Winter 2012 Edition – February 13, 2012
- 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
- 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
- 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
- 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.)
- 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
- Install the Retirement Plans News widget to get the latest news items delivered to you
- Watch Employee Plans videos on a range or retirement plan topics
- Use IRS social media tools to get the latest tax information
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).
If you have any comments or suggestions on our newsletter or Web pages, please send them to RetirementPlanComments@irs.gov.
It is permissible to reproduce our newsletter. We ask that you place a note stating that (1) It is a publication of the IRS Employee Plans, and (2) The presence of IRS material does not constitute or imply the endorsement, recommendation, or favoring by the IRS of any opinions, products, or services offered by the sponsor of this web page or document.
The freely available Adobe Acrobat Reader software is required to view, print, and search some links.
Note to Adobe Acrobat 4.0 and 5.0 Users:
This newsletter contains web links. Be sure that the “Open WebLinks” option (for 4.0, under “File, Preferences, Web Capture”; for 5.0, under “Edit, Preferences, Web Capture”) is set to “In Web Browser,” otherwise Adobe will convert the accessed web pages to “pdf” format and “add” them to the newsletter file.