close
Share with your friends

Proposed regulations: Multiple employer plan (MEP) regulations subject to OIRA review

MEP proposed regulations subject to OIRA review

OMB’s Office of Information and Regulatory Affairs (OIRA) acknowledged that it has received for review from the U.S. Treasury Department proposed regulations concerning multiple employer plans (MEPs).

1000

Related content

The proposed regulations are listed on the OIRA website as having been received on May 13, 2019, and are listed as:

The proposed regulations are further described on the OIRA website as follows:

These are proposed regulations relating to the tax qualification of plans maintained by more than one employer pursuant to section 413(c) of the Internal Revenue Code, often referred to as multiple employer plans or MEPs. The proposed regulations would provide limited relief to a defined contribution MEP in the event of a failure by one employer maintaining the plan to satisfy an applicable qualification requirement or to provide information needed to ensure compliance with a qualification requirement. The proposed regulations would affect participants in MEPs, MEP sponsors and administrators, and employers maintaining MEPs.

Treasury regulations that are identified as “major” regulations are subject to review by OMB’s OIRA before being issued, pursuant to Executive Order 13771. 

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal