Memo #
30923

IRS and Treasury Release 2017-2018 Priority Guidance Plan - Retirement Plan Items
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[30923]

October 24, 2017 TO: ICI Members
Pension Committee
Pension Operations Advisory Committee SUBJECTS: Pension RE: IRS and Treasury Release 2017-2018 Priority Guidance Plan - Retirement Plan Items

 

The IRS and Treasury Department have released their 2017-2018 Priority Guidance Plan listing their priorities for tax regulations and other administrative guidance through June 2018.[1]   We are pleased to report the following projects related to retirement savings requested by the Institute[2] have been or continue to be included on the plan:

  • Regulations under §411(a)(11).[3]
  • Revenue procedure modifying EPCRS to provide guidance with regard to certain corrections.

The 2017-2018 Priority Guidance Plan also includes numerous other projects that relate to retirement savings.  These projects include:

  • Final regulations regarding Qualified Nonelective Contributions (QNECs) and Qualified Matching Contributions (QMACs).
  • Regulations under §§219, 408, 408A, and 4973 regarding IRAs.
  • Guidance updating regulations for service credit and vesting under §411.
  • Guidance related to church plans.
  • Regulations on the definition of governmental plan under §414(d).
  • Guidance regarding the aggregation rules under §414(m).
  • Regulations relating to the reporting requirements under §6057.
  • Additional guidance on issues relating to lifetime income from retirement plans and IRAs.
  • Guidance on missing participants.

 

Elena Barone Chism
Associate General Counsel - Retirement Policy
 

endnotes

[1] The 2017-2018 Priority Guidance Plan is available at: https://www.irs.gov/pub/irs-utl/2017-2018_pgp_initial.pdf#page=7.

[2] See ICI Memorandum No. 30726, dated June 2, 2017, available here: https://www.ici.org/my_ici/memorandum/memo30726.

[3] Section references are to the Internal Revenue Code.