Blue Ridge ESOP Associates Industry News

Scott J. Freund, QPA, QKC

Recent Posts

SECURE Act 2.0 Updates & Form 5500 Changes

Posted by Scott J. Freund, QPA, QKC

May 13, 2024 8:00:00 PM

SECURE Act 2.0 – Updates for 2024

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Topics: Form 5500, DOL, RMD - Required Minimum Distribution

IRS/DOL Corner

Posted by Scott J. Freund, QPA, QKC

Jul 20, 2022 9:30:00 AM

REMINDER - SECURE/CARES Act Amendments

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Topics: IRS, DOL, Plan Document, CARES Act

IRS/DOL Corner

Posted by Scott J. Freund, QPA, QKC

Mar 31, 2022 4:48:15 PM

On February 24, 2022, the Internal Revenue Service (IRS) published proposed regulations regarding the calculation and payment of required minimum distributions (RMD’s) under qualified retirement plans. The Proposed Regulations update existing regulations to account for the increase in a participant’s required beginning date to age 72. Specifically for our ESOP and 401(k) clients, these proposed regulations also provide helpful clarifications on the calculation of death benefits.

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December 2021 - IRS/DOL Corner

Posted by Scott J. Freund, QPA, QKC

Dec 22, 2021 10:03:18 AM

On November 4, 2021, the IRS announced cost of living adjustments affecting qualified retirement plans for 2022. Almost all of the limits increased from 2021 to 2022, some by greater amounts than we have seen in some time.

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IRS/DOL Corner – August 2021

Posted by Scott J. Freund, QPA, QKC

Aug 31, 2021 10:09:21 AM

On May 5, 2021, the House Ways and Means Committee voted unanimously to send the bipartisan Securing a Strong Retirement Act to the full House of Representatives for consideration.

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IRS/DOL Corner - March 2021

Posted by Scott J. Freund, QPA, QKC

Mar 30, 2021 5:04:51 PM

Some temporary relief to the partial plan termination rules was recently provided for companies that experienced significant turnover in 2020. The Consolidated Appropriations Act, which was signed into law on December 27, 2020, includes a rule that provides some short-term relief regarding partial plan terminations.

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New Plan Limits for 2021

Posted by Scott J. Freund, QPA, QKC

Nov 24, 2020 2:14:00 PM

New Plan Limits for 2020

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Topics: IRS, Plan Limits

IRS/DOL Corner - July 2020

Posted by Scott J. Freund, QPA, QKC

Jul 30, 2020 8:31:07 AM

Over the past three months there have been a number of updates provided to the retirement community by both the Department of Labor and the Internal Revenue Service.

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Topics: IRS, DOL

IRS/DOL Corner - March 2020

Posted by Scott J. Freund, QPA, QKC

Mar 31, 2020 9:23:31 AM

The Setting Every Community Up for Retirement Act (known as the SECURE Act) was signed into law by President Trump on December 20, 2019.   This bill created changes to a number of rules related to Qualified Retirement Plans, including ESOP’s and 401(k).  Some of the highlights of the bill include the following:

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Dividend Rules for ESOP Companies

Posted by Scott J. Freund, QPA, QKC

Nov 15, 2016 1:41:38 PM

Many C Corporation companies who sponsor an Employee Stock Ownership Plan elect to pay dividends to their ESOP.  This article will provide a summary of the rules that the company needs to follow if they wish claim a deduction on the dividends paid to the ESOP.

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Topics: S-Corp, Dividend Rules, IRC, C-Corporation

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