News Archive

"This final rule ... prescribe[s] the spreads component of the interest assumption under the asset allocation regulation for plans with valuation dates of July 31, 2026-October 30, 2026. These interest assumptions are used for valuing benefits under terminating single-employer plans and for other purposes."  MORE >>

"This revenue procedure provides a transfer tax safe harbor for certain individual donors who make one or more contributions to Trump accounts established under section 530A of the Internal Revenue Code.... [F]or taxpayers within the scope of section 4 of this revenue procedure, contributions to Trump accounts will be treated as completed gifts that are not gifts of future interests in property and to which the annual per-donee gift tax exclusion applies. As a result, taxpayers within the scope of section 4 of this revenue procedure will not be required to file gift tax returns reporting such contributions."  MORE >>

"GAI holds promise to improve efficiency and professional services in tax practice. However, ethical obligations of competence, diligence, and confidentiality remain unchanged. By implementing robust use-management strategies and maintaining human supervision, tax professionals can harness AI's benefits while safeguarding reliability and public trust. As tax practitioners integrate GAI into their workflows, it is crucial to recognize that technology serves as a powerful tool, not a substitute for professional judgment. AI can streamline routine tasks, enhance research, and provide valuable insights, but final decisions must always rest with qualified professionals who understand the complexities of tax law and ethical standards. Practitioners must remain vigilant in reviewing what is produced by AI, validating its factual assertions and citations, and handling sensitive client data safely and securely in accordance with both federal and state regulations."  MORE >>

28 pages. "What's New: [1] Address fields ... [2] New boxes 7a-7d of Form 1099-R ... [3] Renumbered box 8 of Form 1099-R ... [4] Reporting the actuarial value of the contract in box 8a is optional for 2026 Form 1099-R ... [5] Qualified long-term care distribution reported on Form 1099-R ... [6] New code HP for box 14b of Form 5498." [Also available: 2026 IRS Form 5498 and 2026 IRS Form 1099-R]  MORE >>

Rev. Jun. 12, 2026. "The information on Form 5498 is submitted to the IRS by the trustee or issuer of your individual retirement arrangement (IRA) to report contributions, including any catch-up contributions, rollovers, repayments, required minimum distributions (RMDs), and the fair market value (FMV) of the account."  MORE >>

"[OPM] is providing notice of adjusted present value factors applicable to certain retirees under the Federal Employees' Retirement System (FERS): [1] Retirees who elect to provide survivor annuity benefits to a spouse based on post-retirement marriage; [2] retiring employees who elect the alternative form of annuity; or [3] retirees who elect to credit certain service with nonappropriated fund instrumentalities. This notice is necessary to conform the present value factors to changes in the economic and demographic assumptions adopted by the Board of Actuaries of the Civil Service Retirement System."  MORE >>

"[OPM] is providing notice of adjusted present value factors applicable to certain retirees under the Civil Service Retirement System (CSRS): [1] Retirees who elect to provide survivor annuity benefits to a spouse based on a post-retirement marriage; [2] retiring employees who elect the alternative form of annuity, owe certain redeposits based on refunds of contributions for service ending before March 1, 1991, or elect to credit certain service with nonappropriated fund instrumentalities; or [3] for retirees with certain types of retirement coverage errors who can elect to receive credit for service by taking an actuarial reduction ... This notice is necessary to conform the present value factors to changes in the economic and demographic assumptions adopted by the Board of Actuaries of the Civil Service Retirement System."  MORE >>

"[OPM] is revising the table of reduction factors for early commencing dates of survivor annuities for spouses of separated employees who die before the date on which they would be eligible for unreduced deferred annuities. The annuity factor for spouses of deceased employees who die in service when those spouses elect to receive the basic employee death benefit in 36 installments under the Federal Employees' Retirement System (FERS) Act of 1986 remains unchanged."  MORE >>

"The Office of Personnel Management (OPM) is providing notice of revised normal cost percentages for employees covered by the Federal Employees' Retirement System (FERS) Act of 1986."  MORE >>

