The Setting Every Community Up for Retirement Enhancement (“SECURE”) Act which was signed into law in December of 2019 has enacted sweeping changes to the retirement plan industry.  As a result, this is the first in a series of articles that are intended to summarize the most impactful aspects of the SECURE Act as they…

In August of 2019, the IRS issued Revenue Ruling 2019-19 (“Guidance”) which provided guidance regarding the tax treatment of certain types of uncashed checks issued from a tax-qualified retirement plan.  The facts presented within the Guidance involved an individual who received a check representing a taxable distribution from a tax-qualified plan and, while able to…

In April of 2019, the Internal Revenue Service (“IRS”) issued an update to the program allowing employers to voluntarily correct certain retirement plan tax-qualification failures.  This program, known as the “Employee Plan Compliance Resolution System” (“EPCRS”), includes rules and guidelines for situations where a retirement plan sponsor must formally submit the failures to the IRS…