Highlights of Internal Revenue Bulletin 2025-22 – 5/27/2025

Posted by Lee Reams Sr., BSME, EA on

In this release, the IRS narrows plan sponsor requirements for mortality table approvals and provides §842(b) data for foreign insurers. See Rev. Procs. 2025-21 and 2025-20 for full details.

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The Internal Revenue Bulletin (IRB) is the authoritative instrument for announcing official rulings and procedures of the IRS and for publishing Treasury Decisions, Executive Orders, Tax Conventions, legislation, court decisions, and other items of general interest.

EMPLOYEE PLANS  

Rev. Proc. 2025-21, page 1448.

Section 12.02 of Rev. Proc. 2024-32 specifies that, in conjunction with the replacement of the generally applicable mortality tables, certain plan sponsors that wish to continue using plan-specific mortality tables must develop and request approval for the use of new plan-specific substitute mortality tables for plan years beginning on or after January 1, 2026. Rev. Proc. 2025-21 modifies section 12.02 of Rev. Proc. 2024-32 and provides immediate relief for some of those plan sponsors by narrowing the category of plan sponsors that are required to request approval of new plan-specific substitute mortality tables.

INCOME TAX 

Rev. Proc. 2025-20, page 1448. 

Revenue Procedure 2025-20 provides domestic asset/liability percentages and domestic investment yields needed by foreign life insurance companies and foreign property and liability insurance companies to compute their minimum effectively connected net investment income under section 842(b) of the Internal Revenue Code for taxable years beginning after December 31, 2023.ocuments.