Alston & Bird Tax Blog

ERISA

FAQs on Unclaimed Property Aspects of Retirement Assets

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Our Unclaimed Property Team has created FAQs to stimulate review of the numerous challenges associated with the potential escheatment of traditional IRAs and other tax-advantaged retirement assets. How does ERISA play a part?Why would a custodian voluntarily escheat an ERISA-governed plan asset or distribution?What safeguards can a custodian rely on? Read the full advisory here. [...]Read more

Challenges With Escheatment of Tax-Deferred Retirement Assets, Part 2

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Holders of tax-deferred retirement assets must weigh and balance significant owner-facing risks against a clear set of state-facing compliance requirements and risks. In this installment of “UP Ahead” for Tax Notes State, unclaimed property partners Kendall Houghton and Matt Hedstrom continue their discussion of potential challenges of a holder’s escheat compliance process for traditional and Roth IRAs. To read part one, click here. To read part two, click here. [...]Read more

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

Unclaimed Property Challenges in the Health Care Industry

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States across the country are undertaking unclaimed property audit campaigns. These audits are targeting large national health care providers and insurance companies. Learn from Unclaimed Property partners Kendall Houghton and Matt Hedstrom why these audits raise HIPAA and unclaimed property concerns for the health care sector.

Click here to read the article.

  [...]Read more