Internal Revenue Service (IRS) Content

Several ICI member firms have reported receiving notifications from the Internal Revenue Service (IRS) informing them that their funds' tax information was leaked as part of the "Littlejohn" data breach at the IRS. These notices state that a former IRS contractor "has been charged...

On January 10, 2025, the Internal Revenue Service and Treasury Department released proposed regulations providing guidance on the new automatic enrollment requirements under section 101 of the SECURE 2.0 Act.

The IRS and Treasury Department released Announcement 2025-02, relating to the applicability date of future final regulations relating to required minimum distributions.

The IRS recently released Notice 2024-77, providing guidance on retirement plans' treatment of inadvertent benefit overpayments.

ICI on October 7, 2024, filed a comment letter with the Department of Treasury (Treasury) and the Internal Revenue Service (IRS) on Notice 2024-55.

On June 20, 2024, the Internal Revenue Service issued Notice 2024-55, which provides guidance regarding two provisions of the SECURE 2.0 Act—Withdrawals for Certain Emergency Expenses and Penalty-Free Withdrawal from Retirement Plans for Individual in Case of Domestic Abuse. Both...