Recent IRS Changes Impact Retirement Plan Compliance

Each New Year usually brings new changes to IRS qualified plan programs, filing procedures and related fees. 2016 is yet another year of updates. However,it is a significant year as the IRS’s budget continues to be under very significant pressure and the employee plans world faces significant changes—from elimination of the IRS determination letter program to reductions in personnel headcount—that dramatically impact the relationship between the IRS and employee plans stakeholders. The attached article highlights the latest IRS guidance and its potentially significant impacts.