IRS Reveals Retirement Plan Compliance Initiatives
The agency plans to examine worker classifications, RMDs in large DB plans and participant loans, as well as do a compliance check about partial plan termination and partial vesting, among other things.
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The IRS Tax Exempt & Government Entities Division (TE/GE) has a released a new 2021 Program Letter to update its compliance initiatives for its fiscal year.
The agency says it will continue to pursue its compliance program described in the 2020 Program Letter. The letters for both years are available on a webpage the IRS will use to share information about other initiatives at the end of each quarter during the fiscal year, as well as findings from recently completed actions.