Join us for our monthly webinar on Tuesday, May 15, 2018 at 2:00 p.m. ET / 11:00 a.m. PT Register here. This webinar will provide an overview of the Employee Retirement Income Security Act (ERISA) Form 5500 requirements, including whether an employer/plan sponsor must file and what to do if an employer/plan sponsor fails to file. The […]
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January 2018 Compliance Recap
January 2018 January was a busy month in the employee benefits world. On January 24, 2018, the U.S. Senate confirmed Alex Azar as the new Secretary of the U.S. Department of Health and Human Services (HHS). The U.S. Department of Labor (DOL) proposed regulations regarding association health plans. HHS released the 2018 federal poverty guidelines. […]
Read moreCompliance Recap // November 2016
November was a busy month for administrative rulemaking in the employee benefits world. The Department of Labor’s Employee Benefits Security Administration (EBSA), the Internal Revenue Service (IRS), and the Pension Benefit Guaranty Corporation (PBGC) released advance informational copies of 2016 Form 5500 Annual Return/Report. The government released annual benefit plan amounts for 2017. The IRS […]
Read moreCompliance Recap // September 2016
September was not a very active month for administrative rulemaking in the employee benefits world. The Internal Revenue Service (IRS), Department of Labor (DOL), and Pension Benefit Guaranty Corporation (PBGC) extended the public comment period for the proposed Form 5500 annual return/report revision. The IRS issued rules defining terms relating to marital status and setting […]
Read moreCompliance Recap // July 2016
During the month of July numerous new regulations were issued or proposed by federal agencies, and existing forms and processes were updated. In particular, penalties for various ERISA violations were increased, a major overhaul to Form 5500 filings was proposed, and draft 1095-C and 1094-C forms were released. Proposed regulations were also released relating to […]
Read moreInterim Final Rule Updating the Penalties for Certain ERISA Violations
On July 1, 2016, the Department of Labor (DOL) issued an interim final rule, effective August 1, 2016, to adjust the amounts of civil penalties as required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. In order to improve the effectiveness of civil monetary penalties, maintain their deterrent effects, keep pace […]
Read moreCompliance Recap // March 2016
The government was busy during the month of March, issuing the massive Benefit Payment and Parameters rule in addition to numerous other updates. The IRS has added filing errors relating to Form 5500 to its project list, and multiple federal agencies confirmed that the just-announced templates relating to the Summary of Benefits and Coverage will […]
Read moreGuest Blog – Summary Annual Reports are due by September 30th!
The ABV Benefits Advisor (originally published by ABVAdvisors on September 28, 2015) What do you need to know about Form 5500 and the Summary Annual Report (SAR) for welfare benefit plans? The Department of Labor requires plan administrators to report certain enrollment and insurance information for welfare benefit plans each year. To comply with […]
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