AICPA weighs in on proposed SECURE 2.0 regs

AICPA issues recommendations on proposed SECURE 2.0 Act

The American Institute of CPAs (AICPA) has made several recommendations addressing the proposed regulations concerning automatic enrolment in retirement plans under the SECURE 2.0 Act.   It submitted a letter to the Department of the Treasury and Internal Revenue Service (IRS).  The Act, which became law on 29 December 2022, mandates that new 401(k) and 403(b) plans automatically enrol eligible employees, starting with the 2025 plan year, to boo…

AICPA weighs in on proposed SECURE 2.0 regs

The American Institute of CPAs is asking the Treasury Department and the Internal Revenue Service for greater clarity in their proposed regulations for the SECURE 20.0 Act of 2022.

AICPA Responds to Proposed Regulations under SECURE 2.0

This requirement generally applies to 401(k) and 403(b) plans established after Dec. 29, 2022, the date the SECURE 2.0 Act became law, with exceptions for new and small businesses, church plans, and governmental plans.