On January 20, 2021, the Puerto Rico Department of the Treasury (Departamento de Hacienda, commonly known as "Hacienda") issued Administrative Determination No. 21-01 (AD 21-01),...

On February 20, 2020, the Puerto Rico Treasury Department (PR Treasury) issued Internal Revenue Circular Letter Number 20-09 (CC RI 20-09)...

On September 17, 2022, Puerto Rico Governor Hon. Pedro Pierluisi issued Executive Order No. OE-2022-045, declaring a state of emergency due to the passing of Hurricane Fiona through the Island. Likewise, on September 21, 2022.

As with the Previous Guidance, qualification amendments may be adopted through a plan restatement or a separate plan amendment.

The PR Treasury, in accordance with EO 2017-067, issued AD 17-29 establishing such rules and procedures.

Act No. 1 of January 31, 2011 establishes a new Puerto Rico Internal Revenue Code ("2011 Code") and repeals the Puerto Rico Internal Revenue Code of 1994, as amended ("1994 Code") almost in its entirety.

For a host of legal and practical reasons, the only feasible alternative for disposing of the accounts of missing participants in a terminating 401(k) or other defined contribution retirement plan...

Over the last several decades, a multitude of factors contributed to the steep economic downturn of the Commonwealth of Puerto Rico, including a contracting economy, population decline, and changes in tax status and ...