News Archive

Rev. Jun. 8, 2026. "The information on Form 5498 is submitted to the IRS by the trustee or issuer of your individual retirement arrangement (IRA) to report contributions, including any catch-up contributions, rollovers, repayments, required minimum distributions (RMDs), and the fair market value (FMV) of the account."  MORE >>

56 pages, rev. May 2026 "What's New for Tax Year 2025 ... [1] Due to the planned retirement of the Filing Information Returns Electronically (FIRE) System, the IRS will no longer accept new Information Returns (IR) Applications for Transmitter Control Codes (TCCs) beginning July 21, 2026. Existing applicants can continue to update their applications through December 2026, after which they will become read-only and retained for historical reference. [2] Current FIRE users must complete an Information Returns Intake System (IRIS) Application for TCC and transition to IRIS for electronic filing beginning with the 2027 filing season. IRIS will be the only information returns electronic filing system, including current year, prior year, or corrections, after January 1, 2027."  MORE >>

"his document provides a notice of public hearing on the ... proposed regulations [for] making an election to open a Trump account ... The hearing is scheduled to be held on July 16, 2026, at 10:00 a.m. Eastern Time (ET). The IRS must receive speakers' outlines of the topics to be discussed by [10 days after publication in the Federal Register, which is currently scheduled for June 5, 2026]."  MORE >>

"As required by statute, the [DOL] annually publishes a final rule updating the civil monetary penalties it assesses. The Bureau of Labor Statistics (BLS) did not publish its October 2025 Consumer Price Index for All Urban Consumers (CPI-U) data due to a lapse in funding. Because the relevant law requires that annual penalty adjustments be based specifically on October CPI-U data -- with no alternative calculation allowed -- the 2026 adjustment is cancelled entirely."  MORE >>

May 21, 2026. "Attach to Form 1040, 1040-SR, 1040-NR, or 1041.... If you only owe the additional 10% tax on the full amount of the early distributions, you may be able to report this tax directly on Schedule 2 (Form 1040), line 5, without filing Form 5329."  MORE >>

"Section 401(a)(39)(E) of the Internal Revenue Code permits distributions from a defined contribution plan for the payment of certified long-term care insurance premiums if certain disclosure requirements are met, including that the issuer of the certified long-term care insurance must file an 'Issuer Disclosure' with the IRS. IRC Section 401(a)(39)(E)(iii) provides that a long-term care premium statement will be accepted by a defined contribution plan only if you (the issuer) file an Issuer Disclosure with the IRS describing the specific coverage life insurance product that is the subject of the long-term care premium statement. Use the procedures on this webpage to make an Issuer Disclosure only if you plan on filing a long-term care premium statement with a defined contribution plan with respect to a policyholder's request for qualified long-term care distributions."  MORE >>

22 pages. "This notice provides guidance on qualified long-term care distributions, as permitted under section 401(a)(39) of the Internal Revenue Code. In particular, the notice provides guidance to providers of certified long-term care insurance  relating to the disclosure and reporting requirements under sections 401(a)(39) and 6050Z. In addition, the notice provides guidance under sections 72(t)(2)(N) and 401(a)(39) to plan administrators making and individuals receiving qualified long-term care distributions, including setting forth safe harbors for plan administrators in making qualified long-term care distributions. This notice also extends the deadline for a plan sponsor of a defined contribution plan that is not a governmental plan (within the meaning of section 414(d)), a section 403(b) plan maintained by a public school, or an applicable collectively bargained plan, to amend its eligible retirement plan to permit qualified long-term care distributions."  MORE >>

"This notice provides guidance on the corporate bond monthly yield curve, the corresponding spot segment rates ... and the 24-month average segment rates ... [as well as] the interest rate on 30-year Treasury securities ... as in effect for plan years beginning before 2008 and the 30-year Treasury weighted average rate[.]"  MORE >>

11 pages. "This notice sets forth the 2026 Cumulative List of Changes in Plan Qualification Requirements for Defined Benefit Qualified Pre-approved Plans. The 2026 Cumulative List will assist providers applying to the [IRS] for opinion letters for the fourth remedial amendment cycle for defined benefit qualified pre-approved plans (Cycle 4) under the IRS's pre-approved plan program. Cycle 4 began on April 1, 2025. The Cycle 4 submission period begins on August 1, 2026, and ends on July 31, 2027. The 2026 Cumulative List identifies recent changes in the qualification requirements of the Internal Revenue Code that were not taken into account during the first three remedial amendment cycles for defined benefit qualified pre-approved plans and that will be taken into account by the IRS with respect to the form of a plan submitted to the IRS for Cycle 4."  MORE >>

"Criteria for Mergers Involving Plans that Received SFA

• What are the eligibility requirements for a merger involving a plan that received SFA?
• What conditions apply after the merger?
• May plans request a waiver of any conditions beyond those permitted in § 4262.16(f)(4)?

