Do You Need to Send an Annual Notice to Plan Participants?

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Check out our review of the multiple year-end notices that defined contribution plans must issue to participants.

  • 2020 retirement plan limits
  • Notice content and deadlines
  • Practice pointers

Read the full advisory here.

Qualified Retirement Plan Considerations and 2019 Year-End Action Items

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Our Employee Benefits & Executive Compensation Group reminds plan sponsors to get ready for 2019 IRS year-end amendments and offers year-end action items. Discretionary amendments Changes to hardship withdrawals Adjustment to the determination letter program Read the full advisory here. [...]Read more

Down the Rabbit Hole: Guidance Addressing Downward Attribution After Repeal of Section 958(b)(4)

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The IRS released Proposed Regulations and a Revenue Procedure addressing the Tax Cuts and Jobs Act’s repeal of Section 958(b)(4). Our International Tax Group explores how this guidance affects numerous provisions of the Code. Downward attribution beyond Subpart F, GILTI, and Section 965 Silence on the portfolio interest exemption Safe harbors and eased reporting requirements Read the full advisory here. [...]Read more

A Qui Tam Win for Holders, New Federal Common-Law Ruling, JPMorgan Appeals, and a Possible California Amnesty Program

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Our Unclaimed Property Team highlights several recent rulings – both federal and state from across the country – and a new California law that could have broad implications for holders. Qui tam rulings in Delaware and New York A fight for removal from state to federal court A possible California amnesty program Read the full advisory here. [...]Read more

Final Hardship Distribution Rules Are Here: Does Your 401(k) or 403(b) Plan Comply?

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Our Employee Benefits & Executive Compensation Group examines the numerous changes – mandatory and permissible – plan sponsors can make to their 401(k) or 403(b) plans in light of new regulations for hardship distributions. When do you need to amend your plan? What are the mandatory and permissible changes? What next steps should you take? Read the full advisory here. [...]Read more

NOL Regulations Proposed

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Our Federal Tax Group covers the potential changes to recognizing built-in income in reaction to Treasury proposing new Section 382 regulations with a built-in feature that many will think is a bug. Using the Section 382 deduction limitation Using Section 338 for built-in gains Using the 1374 method for built-in losses Read the full advisory here. [...]Read more

Univar, Chapter Two: Only a Pair of Constitutional Claims Survive Dismissal (For Now)

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Our Unclaimed Property Team breaks down the many individual issues at stake in the continuing epic of Univar’s struggle against Delaware and its use of a third-party auditor, and how the courts are deciding in light of earlier Third Circuit rulings. The procedural due process and equal protection claims survive The other claims were dismissed, but could be revived later The next chapter will be set (again) in chancery court Read the full advisory here. [...]Read more

Proposed Regulations Classifying Cloud Transactions and Digital Content Released

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As the computer transactions of the 21st century continue to evolve, our International Tax Group downloads Treasury and the IRS’s attempt at updating the tax implications to keep up. Refreshing the 1998 regulations Classifying cloud transactions Key concerns and looking ahead Read the full advisory here. [...]Read more

False Claims Act Is Again in Focus, This Time in New York

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Last week, our Unclaimed Property Team uncovered the broader implications of a New York court’s False Claims Act ruling that could create a new risk for holders that report past-due property. Overview of the action brought by the relator The court’s decision Implications for holders Read the full advisory here. [...]Read more