News

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 19, 2024, for a Vermont severe winter storm for the incident period of January 9, 2024–January 13, 2024.

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 19, 2024, for California severe winter storm, for the incident period of January 30 – January 31, 2024.

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 19, 2024, for California severe storms and flooding, for the incident period of January 31, 2024 – February 9, 2024.

Proposed RMD regulations were released in February 2022.

Under the proposed regulations, if an account owner dies on or after their required beginning date, beneficiaries who are subject to the 10-year rule must take annual life expectancy payments during the first nine years.

Department of Labor (DOL) guidance titled “Amendment of Abandoned Plan Program” that has been with the Office of Management and Budget (OMB) since last July, has left OMB. According to the abstract filed with OMB, the principal purpose of the amendments is to permit bankruptcy trustees to use the DOL’s program to terminate and wind up the plans of sponsors in liquidation under Chapter 7 of the U.S. Bankruptcy Code.

The IRS has issued Notice 2024-35 to provide additional transition relief for certain specified RMDs for 2024.

The IRS has issued Revenue Ruling 2024-09, which contains the applicable federal rates (AFR) for May 2024.

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 13, 2024, for Oregon severe winter storms, straight-line-winds, landslides, and mudslides, for the incident period of January 10, 2024–January 22, 2024.

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 13, 2024, for California severe winter storms, tornadoes, flooding, landslides, and mudslides for the incident period of January 31 – February 9, 2024.

The Department of Labor (DOL) is proposing to collect information in order to establish the Retirement Savings Lost and Found online searchable database described in Section 523 of ERISA as amended by Section 303 of SECURE 2.0.