IRS Mandates Electronic Signatures for Form 5500 in 2026
Long Island employers must adapt to new IRS requirements mandating electronic signatures and PIN authentication for Form 5500 annual benefit plan reporting in 2026.
Thomas Hart
Department of Labor Tightens Fiduciary Responsibility Standards
New Department of Labor guidelines increase employer accountability for retirement plan management, with potential penalties reaching thousands for non-compliance with fiduciary standards.
State Retirement Program Registration Begins This March
New York private employers must register for the state retirement program starting March 2026, with phased rollout by company size. Non-compliance could mean penalties for Long Island businesses.
Long Island Employers Face March 31 Tax Form Deadline
The ACA's 1095-C tax forms must be filed by March 31. Late filing triggers $310 penalties per employee, plus IRS audits. Many Long Island employers miss this deadline because they don't track the right data all year.
Dependent Care Spending Accounts Jump to $7,500 Limit
The dependent care FSA limit increased to $7,500 in 2026 - the first increase since 1986. But your cafeteria plan needs updates before employees can access the higher contribution amount.
Flex Spending Accounts: Use It or Lose It Season
Most employees forfeit hundreds of dollars in FSA funds by March 15. That's wasted compensation hitting your bottom line. Smart employers turn January into FSA education month to protect their benefits investment.
Attitude-Based Hiring Transforms Long Island Workplaces
Long Island small businesses are ditching traditional skills-first hiring to focus on attitude and cultural fit. The payoff? Lower turnover, better team dynamics, and reduced recruiting costs for growing companies.