"Request for Approval

• Where should a plan representative file a request for approval?
• When should a request for waiver of one or more conditions be submitted?
• May plans confer with PBGC before submitting a request for approval?
• When must a plan request approval of a merger involving a plan that received SFA?
• If plans want to adopt an alternative allocation method for the merged plan, when should that request be submitted?
• What withdrawal liability methods may a merged plan use to comply with § 4261.16(1)(3)(iv) and (v)?
• How does the example of a compliant alternative allocation method work?
• How does the example alternative allocation method satisfy the requirements of § 4262.16(f)(3)(iv) and (v)?
• Will adoption of the example alternative allocation method satisfy the risk of loss standard?
• May plans propose a different alternative allocation method?"

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"[U]ntil after the Department issues a final regulation or other applicable administrative guidance, the Department, as an enforcement policy, will not take enforcement action against plan administrators that comply in good faith with a reasonable interpretation of the provisions set forth in the NPRM. Likewise, the Department will not take enforcement action against plan administrators that comply in good faith with a reasonable interpretation of section 105(a)(2)(E) of ERISA pending the adoption of a final rule (for example, plan administrators may furnish the pension benefit statement described in section 105(a)(2)(E) of ERISA in accordance with the current regulation under 29 CFR Section 2520.104b-1(c))."  MORE >>

PBGC has launched a new webpage designed specifically to support the practitioner community. It is intended to streamline the user’s experience and make it easier to find information. PBGC’s statute and regulations require the submission of various notices, forms, applications and payments. This new page brings those requirements together in one place by providing an overview, clear guidance, and direct links to relevant information. Practitioners can now easily access details on what must be filed, when it must be filed, and how to submit required materials.  MORE >>

"The [PBGC] is notifying the public that its civil monetary penalty amounts will not increase for the 2026 calendar year.... In accordance with guidance from the Office of Management and Budget (OMB), PBGC will continue to use the 2025 civil monetary penalty levels because there will be no cost-of-living adjustment for 2026."  MORE >>

"As part of the Corporation's compliance assistance efforts, this program establishes a process for private parties to request that the agency file an amicus brief in cases with potential implications for PBGC or the broader private pension system.... Instructions for submitting an amicus curiae request can be found on PBGC's website. Upon receiving a request, PBGC will move expeditiously to evaluate it. Still, PBGC recommends early submission to facilitate thorough review. PBGC may ultimately decline to file an amicus brief. It may also elect to file one on its own initiative."  MORE >>

"File Form 5498-TA, Trump Account Contribution Information, with the IRS and furnish it to the account beneficiary for each Trump account you maintained during the calendar year shown on the form for any calendar year during the growth period of the account beneficiary. For any calendar year after the growth period of the account beneficiary, file Form 5498, IRA Contribution Information, with the IRS and furnish it to the account beneficiary."  MORE >>

"[B]usinesses in parts of Southeast Georgia that were affected by wildfires and straight-line winds that began on April 18, 2026 ... now have until Aug. 20, 2026, to file various federal individual and business tax returns and make tax payments.... [I]ndividuals and households that reside or have a business in Clinch, Echols, and Brantley counties qualify for tax relief."  MORE >>

"Congress adopted the SECURE Act to expand the ability of small employers, including self-employed individuals, to participate in pooled employer plans and benefit from the economies of scale such plans provide. Accordingly ... it is reasonable to similarly treat pooled employer plans as single employer plans for purposes of rule 180(a)(2).... [T]he staff would not object if a CIT issues interests to a pooled employer plan that covers self-employed persons without registering the offer and sale of the CIT's interests under section 5 of the Securities Act in reliance on rule 180; provided that the plan: [1] is subject to ERISA; and [2] the issuance meets all of the requirements in rule 180(a)(1) and (a)(3)."  MORE >>

