"Action items for ALEs ... [1] Ensure your benefits team is familiar with the new rules and understands the specific changes and how they impact your reporting obligations.... [2] For plan sponsors that want to take advantage of the reporting relief, prepare and make available the required notice by January 31, 2025. Ensure the notice is clear, conspicuous, and accessible, providing all necessary contact information for employees to request a copy of their form.... [3] Keep an eye out for an IRS Letter 226-J or related follow-up notices from the IRS and ensure you respond within the required 90 days or request an extension."  MORE >>