"Code section 530A Trump accounts and section 128 Trump account contribution programs generally will not constitute 'employee pension benefit plans' for purposes of the provisions of Title I of ERISA. Employer contributions to the Trump accounts will not generally result in Title I coverage for a Trump account or the contribution arrangement where, as discussed [in this Release], they occur only during the growth period. For periods beyond an account beneficiary's growth period, employer involvement with a Trump account and a contribution arrangement should be limited in accordance with the IRA payroll safe harbor conditions in in 29 CFR 2510.3-2(d)."  MORE >>

"An annuity buyout for active participants that will remain employed is not the type of event that the statute or regulation were designed to capture. Though the annuitized individuals will cease to be participants in the Plan, the change in status does not result because of a workforce reduction event of the type contemplated by PBGC's regulations, such as 'a reorganization or restructuring, the discontinuance of an operation or business, a natural disaster, a mass layoff, or an early retirement incentive program.' "  MORE >>

"This notice provides guidance on the corporate bond monthly yield curve, the corresponding spot segment rates ... and the 24-month average segment rates ... [as well as] the interest rate on 30-year Treasury securities ... as in effect for plan years beginning before 2008 and the 30-year Treasury weighted average rate[.]"  MORE >>

18 pages. "The [PBGC] is proposing technical corrections, clarifications, and improvements to the restrictions and conditions in its regulation on special financial assistance. These changes would clarify (a) the permissibility of investing special financial assistance in certain securities and (b) the condition requiring PBGC approval for settling withdrawal liability claims. The amendments also would repeal a provision that enabled plans that received special financial assistance to request the reallocation of employer contributions to pay for health benefit costs." [Comment period closes Aug. 17, 2026.]  MORE >>

Rev. Jun. 8, 2026. "The information on Form 5498 is submitted to the IRS by the trustee or issuer of your individual retirement arrangement (IRA) to report contributions, including any catch-up contributions, rollovers, repayments, required minimum distributions (RMDs), and the fair market value (FMV) of the account."  MORE >>

56 pages, rev. May 2026 "What's New for Tax Year 2025 ... [1] Due to the planned retirement of the Filing Information Returns Electronically (FIRE) System, the IRS will no longer accept new Information Returns (IR) Applications for Transmitter Control Codes (TCCs) beginning July 21, 2026. Existing applicants can continue to update their applications through December 2026, after which they will become read-only and retained for historical reference. [2] Current FIRE users must complete an Information Returns Intake System (IRIS) Application for TCC and transition to IRIS for electronic filing beginning with the 2027 filing season. IRIS will be the only information returns electronic filing system, including current year, prior year, or corrections, after January 1, 2027."  MORE >>

"his document provides a notice of public hearing on the ... proposed regulations [for] making an election to open a Trump account ... The hearing is scheduled to be held on July 16, 2026, at 10:00 a.m. Eastern Time (ET). The IRS must receive speakers' outlines of the topics to be discussed by [10 days after publication in the Federal Register, which is currently scheduled for June 5, 2026]."  MORE >>

"As required by statute, the [DOL] annually publishes a final rule updating the civil monetary penalties it assesses. The Bureau of Labor Statistics (BLS) did not publish its October 2025 Consumer Price Index for All Urban Consumers (CPI-U) data due to a lapse in funding. Because the relevant law requires that annual penalty adjustments be based specifically on October CPI-U data -- with no alternative calculation allowed -- the 2026 adjustment is cancelled entirely."  MORE >>

May 21, 2026. "Attach to Form 1040, 1040-SR, 1040-NR, or 1041.... If you only owe the additional 10% tax on the full amount of the early distributions, you may be able to report this tax directly on Schedule 2 (Form 1040), line 5, without filing Form 5329."  MORE >>

"Section 401(a)(39)(E) of the Internal Revenue Code permits distributions from a defined contribution plan for the payment of certified long-term care insurance premiums if certain disclosure requirements are met, including that the issuer of the certified long-term care insurance must file an 'Issuer Disclosure' with the IRS. IRC Section 401(a)(39)(E)(iii) provides that a long-term care premium statement will be accepted by a defined contribution plan only if you (the issuer) file an Issuer Disclosure with the IRS describing the specific coverage life insurance product that is the subject of the long-term care premium statement. Use the procedures on this webpage to make an Issuer Disclosure only if you plan on filing a long-term care premium statement with a defined contribution plan with respect to a policyholder's request for qualified long-term care distributions."  MORE >>

22 pages. "This notice provides guidance on qualified long-term care distributions, as permitted under section 401(a)(39) of the Internal Revenue Code. In particular, the notice provides guidance to providers of certified long-term care insurance  relating to the disclosure and reporting requirements under sections 401(a)(39) and 6050Z. In addition, the notice provides guidance under sections 72(t)(2)(N) and 401(a)(39) to plan administrators making and individuals receiving qualified long-term care distributions, including setting forth safe harbors for plan administrators in making qualified long-term care distributions. This notice also extends the deadline for a plan sponsor of a defined contribution plan that is not a governmental plan (within the meaning of section 414(d)), a section 403(b) plan maintained by a public school, or an applicable collectively bargained plan, to amend its eligible retirement plan to permit qualified long-term care distributions."  MORE >>

"This notice provides guidance on the corporate bond monthly yield curve, the corresponding spot segment rates ... and the 24-month average segment rates ... [as well as] the interest rate on 30-year Treasury securities ... as in effect for plan years beginning before 2008 and the 30-year Treasury weighted average rate[.]"  MORE >>

11 pages. "This notice sets forth the 2026 Cumulative List of Changes in Plan Qualification Requirements for Defined Benefit Qualified Pre-approved Plans. The 2026 Cumulative List will assist providers applying to the [IRS] for opinion letters for the fourth remedial amendment cycle for defined benefit qualified pre-approved plans (Cycle 4) under the IRS's pre-approved plan program. Cycle 4 began on April 1, 2025. The Cycle 4 submission period begins on August 1, 2026, and ends on July 31, 2027. The 2026 Cumulative List identifies recent changes in the qualification requirements of the Internal Revenue Code that were not taken into account during the first three remedial amendment cycles for defined benefit qualified pre-approved plans and that will be taken into account by the IRS with respect to the form of a plan submitted to the IRS for Cycle 4."  MORE >>

"Criteria for Mergers Involving Plans that Received SFA

• What are the eligibility requirements for a merger involving a plan that received SFA?
• What conditions apply after the merger?
• May plans request a waiver of any conditions beyond those permitted in § 4262.16(f)(4)?

"Request for Approval

• Where should a plan representative file a request for approval?
• When should a request for waiver of one or more conditions be submitted?
• May plans confer with PBGC before submitting a request for approval?
• When must a plan request approval of a merger involving a plan that received SFA?
• If plans want to adopt an alternative allocation method for the merged plan, when should that request be submitted?
• What withdrawal liability methods may a merged plan use to comply with § 4261.16(1)(3)(iv) and (v)?
• How does the example of a compliant alternative allocation method work?
• How does the example alternative allocation method satisfy the requirements of § 4262.16(f)(3)(iv) and (v)?
• Will adoption of the example alternative allocation method satisfy the risk of loss standard?
• May plans propose a different alternative allocation method?"

MORE >>

"[U]ntil after the Department issues a final regulation or other applicable administrative guidance, the Department, as an enforcement policy, will not take enforcement action against plan administrators that comply in good faith with a reasonable interpretation of the provisions set forth in the NPRM. Likewise, the Department will not take enforcement action against plan administrators that comply in good faith with a reasonable interpretation of section 105(a)(2)(E) of ERISA pending the adoption of a final rule (for example, plan administrators may furnish the pension benefit statement described in section 105(a)(2)(E) of ERISA in accordance with the current regulation under 29 CFR Section 2520.104b-1(c))."  MORE >>

PBGC has launched a new webpage designed specifically to support the practitioner community. It is intended to streamline the user’s experience and make it easier to find information. PBGC’s statute and regulations require the submission of various notices, forms, applications and payments. This new page brings those requirements together in one place by providing an overview, clear guidance, and direct links to relevant information. Practitioners can now easily access details on what must be filed, when it must be filed, and how to submit required materials.  MORE >>