New guidance from IRS on correction of errors in qualified retirement plans
The IRS released Notice 2023-43 to provide interim guidance on plan correction changes under SECURE 2.0 until Rev. Proc. 2021-30 (EPCRS) is updated.
Resources
Search Results
6 questions you need to ask about internal audit outsourcing
Faced with labor shortages and an unsteady economy, more organizations that used to perform internal audit functions in-house are turning to outsourcing.
FinCen releases FAQs to clarify Beneficial Ownership Information (BOI) reporting
FinCen’s new FAQs aim to clarify beneficial ownership information reporting requirements
AICPA issues TQAs on considering plan provisions
AICPA issues Technical Questions and Answers to assist auditors in designing and performing audit procedures related to employee benefit plan provisions.
Biden team makes cybersecurity a priority for government
The Biden administration has adopted a proactive approach to cybersecurity, but companies must monitor increased regulation.
Remote work tax: Employer compensation considerations
Employers must set compensation policies for remote workers taking into account federal and state tax laws and state legal requirements.
Key challenges for complying with FinCEN’s new beneficial owner reporting rules
Reporting changes for companies with beneficial owners takes effect on Jan. 1, 2024. Leverage these 10 steps to ensure you’re ready to comply and manage the risk that comes with these new rules
SECURE 2.0’s legislative impact on plan corrections
SECURE 2.0 expanded the Employee Plans Compliance Resolution System (EPCRS) to enhance the operational feasibility of qualified plans.
Banking regulatory tide set to turn in 2023
The Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation and Federal Reserve have zeroed in on numerous regulatory changes for 2023.
Interest rates pose challenges for builders, but opportunities are on the horizon
Residential construction sees a favorable long-term outlook despite ongoing challenges affecting the housing market.
Taking action: What financial institutions can do in the wake of bank failures
Financial institutions need to understand what led to the recent failures of Silicon Valley Bank, Signature Bank of New York and Silvergate Bank so they can enhance their organizations' risk management activities and meet increased regulatory expectations while also maintaining customer confidence.
What does SECURE 2.0 mean for small employers?
SECURE 2.0 changes retirement plan rules for small employers with 100 or fewer employees.
Bank Term Funding Program: Government response to the banking crisis
The Bank Term Funding Program gives small and midsize banks the chance to shore up their liquidity.
FASB votes to simplify accounting for common control leases
For common control leases, the FASB is drafting amendments to simplify determining whether a lease exists, the classification of the lease, and accounting for leasehold improvements.
Retirement plan changes for long-term, part-time employees
SECURE 2.0 changes the rules for how long-term, part-time employees are treated for purposes of 401(k) and 403(b) retirement plans.
Required minimum distributions after SECURE 2.0
SECURE 2.0 changes the rules governing how and when certain retirement savers can withdraw money from their retirement accounts and IRAs.