| 01/20/2012 | DOL Letter on Swap Dealers and Major Swap Participants | | | January 20, 2012 – The Department of Labor (DOL) has released a letter sent to the Commodity Futures Trading Commission’s (CFTC) expressing the DOL’s opinion on the interaction of the CFTC’s conduct rules for swap dealers and major swap participants and the DOL’s ERISA Fiduciary regulations.
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| 01/13/2012 | IRS Posts 2012 Form 8905 | | | January 13, 2012 – The IRS has posted a January 2012 version of Form 8905, Certification of Intent to Adopt a Pre-Approved Plan. This form is filed by retirement plans that are intending to transition from an individually-designed plan document to a pre-approved document by the end of the next six-year pre-approved plan restatement cycle.
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| 01/12/2012 | IRA Releases Updated HSA Publication | | | January 12, 2012 – The IRS has released the 2011 tax year Publication 969, Health Savings Accounts and Other Tax-Favored Health Plans. This publication describes the characteristics and compliance requirements of HSAs and Archer medical savings accounts (MSAs).
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| 01/11/2012 | IRS Provides Certain Form 8955-SSA Relief | | | January 11, 2012 – The IRS has issued an article explaining how to complete Line 8 of Form 8955-SSA, Annual Registration Statement Identifying Separated Participants With Deferred Vested Benefits. Line 8 of this new IRS form asks whether a plan’s administrator has furnished required information to each separated participant with a deferred vested benefit.
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| 01/09/2012 | Fee Disclosure Regulations Await White House Clearance | | | January 9, 2012 – It is being reported in retirement industry media that Department of Labor (DOL) final regulations governing service provider fee disclosure to employers and plan sponsors are awaiting White House approval. Such regulations typically are issued once they have been cleared by reviewers in the issuing agency, and the federal Office of Management and Budget (OMB). However, the executive branch sometimes exercises its discretion to put a “hold” on regulations, for various reasons
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| 01/04/2012 | IRS Updates Various Ruling Procedures, Fees | | | January 4, 2012 – The IRS has issued Internal Revenue Bulletin (IRB) 2012-1 containing several revenue procedures that provide updated information on application processes and fees for certain rulings, information letters, and certain determinations for retirement plans and other tax-favored arrangements.
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| 01/04/2012 | IRS Officially Notes April 17 Income Tax Deadline | | | January 4, 2012 – The IRS has issued news release IR-2012-1 stating that income tax returns–and therefore other acts associated with the return–are extended to Tuesday, April 17, 2012. April 15 falls on Sunday and April 16 is Emancipation Day in Washington, D.C.
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| 01/04/2012 | IRS Elaborates on Roth Rollovers, Conversions | | | January 4, 2012 – The IRS has at its website a compilation of references pertaining to in-plan Roth rollovers and Roth IRA conversions. The information, in part, dovetails with recently released 2011 Form 8606, Nondeductible IRAs. (This form has been substantially revised from the 2010 version, to better accommodate in-plan Roth rollovers, while also serving Roth IRA, Traditional IRA and SIMPLE IRA purposes.
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