The Automatic IRA Act introduced in Congress would require employers with 10 or more employees that do not offer a qualified retirement plan to automatically enroll their staff in IRAs (“auto—IRAs”). Smaller employers and new employers would be exempt. Employees would be able to opt out of automatic enrollment. It is projected that the measure could boost retirement savings by $8 billion annually.
Barbara Weltman
Big Ideas for Small Business, Inc.
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BOI reporting cont'd. But this isn’t the end of the story. The government filed a notice of appeal with the appellate court, and FinCEN says “deadline stay—voluntary submission only” (https://bit.ly/3ZpKxwU Note: There are cases challenging CTA that are still pending.