
DOL and IRS Looking for Delinquent Form 5500 Filers To encourage delinquent Form 5500 filers to take advantage of the Delinquent Filer Voluntary Compliance (DFVC) program, the IRS and the U.S. Department of Labor (DOL) are jointly searching various databases to identify potential non-filers. Delinquent filers who are "caught" may not participate in the DFVC program, which offers substantially reduced civil penalties for delinquent filings. DOL Releases Blackout Notice Guidelines The U.S. Department of Labor (DOL) has released requirements for blackout notices to 401(k) plan participants as required by the Sarbanes-Oxley Act enacted earlier this year. Compensation at the Crossroads: The Stock Option Debate Accounting scandals have focused legislative, media and corporate attention on accounting for stock options, and there have been calls for new laws and revamped accounting rules. Legislative Wrap-Up: Highlights, Accomplishments and Postponements The 107th Congress finished its work with a post-election “lame duck” session — further legislative action must wait until the 108th Congress convenes in January. During the 2001-2002 term, Congress focused on a range of benefits-related issues. IRS Announces 2003 Benefit Limits The IRS has announced the annual cost-of-living and statutory adjustments of various dollar limits for employee benefit plans.
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