In light of the devastation following Hurricane Matthew, the U.S. Department of Labor (DOL) has announced an update on compliance with employee benefit plan rules under the Employee Retirement Income Security Act (ERISA) for those adversely impacted.
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The guidance provided generally applies to employee benefit plans, plan sponsors, employers and employees, and service providers to such employers who were located— as of the applicable dates referenced in Internal Revenue Service (IRS) Announcement 2016-39—in a county identified as a covered disaster area due to the hurricane’s devastation. The counties also are referenced in IRS Announcement 2016-39.
More information on the IRS’ Hurricane Matthew guidance is located on its disaster relief website page, here.
The relief provided under this announcement is in addition to the Form 5500 Annual Return/Report filing relief already provided by the IRS in accordance with the various Hurricane Matthew news releases listed on the IRS disaster relief website page. See the regulations under § 7508A and Section 8 of Rev. Proc. 2007-56, 2007-34 I.R.B. 388.
For more information on Hurricane Matthew relief under ERISA, see “FAQs for Participants and Beneficiaries Following Hurricane Matthew” or contact the department’s Employee Benefits Security Administration or by calling 1-866-444-3272. Questions about IRS guidance should be directed to the IRS at 1-877-829-5900.