News
IRS Releases Newly Proposed Cafeteria Plan Regulations
On Monday, August 6, 2007, the Internal Revenue Service published newly proposed cafeteria plan regulations. These proposed regulations replace, consolidate and in some cases change guidance that has been issued since cafeteria plans were first introduced. Once finalized, these new regulations are slated to take effect for plan years beginning on or after January 1, 2009.
Upon initial review, HFS Benefits believes these new regulations provide welcome updates to cafeteria plan operating rules. We are currently reviewing the proposed regulations in depth and will release further commentary in the coming weeks.
If you have any questions, please call our office.
To view a copy of the proposed regulations Employee Benefits-Cafeteria Plans; Proposed Rule.