The IRS has issued a final rule confirming that deductions allowed under Internal Revenue Code section 67(e) for costs incurred in connection with the administration of a trust or estate are deductible despite the suspension of miscellaneous itemized deductions under the 2017 tax reform law.
The Internal Revenue Service has issued two new guidance documents on the transfer of individual retirement account funds into a state unclaimed property fund.
ABA Chairman Jim Edwards takes office at an unexpectedly difficult moment—and with a uniquely suited portfolio of skills.
The American Bankers Association today urged the Department of Labor to withdraw a recent proposal that would add significant regulatory requirements regarding a fiduciary’s proxy voting activity under the Employee Retirement Income Security Act.
Business conditions were most often called the single biggest challenge facing community banks, according to an annual survey released yesterday by the Conference of State Bank Supervisors.
The Financial Crimes Enforcement Network has issued a final rule establishing minimum standards for anti-laundering programs for institutions lacking a federal functional regulator, including state chartered non-depository trust companies, private banks and non-federally insured credit unions.
The Securities and Exchange Commission today approved amendments to the definitions of “accredited investor” under Regulation D and “qualified institutional buyer” definition under Rule 144A.
The Department of Labor today issued an interim final rule implementing section 203 of the bipartisan Secure Act of 2019 requiring that defined contribution plans (such as 401(k) plans) include two lifetime income illustrations on a plan participant’s pension benefit statement at least once every 12 months.
ABA today welcomed the Department of Labor’s long-awaited re-proposal to regulate investment advice fiduciaries under the Employee Retirement Income Security Act.
The American Bankers Association this week urged the Department of Labor to withdraw a proposal that would limit pension fiduciaries’ consideration of environmental, social and governance-related issues when selecting plan investments.