the publication explains the new provisions which allow enhanced access to plan loans and plan distributions. 

CARES Act Guidance for Plan Sponsors and Participants Updated

Fulcrum Partners. Deferred Compensation News

On June 19, 2020, the Internal Revenue Service (IRS) updated and clarified issues of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) guidance for plan sponsors and plan participants. Issued as Notice 2020-50 (“Guidance for Coronavirus-Related Distributions and Loans from Retirement Plans Under the CARES Act,”) the publication explains the new provisions which allow enhanced access to plan loans and plan distributions. 

Separation from service under 409A

Defining “Separation from Service” under Section 409A

Fulcrum Partners. Deferred Compensation News

The atypical circumstances of recent months have created new situations most organizations have not previously faced. Every employer needs a clear understanding of which workforce reduction circumstances could constitute a “separation of service” and thereby trigger payment of benefits for plan participants covered by a nonqualified deferred compensation agreement (NQDC).

Does Furlough Constitute a Separation from Service Under IRC 409A

Does Furlough Constitute a Separation from Service Under IRC 409A

Fulcrum Partners. Deferred Compensation News

The COVID-19 pandemic has brought operational challenges and financial strain to businesses in every sector. While some organizations have terminated employees, other businesses have been able to furlough some of, or all, their workforce instead. How the employer handles the furlough is important for many reasons, including how the guidelines of Internal Revenue Code Section 409A (IRC 409A) impact decisions made by both employer and employee.

Compliance Calendar for Retirement Plans

March Compliance Calendar for Retirement Plans and Other Benefit Plans

Fulcrum Partners. Human Resources

Here is a checklist of 2020 compliance deadlines, covering retirement plans along with other health and welfare benefit plans. Thank you IslerDare PC for providing this information. Here are key March Deadlines for 2020: Date Action By March 1: File DOL1 Form M-1 for MEWA2s By March 2: Provide 2019 ACA3 information reporting returns (Forms 1095-B and 1095-C) to individuals By March 15: …

Checking contract

Unpacking Proposed Regulations by IRS and the Treasury Department on Changes to Section 162(m)

Fulcrum Partners. Executive Benefits News

Winston & Strawn Partner Michael Melbinger continues his analysis of the proposed regulations that have been issues by the Internal Revenue Service (IRS) and the Treasury Department on changes to Tax Code Section 162(m). The following article first appeared on the  Executive Compensation Blog on January 13, 2020, and is republished here with the author’s permission. #executivecomp #fulcrumpartners #IRS #162m

NQDC Plan Compliance with ERISA

For an NQDC Plan, Being Subject to ERISA May Be A Good Thing

Fulcrum Partners. Deferred Compensation News

This Sixth Circuit Court of Appeals decision involving a nonqualified deferred compensation plan (NQDC) shows why it can be important for a nonqual plan to comply with Internal Revenue Code Section 409A compliance and the Employee Retirement Income Security Act of 1974 (ERISA) claims procedures. Fulcrum Partners shares these important insights from attorneys Greg Daugherty and Dave Tumen of Porter Wright, first …

EPCRS isler-dare-irs-updates-09-2019

IRS Updates Determination Letter Program and Revises Correction Procedures Under EPCRS

Fulcrum Partners. Human Resources

Isler Dare Employee Benefits Update Re: IRS Updates Determination Letter Program and Revises Correction Procedures Under Employee Plans Compliance Resolution System (EPCRS) This employee benefits update (first published May 2019)  is provided courtesy of Isler Dare PC (www.islerdare.com) and was written by Andrea I. O’Brien, Vi D. Nguyen, Jeanne Floyd, and Ashley F. Hedge. Recent Legal Developments for Employee Benefit …

Make a Mistake on Your Estimated Taxes? You’ll Get a Little Grace from the IRS This Year

Make a Mistake on Your Estimated Taxes? You’ll Get a Little Grace from the IRS This Year

Fulcrum Partners. Deferred Compensation News

With the Tax Cuts and Jobs Act (TCJA) of 2017 overhauling many aspects of personal income tax, this year’s filing is sure to be challenged by plenty of tax payer confusion. On January 16, the Internal Revenue Service (IRS) announced that it would be waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated …