Winter 2012 Edition – February 13, 2012
Print Version of Newsletter (PDF)
Plan Issues
- 401(k) Questionnaire Interim Report – comments and highlights
- Use an employee’s entire calendar-year compensation for determining employer contributions to SIMPLE IRA plans
- April 30 deadline for employers to adopt and submit determination letter applications for pre-approved defined benefit plans
Plan Loans
- What’s a reasonable interest rate for participant loans?
- Before you take a loan from your retirement plan, there are a few rules you need to know
Forms
- Tips for Form 5558 requests for extension to file Form 5500-series returns
- Using old forms may cause errors and could result in processing delays
Required Minimum Distributions
- Use the IRA required minimum distribution rules for SEP, SIMPLE IRA and SARSEP plans
- RMD rules for non-IRA plans for retiring participants over age 70½
Individual Income Taxes
- Save on your taxes – there’s still time to contribute to your IRA and claim the Saver’s Credit for 2011
- How to report 2010 Roth rollovers and conversions on your 2011 return
EP Phone Forums
- Registerfor:
- Benefit Restrictions (February 23) – a review of the funding based benefit restrictions in IRC section 436
- 401(k) Questionnaire Interim Report (March 6) – a discussion of the report and next steps
New on the Web
- Tips for Completing Your Voluntary Compliance Program Submission on Appendix F (Video – 2:54 min.)
- Updated:
- 401(k) Fix-It Guide
- Publication 4284, SIMPLE IRA Plan Checklist
- Publication 4222, 401(k) Plans for Small Businesses
Tax Practitioners
- Enrolled Agent Special Enrollment Examination fee increased to $105 per part effective January 5, 2012
- Renew your Preparer Tax Identification Number for 2012
Stay Connected to IRS Employee Plans
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- Use IRS social media tools to get the latest tax information
Recurring Columns
The Retirement News for Employers is a periodic newsletter with retirement plan information for employers and business owners – and their tax advisors from Employee Plans (Tax Exempt and Government Entities (TE/GE) at the IRS).
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