- Disaster Relief – West Virginia
In response to severe storms, straight-line winds, flooding, landslides, and mudslides in parts of West Virginia, the IRS and PBGC have issued disaster relief. - DOL Released Model Notice
The Department of Labor published a model notice to facilitate compliance with notice requirements in PTE 2002-51.
In response to severe storms, straight-line winds, flooding, landslides, and mudslides that began February 15, 2025, the Internal Revenue Service (IRS) and Pension Benefit Guaranty Corporation (PBGC) extended various deadlines for impacted businesses and taxpayers in West Virginia.
Individuals who reside or have a business in Greenbrier, Logan, McDowell, Mercer, Mingo, Monroe, Summers, Wayne, and Wyoming counties may be eligible for certain deadline relief for deadlines on or after February 15, 2025, and before November 3, 2025. Deadlines are extended to November 3, 2025.
Below is a partial list of retirement-impact tax filing and payment deadlines that may be extended:
- Retirement plan loan repayments may be temporarily paused under Internal Revenue Code section 72(p)(2)
- Required minimum distributions under Internal Revenue Code section 401(a)(9)
- The 10% additional income tax continues to not apply even if the following is missed during the relief period:
- Substantially equal payments made over the participant’s life or joint lives of the participant and designated beneficiary
- Deadline for using a distribution from an IRA for a first-time home purchase by the close of the 120th day after the distribution is received
- Prior tax year contribution deadlines for retirement plans
- Indirect rollover distribution deadlines
- 60-day rollovers
- Rollover of qualified loan offsets
- Refunds as a result of
- Excess deferrals
- ADP/ACP non-discrimination testing
- Eligible automatic contribution arrangement (EACA) withdrawals
- Excess IRA contributions
- Deadline for recontributing qualified reservist distributions
- Form 5500 and Form 8955-SSA filing
- Form 5948 for IRAs
- PBGC premium payments
- PBGC deadlines that are based on the Form 5500 deadline
- Single Employer Plan Termination Forms 500 and 501
For any questions related to IRS deadlines and other disaster-related issues, the IRS has a toll-free number at
Initially published on November 21, 2022, in the appendix of the proposed rule in the Federal Register, the Employee Benefits Security Administration of the Department of Labor (DOL) published a model notice that may be used to satisfy the written notice requirement for Prohibited Transaction Exemption (PTE) 2002-51.
The Voluntary Fiduciary Correction Program (VFCP) was originally introduced in 2002 with the intention of encouraging employers and plan fiduciaries to comply with ERISA by allowing them to correct certain fiduciary breaches if specific conditions are met. If VFCP is available, employers and plan fiduciaries may obtain excise tax relief as provided under PTE 2002-51; however, they are required to provide a notice of the correction to interested persons.
On March 18, 2025, the DOL released a copy of the Model Participant Notice to assist employers and plan fiduciaries with the notice requirement. Employers and plan fiduciaries are not required to use the Model Participant Notice, but can create their own as long as it meets the notice requirements of PTE 2002-51.