The IRS has announced that, for qualified retirement plans adopted in 2021 retroactive to the 2020 plan year, a 2020 Form 5500 will not be required.
August
12
2021
No 2020 Form 5500 Needed for Retroactive Qualified Plans
Posted by David J. Kupstas, FSA, EA, MSEA
in 401(k), Retirement, defined benefit, secure act, form 5500
with No Comments
May
21
2021
RMDs for Beneficiaries in Qualified Retirement Plans
Posted by David J. Kupstas, FSA, EA, MSEA
in 401(k), Retirement, RMD, 70 1/2, death, required minimum distribution, beneficiary, secure act, nonspouse
with No Comments
When an employee in a qualified retirement plan dies, the employee’s account balance has to be distributed to the beneficiary at a certain rate over a certain timeframe. The money cannot stay in the plan forever. What is that timeframe? When do distr...