When tax-exempt or non-U.S. taxpayers invest in U.S. businesses, unwanted and unintended U.S. tax obligations can follow without careful planning. Blocker corporations have become a common strategy employed...
Obtaining a Phase I environmental site assessment (ESA) is essential to conducting environmental due diligence for commercial real estate transactions. The goal of a Phase I ESA is to evaluate readily...
Artificial intelligence (AI) tools and resources are inundating the news, social media, professional seminars, and inboxes. AI is part of every conversation across industries and professional services...
Do you need guidance in defending against claims brought under the recently overhauled California's Private Attorneys General Act (PAGA)? Read Private Attorneys General Act in California: Defending...
Confidently present your case in chief to the Trademark Trial and Appeal Board (TTAB) with this opening trial brief that an opposer/petitioner (plaintiff) may use in an opposition or cancellation proceeding...
Plan administrators of ERISA-covered defined contribution plans must soon update their participant benefit statements to display each participant’s account balance so it projects the balance as a single life annuity and a qualified joint and survivor annuity beginning at age 67. In this way participants can see what their vested (assuming 100% vesting) plan account balances will provide as an income stream in retirement. The SECURE Act, signed into law in December 2019 (Pub. L. No. 116-94, Div. O), is responsible for this disclosure, and requires that it be provided at least annually. Recent DOL FAQ guidance indicates that defined contribution plans must incorporate their first lifetime illustration by June 30, 2022, or later for plans not permitting participant-directed investment. The hope is that the disclosure will raise participant awareness of their retirement savings readiness (or unreadiness). See 85 Fed. Reg. 59132 (Sept. 18, 2020) for the interim final rule.
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