Practice Management
The Oregon Retirement Savings Board (ORSB) has issued an updated proposal for making a temporary extension of two deadlines related to OregonSaves permanent. The ORSB had issued the proposal on March 9.
In an April 2 letter to Oregon State Treasury Rules Coordinator Kevin Willingham, Oregon Treasury Savings Network Executive Director Michael Parker pointed out that the initial proposal left intact a May 15, 2020 due date in the discussion of determining the number of employees by employers employing four or fewer employees.
Specifically, the proposal had left unchanged a registration date of May 15, 2020 regarding employers that have no employees reported on Form OQ, the Oregon Quarterly Tax Report.
In an April 2 letter to Oregon State Treasury Rules Coordinator Kevin Willingham, Oregon Treasury Savings Network Executive Director Michael Parker pointed out that the initial proposal left intact a May 15, 2020 due date in the discussion of determining the number of employees by employers employing four or fewer employees.
Specifically, the proposal had left unchanged a registration date of May 15, 2020 regarding employers that have no employees reported on Form OQ, the Oregon Quarterly Tax Report.
The proposal reads that for employers employing four or fewer employees, in determining the number of employees, the employers shall use data as submitted on the 2016 4th quarter Form OQ except for:
- An employer that first meets the definition of “employer” after Jan. 1, 2017, in which case the employer is to use the most recently filed Form OQ; and
- An employer with no employees reported on Form OQ.
The original proposal had said that the registration deadline for the latter was May 15, 2020. Parker suggested changing that to Jan. 15, 2021, as many other deadlines in the proposal are. The new date is now part of the proposal for which the ORSB is accepting comments through April 21.
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