DOL Proposes Updated Definition of Investment Advice Fiduciary
The Department of Labor (DOL) has issued a proposal to update the definition of an investment advice fiduciary under the Employee Retirement Income Security Act (ERISA). The updated definition of an investment advice fiduciary would apply when a financial service provider gives investment advice for a fee to retirement plan participants, IRA owners and others.
November 01, 2023
DOL Extends Relief on Compliance with Fiduciary Exemption
Following requests by the IAA and others, the DOL has extended its grace period for compliance with its new Fiduciary Exemption through January 31, 2022 – and says it won’t enforce the specific requirements pertaining to rollovers until June 30, 2022.
October 28, 2021
IAA to DOL: Give Advisers More Time to Comply with Fiduciary Exemption
The IAA has asked the DOL to delay compliance with the DOL Fiduciary Exemption until it has completed additional related regulatory action, or for at least six months from the current December 20, 2021 deadline, to give advisers additional time to update their processes
October 06, 2021
DOL Issues FAQs for Firms, Guidance for Investors on Fiduciary Exemption
Less than two months after allowing the Department of Labor’s new Fiduciary Exemption to take effect, the DOL’s Employee Benefits Security Administration (EBSA) has issued a set of frequently asked...
April 16, 2021
The DOL has adopted a prohibited transaction class exemption to allow investment advice fiduciaries, including investment advisers, to receive compensation for providing fiduciary investment advice, including advice about rollovers, and...
December 21, 2020
IRS Updates Life Expectancy Tables Used to Determine Required Minimum Distributions
The IRS has adopted updates to life expectancy tables used to calculate required minimum distributions from retirement plans, IRAs, and annuities. The updates will apply to distribution calendar years that...
November 17, 2020
More Individuals Qualified for CARES Act Coronavirus-Related Retirement Plan Distributions, Loans Under New IRS Guidance Also Increases Loan Amounts, Includes Temporary Suspension of Repayments June 22, 2020 The IRS...
June 22, 2020
IRS Issues FAQs on CARES Act Retirement Plan, IRA Provisions
IRS Issues FAQs on CARES Act Retirement Plan, IRA Provisions Upcoming Guidance to be Consistent with 2005 Katrina Guidance May 6, 2020 The IRS has issued new FAQs on...
May 06, 2020
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