Articles — Ascensus

Will RESA Succeed This Time?

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

Employer Plan, IRAAscensusApril 18, 2019IRA, Retirement Plan, Qualified Retirement Plan, 403(b) Plan, 401(k) Plan, Profit Sharing Plan, Congress, Guidance & Legislation, Washington Pulse

Required Minimum Distributions After IRA Owner or Plan Participant Dies

Many IRA and retirement plan beneficiaries are not aware of the distribution requirements after an account owner has died. Without this knowledge, they could face unexpected penalty taxes. And your organization could face unexpected questions and complaints.

Employer Plan, IRAAscensusApril 18, 2019Compliance & Operations, IRA, Retirement Plan, Qualified Retirement Plan, Beneficiary, Distribution, Required Minimum Distributions

Tax-Related Deadline Relief for Iowa, Nebraska, Alabama Disaster Victims

The IRS and Department of Labor released tax relief guidance for victims of the severe storms and flooding events in Iowa, Nebraska, and Alabama.

Employer Plan, IRAAscensusApril 18, 2019Compliance & Operations, IRA, Retirement Plan, IRS, DOL, Contribution, Disaster, Excess Contribution, Loan, Recharacterization, Rollover, Tax

Where’s the Value in a Conduit IRA?

Do you sometimes get asked about the benefits of having a conduit IRA? Anymore it’s a thing of the past, but there are reasons why some of your clients may find value in using a conduit IRA.

IRA, Employer PlanAscensusApril 18, 2019Business Insights, Compliance & Operations, IRA, Traditional IRA, Retirement Plan, 401(k) Plan, Profit Sharing Plan, Rollover, Tax

After Near Misses, Congress Zeroes in on Major Retirement Reforms

The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 is the latest House version of a retirement reform bill that, if passed, would make many significant changes to the retirement savings landscape.

IRA, Employer PlanAscensusApril 18, 2019IRA, Retirement Plan, Qualified Retirement Plan, 403(b) Plan, 401(k) Plan, Profit Sharing Plan, Congress, Guidance & Legislation, Washington Pulse

Leased Employees in Qualified Retirement Plans

Who are leased employees? Is the recipient employer’s qualified retirement plan required to cover leased employees? If leased employees are covered, how does the recipient employer make contributions?

Employer Plan, expertAscensusApril 18, 2019Compliance & Operations, Retirement Plan, Qualified Retirement Plan, Contribution, Eligibility, Q&A

Simplified Tax Filing Promise Kept… Sort of

The 2018 IRS Form 1040 is noticeably different from previous years as a result of efforts to simplify tax filing. Just how different is it? Find out how reporting retirement savings-related information on Form 1040 has changed.

Employer Plan, ESA, HSA, IRAAscensusMarch 21, 2019Business Insights, Compliance & Operations, IRA, HSA, IRS, Reporting, Tax

Tax-Related Relief Granted for Alabama Disaster Victims

As a result of tornadoes, storms, and straight-line wind events in Alabama, the IRS has extended the deadline for affected victims to complete certain time-sensitive tax-related acts.

Employer Plan, IRAAscensus -March 21, 2019Compliance & Operations, IRA, Retirement Plan, IRS, Contribution, Disaster, Excess Contribution, Recharacterization, Rollover

More Than a Newsletter: A Tour of The Link

The Link can make administering your retirement, education, and health savings plans easier and help you grow your business. Tour The Link to learn how to find what you need—and what you may have been missing.

ESA, Employer Plan, HSA, IRAAscensusMarch 21, 2019Business Insights, IRA, HSA, Coverdell ESA, Retirement Plan

Ineligible Contributions and Corrective Options

What causes an employer-sponsored retirement plan to have an ineligible contribution failure? What options are available for a plan to correct an ineligible contribution failure?

Employer Plan, expertAscensusMarch 21, 2019Compliance & Operations, Retirement Plan, IRS, Contribution, Qualified Retirement Plan, Eligibility, Q&A

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.

IRA, Employer PlanAscensusFebruary 21, 2019Compliance & Operations, IRA, Retirement Plan, Qualified Retirement Plan, 401(k) Plan, IRS, DOL, Congress, Guidance & Legislation, Required Minimum Distributions

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

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?

Employer Plan, expertAscensusJanuary 17, 2019Compliance & Operations, Retirement Plan, 401(k) Plan, IRS, Required Minimum Distributions, Q&A

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.

Employer PlanAscensusDecember 20, 2018Compliance & Operations, Retirement Plan, 401(k) Plan, 403(b) Plan, Distribution, Documents & Amendments, Guidance & Legislation, Regulations

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.

IRA, Employer PlanAscensusDecember 20, 2018Compliance & Operations, IRA, Retirement Plan, IRS, DOL, Disaster, Excess Contribution, Guidance & Legislation, Loan, Recharacterization, Reporting, Rollover

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.

Employer PlanAscensusDecember 20, 2018Compliance & Operations, Retirement Plan, IRS, Guidance & Legislation, Retirement Spotlight

IRS Updates Acts that May Be Postponed Due to Disaster, Armed Forces Service

The IRS has updated its list of tax-related time-sensitive acts that may be postponed due to federally-declared disasters or service in the Armed Forces.

Employer Plan, IRAGuest UserDecember 20, 2018Compliance & Operations, IRA, Retirement Plan, IRS, Contribution, Disaster, Excess Contribution, Form 5498, Guidance & Legislation, Loan, Military, Recharacterization, Rollover