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ERISA

FAQs on Unclaimed Property Aspects of Retirement Assets

February 2, 2021 By Kendall Houghton and Matt Hedstrom

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

Filed Under: Unclaimed Property Advisory Tagged With: CARES Act, Department of Labor, DOL, ERISA, IRAs, SECURE Act

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

August 3, 2020 By Matt Hedstrom and Kendall Houghton

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

Filed Under: Unclaimed Property Tagged With: ERISA, Escheat, IRA, IRS, required minimum distribution, RMD, Roth IRA, RUUPA, SECURE, Setting Every Community up for Returement Enhancement Act, tax deferred retirements, Tax Notes State, The Further Consolidated Appropriations Act, UP Ahead

Qualified Retirement Plan Considerations and 2019 Year-End Action Items

November 12, 2019 By Alston & Bird Tax Team

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

Filed Under: Employee Benefits Tagged With: 409A, actuarial issues, DOL, employee benefits, ERISA, ERISA Litigation, executive compensation, health and welfare, IRS, PBGC, qualified plans

Unclaimed Property Challenges in the Health Care Industry

December 26, 2018 By Kendall Houghton and Matt Hedstrom

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

Filed Under: Unclaimed Property Advisory Tagged With: audit, california consumer privacy act, california privacy law, CCPA, data privacy, ERISA, Escheat, federal preemption, GDPR, health care providers, health insurance, health insurance portability and accountability act, heath care, HIPAA, insurance, risk management, Unclaimed property, VDA

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401(k) ACA Affordable Care Act audit BEAT CARES Act CFC Corporate Tax Planning covid-19 Delaware Department of Treasury ERISA Escheat FATCA FDII Gift cards GILTI international tax IRA IRS Kelmar New York nexus OECD qualified plans Quill RUUPA SCOTUS Section 351 Section 355 Section 367 Section 385 section 482 section 965 State legislation Subpart F Supreme Court Tax Court Tax Cuts and Jobs Act tax reform TCJA Treasury Unclaimed property UP Wayfair

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  • FAQs on Unclaimed Property Aspects of Retirement Assets
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