"[I]ndividuals and businesses affected by Super Typhoon Sinlaku in the Commonwealth of the Northern Mariana Islands that began on April 11, 2026 ... now have until Nov. 2, 2026, to file various federal individual and business tax returns and make tax payments.... [I]ndividuals and households affected by Super Typhoon Sinlaku that reside or have a business in the Northern Islands, Rota, Saipan and Tinian qualify for tax relief."  MORE >>

"Through a federally administered retirement-savings informational platform that highlights qualifying high-quality, low-cost, private-sector IRAs, the United States will promote retirement-savings participation, provide access to retirement-savings options similar to those enjoyed by Federal employees, and encourage workers to reap the rewards of the vibrant American private-sector along with the power of compound earnings....

"The Secretary of the Treasury shall, by January 1, 2027, establish a website (TrumpIRA.gov) that provides individuals, with a particular focus on independent contractors, self-employed individuals, and other workers who do not have access to an employer-sponsored retirement plan, with information about high-quality, low-cost IRAs. Individuals who contribute to qualifying IRAs, and who are otherwise eligible, are entitled to a Federal Saver's Match contribution of up to $1,000[.]"  MORE >>

"The origination of the new Form 5498-TA is to comply with the requirements set forth in P.L. 119-21, Sec. 70204 and IRC Section 530A(i) which established Trump Accounts and contribution pilot programs. Form 5498-TA reports contributions, rollovers, basis or investment in the contract, and the fair market value (FMV) of the account for the calendar year shown on the form and is furnished by the trustee of the Trump account."  MORE >>

"This notice specifies updated static mortality tables to be used for defined benefit pension plans ... These updated static mortality tables ... apply for purposes of calculating the funding target and other items for valuation dates occurring during the 2027 calendar year. This notice also includes a modified unisex version of the mortality tables for use in determining minimum present value under Section 417(e)(3) ... for distributions with annuity starting dates that occur during stability periods beginning in the 2027 calendar year."  MORE >>

"[T]he Department is also proposing to amend provisions in its regulations implementing the Family and Medical Leave Act (FMLA) and Migrant and Seasonal Agricultural Worker Protection Act (MSPA) to provide that joint employer status under those laws be determined using the Department's FLSA analysis, as the FMLA and MSPA both incorporate the FLSA's employment definitions."  MORE >>

"This Technical Release addresses two issues. First, to the extent proxy advisory firms either: [1] exercise authority or control over shareholder rights attributable to shares that are ERISA plan assets, including the voting of proxies; or [2] provide advice for a fee to ERISA plans about how such plans should exercise proxy voting rights attributable to shares of stock they own, this Technical Release clarifies that such proxy advisory firms must meet ERISA's functional fiduciary requirements.

"Second, and relatedly, where a state law mandates disclosure to investors by proxy advisory firms only when they make recommendations other than for the purpose of maximizing risk-adjusted return for the advisee, such laws are generally not preempted by ERISA. ERISA fiduciary provisions do not alter this result. ERISA's fiduciary duties require that actions be taken with respect to a plan investor only for the purpose of maximizing risk-adjusted financial return. For that reason, no plan governed by ERISA should ever receive a disclosure under such a state disclosure law, and, accordingly, no relationship between that law and any ERISA plan would be created. Consequently, such a state law neither has an impermissible connection with, nor makes a prohibited reference to, ERISA plans, and it generally would not be preempted by ERISA."  MORE >>

"[I]ndividuals and businesses in Mississippi affected by the severe winter storm that began on Jan. 23, 2026 ... now have until June 8, 2026, to file various federal individual and business tax returns and make tax payments.... [I]ndividuals and households that reside or have a business in [all 82 counties of] Mississippi qualify for tax relief."  MORE >>

"This memorandum sets forth EBSA's enforcement priorities and guiding principles. These priorities and principles are designed to ensure that EBSA's enforcement is fair, even-handed, responsive, and focused. The four priorities address: [1] Focusing enforcement on the most egregious conduct and significant harm; [2] Ensuring, whenever possible and consistent with our mission, that EBSA does not regulate by enforcement and instead promotes fairness, prior notice, and clarity to the regulated community; [3] Requiring proper review by senior agency officials of all critical enforcement initiatives; and [4] Committing to timely and responsive enforcement. These principles will ensure that the Department's enforcement authority is used in a manner that promotes transparency, consistency, and the rule of law."  MORE >>