The Internal Revenue Service, U.S. Department of Labor, and U.S. Department of the Treasury recently provided relief for businesses and individuals affected by Hurricanes Debby, Helene, and Milton. The relief extends various compliance deadlines for employee benefit plans in disaster areas designated by the Federal Emergency Management Agency (FEMA). The disaster areas span several states and include specific counties and cities.
This alert is broken into two sections: (1) an extension for Form 5500 reporting; and (2) additional plan administrative relief. This alert is relevant to any employer with employees and/or operations in one or more of the designated FEMA disaster areas. It may also apply to employers relying on third parties to assist or perform plan functions if the third party’s operations are within a disaster area. Our alert also addresses the beginning dates for relief, which vary slightly by state. Please note that the relief does not apply to Form 1094/1095 reporting required by the Affordable Care Act.
Our alert solely addresses relief applicable to health and welfare benefits. It does not address any relief or other guidance for retirement plans (e.g., 401(k) plans, pension plans, etc.) or other tax reporting and payment relief.
