Reporting Developments Affecting Employee Benefits and Executive Compensation
As we discussed in our recent article, the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) temporarily increases the permissible loan amount for loans taken by qualified individuals between March 27, 2020 and...
Read MoreThe IRS addressed Frequently Asked Questions (“FAQs”) this week on the new coronavirus-related distribution (“CRD”) available from eligible retirement plans added by the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”).
Read MoreThis article provides practical guidance regarding how plan sponsors and fiduciaries should address delays in remitting participant salary deferral contributions and plan loan payments to their defined contribution plans resulting from the coronavirus (also known as COVID-19).
Read MoreIn addition to the relief detailed in our recent article on EBSA Disaster Relief Notice 2020-01, the U.S. Department of Labor (DOL) in Notice 2020-01 extended a number deadlines for furnishing required notices or disclosures to plan participants, beneficiaries, and other persons.
Read MoreOn April 28, 2020 the Employee Benefits Security Administration, U.S. Department of Labor, Internal Revenue Service, and Treasury Department published joint guidance extending certain important deadlines that are otherwise applicable to employee benefit plans.
Read MoreIn response to the COVID-19 pandemic, the IRS has automatically extended the deadline for certain retirement and welfare plans to file Form 5500. IRS Notice 2020-23 provides that tax returns, including Forms 5500, that are required to be filed on or after April 1, 2020 and before July 14, 2020 are automatically extended to July 15, 2020.
Read MoreThe Departments of Labor, Health and Human Services and Treasury (collectively, the “Departments”) jointly issued FAQ guidance regarding implementation of the health coverage provisions under the Families First Coronavirus Response Act (“FFCRA”) and the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”).
Read MoreIn a surprising memo from the IRS Office of Chief Counsel, the IRS concluded that there is no statute of limitations period on the Employer Shared Responsibility Payments (“ESRP”) under the Affordable Care Act. The IRS reasoned that the filing of Forms 1094-C and 1095-C (“ACA Returns”) does not start the statute of limitations period because such forms do not satisfy the requirements to be considered a tax return.
Read MorePublic companies and their boards can look to the recently released guidance of ISS and Glass Lewis when considering best therapies to address corporate governance and broader environmental, social and governance issues. The prominent proxy advisors address, among other things, issues affecting annual general meetings, board composition, and executive compensation. This post highlights the executive compensation considerations.
Read More
