IRS extends SECURE 2.0 deadlines and revises 2025 disclosure standards

Internal Revenue Bulletin: 2026-7

The IRS extended IRA amendment deadlines to 2027, updated the adequate-disclosure rules for 2025 returns, and published a new round of professional discipline.

Overview of Guidance

The IRS released Internal Revenue Bulletin 2026–7 on February 9, 2026. The issue includes:

• Notice 2026-9 on SECURE 2.0 amendment deadlines for IRAs and related arrangements.

• Rev. Proc. 2026-12 on adequate disclosure to reduce accuracy-related penalties.

• Announcement 2026-5 listing disciplinary sanctions imposed by the Office of Professional Responsibility.

Extension of IRA and SEP Amendment Deadlines

Notice 2026-9

• Extends the deadline to amend IRAs, SEP arrangements, and SIMPLE IRA plans for SECURE 2.0 compliance.

• The new deadline is December 31, 2027.

• Applies to:

  • Individual retirement accounts under §408(a) and (h).

  • Individual retirement annuities under §408(b).

  • SEP arrangements under §408(k).

  • SIMPLE IRA plans under §408(p).

The IRS cited the lack of finalized model amendment language and operational complexity as the reason for the extension.

Adequate Disclosure Rules Updated for 2025 Returns

Rev. Proc. 2026-12

• Updates the adequate disclosure standards used to reduce:

  • The §6662(d) accuracy-related penalty for substantial understatements.

  • The §6694(a) preparer penalty for unreasonable positions.

• Applies to:

  • Returns filed on 2025 tax forms for tax years beginning in 2025.

  • Short-year returns filed in 2026 using 2025 forms.

Key points:

• Incorporates §6662(m), added by the One Big Beautiful Bill Act.

• Lowers the substantial understatement threshold for disallowed applicable energy credits to 1%.

• Confirms that disclosure must still show a reasonable basis.

• Requires Form 8275 or 8275-R when an item is not listed as automatically disclosed.

No substantive expansion of safe harbors. This is primarily a rollover update with a statutory tweak.

Professional Discipline Announced

Announcement 2026-5

• Publishes recent disciplinary actions taken by the Office of Professional Responsibility.

• Covers attorneys, CPAs, enrolled agents, and unenrolled preparers.

• Sanctions include:

  • Indefinite suspensions by consent.

  • Public censures.

  • Monetary penalties.

• Actions are based on violations of Circular 230, including disreputable conduct.

The bulletin lists sanctioned individuals by state, name, credential, sanction type, and effective date.

Why It Matters

• IRA custodians and employers have more time to update governing documents without risking qualification issues.

• Preparers must apply the updated disclosure rules for 2025 filings, especially for energy credits.

• OPR discipline remains active and public, with continued focus on Circular 230 compliance.

The Takeaway

This bulletin quietly adjusts deadlines, updates penalty rules, and reminds practitioners that the IRS is still monitoring how returns are prepared and by whom.