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[ad_1] The requirement to file audited financial statements with your benefit plan’s Form 5500 depends on whether your plan is considered a large or a small depositor, which is determined by the number of participants in your plan at the start of the plan. year of the plan. The participants in your plan are: All …

[ad_1] On May 8, 2020, the federal government of Canada clarified through questions and answers that Employment Insurance (EI) rules allow employers to make additional (“top-up”) payments to workers through Supplementary Unemployment Benefit (SPI) plans do not apply to employees receiving the Canada Emergency Benefit (CEP). The PCU offers temporary income support to workers who …

[ad_1] updated on January 4, 2021 Update: Appropriation Act extends FSA relief The Consolidated Appropriations Act that President Trump signed in late 2020 allows employers who sponsor flexible spending accounts (FSAs) for health or dependents to allow participants to carry over any unused amounts in those accounts from 2020 to 2021 and from 2021 to …

[ad_1] In response to the COVID-19 pandemic, the IRS extended certain deadlines affecting employee benefit plans, including the deadline for filing Form 5500 for plan years ending September to November 2019 The new deadline, announced in Notice 2020-23, is July 15, 2020. Separately, the US Department of Labor (DOL) is extending the Employee Retirement Income …

On April 29, 2020, the Benefits Security Administration (EBSA), Department of Labor (DOL), Internal Revenue Service, and Department of Treasury (the Agencies) issued a Final Rule (Rule) regarding the extension of time limits under ERISA. and the Internal Revenue Code (Code). The rule applies to group health insurance, disability and provident schemes, pension schemes and …