue Service on proposed regulations pertaining to hardship distributions from section 401(k) plans. The proposed regulations reflect changes to the law made by the 2017 tax reform bill known as the Tax Cuts and Jobs Act and the Bipartisan Budget Act of 2018. (more…)

The American Retirement Association wrote to the Internal Revenue Service to ask for relief for taxpayers and service providers adversely affected by Hurricane Florence. Specifically, American Retirement Association asked for hardship distribution relief and Form 5500 filing deadline relief patterned on past IRS announcements in the wake of Hurricane Sandy in 2012. (more…)

The American Retirement Association wrote to the Internal Revenue Service to provide input on Revenue Procedure 2017-41, the revision of the pre-approved plan document program. The letter asks for clarification on certain provisions of the new procedures, make recommendations for further enhancements, and requests a 5-month extension of the submission deadline for Cycle 3 defined...