Articles — Ascensus

How to Navigate a Merger or Acquisition: Part II

Once a merger or acquisition has taken place, your organization may need to carry out additional tasks to complete the transition of your IRA program. Implementing a few standard procedures will help ensure that nothing is missed.

IRAAscensusFebruary 21, 2019Business Insights, Compliance & Operations, IRA, Documents & Amendments, Reporting

Familiar Retirement Reforms Still in Play

The Retirement Enhancement and Savings Act of 2019 (RESA) is the latest version of a retirement reform bill that, if passed, would make many significant changes to the retirement savings landscape.

Employer Plan, IRAAscensusFebruary 21, 2019IRA, Retirement Plan, Guidance & Legislation, Washington Pulse

2019 Road Map—What Retirement Savings-Related Changes May Be Ahead?

Looking at the road map for 2019, take note of what may be ahead for retirement savings-related changes. Here are some key items to watch for.

IRS Expands Circumstances for Recovering HSA Contributions

A recently released IRS information letter provides more answers to the question of whether an employer can recover erroneous HSA contributions made on behalf of its employees.

HSAAscensusFebruary 21, 2019Compliance & Operations, HSA, IRS, Contribution, Guidance & Legislation

For Those Struggling to Save, Funding an HSA Not a Matter of If But When

How can your HSA-eligible clients get the most from an HSA—even if they can’t contribute the most? By paying their HSA when they pay their medical bills. This can be an opportunity for your organization to drive HSA business.

HSAAscensusFebruary 21, 2019Compliance & Operations, Business Insights, HSA, Contribution

HSA and FSA: Two Distinctly Different Savings Plans

Is an HSA basically the same as an FSA? What are the advantages of contributing to either one? Can you contribute to both?

HSA, expertAscensusFebruary 21, 2019Compliance & Operations, HSA, Q&A

Employee Service Crediting: a Key Part of Plan Administration

For qualified retirement plan purposes, is crediting employee service important? Are there certain methods for crediting service and, if so, which one should be used? Can service with an employer ever be excluded?

Employer Plan, expertAscensusFebruary 21, 2019Compliance & Operations, Qualified Retirement Plan, Eligibility, Q&A

How to Navigate a Merger or Acquisition: Part I

Understanding how IRA programs are affected by a merger or acquisition—and what to do about it—can save your organization from compliance failures, hefty IRS penalties, and potential lawsuits.

IRAAscensusJanuary 17, 2019Business Insights, Compliance & Operations, IRA, Documents & Amendments

Why One-Size-Fits-All Marketing Approach Doesn’t Work With HSAs

Not all HSA owners use their HSAs in the same way. Find out why and how that can affect what your organization does to retain and grow your HSA business.

HSAAscensusJanuary 17, 2019Business Insights, HSA

The One-Per-12-Month Rollover Rule in Review

Still not clear on the one-per-12-month rollover rule? Here’s a quick review to better your understanding. Use it to help your IRA clients who may be contemplating a rollover avoid putting their IRA savings in jeopardy.

IRAAscensusJanuary 17, 2019Compliance & Operations, Traditional IRA, Roth IRA, SIMPLE IRA, IRS, Distribution, Rollover

IRS Releases 2019 Forms 1099-R and 5498 Reporting Instructions

The 2019 instructions for IRS Forms 1099-R and 5498 are now available, with a few notable changes in addition to standard updates.

IRAAscensusJanuary 17, 2019Compliance & Operations, IRA, IRS, Form 1099-R, Form 5498, Guidance & Legislation, Reporting

How Transfers and Rollovers Differ

How do transfers and rollovers differ? How are they reported to the IRS? What are the restrictions?

expert, IRAAscensusJanuary 17, 2019Compliance & Operations, Retirement Plan, Roth IRA, SIMPLE IRA, Traditional IRA, Q&A, Rollover, Transfer

Failure to Remove an RMD from a 401(k) Plan Can Be Corrected

When must required minimum distributions (RMDs) from a 401(k) plan start and what is the annual deadline? What happens if RMDs are not timely distributed? Are there any correction options?

Potential Hardship Distribution Changes for 2019, 2020

Changes to the hardship distribution rules brought about by the Bipartisan Budget Act of 2018 and the IRS’ recently released proposed hardship regulations may affect your 401(k) and 403(b) clients.

IRS and DOL Issue Deadline Relief for California Wildfire Victims

Both the IRS and Department of Labor have provided their own guidance for tax-related deadline relief to those affected by the wildfires in certain California counties.

Roth IRA Can Help Pay Higher Education Expenses

Higher education expenses can be overwhelming, even for the most diligent 529 account savers. Some of your clients may want to consider supplementing their education savings with Roth IRA savings to help pay for college.

IRAAscensusDecember 20, 2018Business Insights, Roth IRA, Distribution, Education

Using HSA Savings for Long-Term Care

Looking for another reason to promote the HSA as a key financial planning tool for a more secure retirement? Consider sharing with your clients how they may be able to use their HSA savings to pay for long-term care expenses.

HSAAscensusDecember 20, 2018Business Insights, Industry Trends & Statistics, HSA

Retirement Plan VCP Corrections to Be Submitted Electronically Now

The IRS has modified its Voluntary Correction Program procedures under the Employee Plans Compliance Resolution System in a move to electronic filing and fee payments beginning in April 2019.