In March 2020, Congress passed the CARES Act in response to the COVID-19 pandemic. Among its many provisions, the law granted some contribution and benefit restriction relief for single-employer defined benefit plans. On August 6, the Internal Revenue Service (IRS) released Notice 2020-61 to provide technical guidance in this area in a question and answer format. Guidance in the Notice supersedes conflicting instructions already published for the Form 5500 Schedule SB.
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