Determinations | |
Retirement Plans FAQs regarding Governmental Plan Determination Letters Frequently asked questions regarding governmental plan determination letters. Sample Plan Language for Section 409(p) Transfers Sample plan language under Code section 409(p) is provided for the transfer of an ESOP's S corporation shares. EGTRRA List of Master and Prototype (M&P) and Volume Submitter (VS) Defined Contribution Plans A listing of M&P and VS defined contribution plans that were submitted to the Service for EGTRRA opinion or advisory letters by January 31, 2006, the deadline for filing under Revenue Procedure 2005-16. List of Master and Prototype (M&P) and Volume Submitter (VS) Plans A listing of M&P and VS plans that were submitted to the Service for GUST opinion or advisory letters by December 31, 2000, the deadline for filing under Revenue Procedure 2000-20. Employee Plans User Fees Updated User fees for Employee Plans applications postmarked on or after July 1, 2006 have been updated. New Submission Procedures for Pre-Approved Plans and Individually Designed Plans Revenue Procedure 2005-66 establishes a new 6-year remedial amendment cycle for pre-approved plans and a 5-year staggered remedial amendment cycle for individually designed plans. This program will help the Service stabilize the receipt of determination letters over a periodic cycle, thus providing more efficient processing of applications. Where is My Determination Letter Request? Latest information on the processing of determination letter requests. EP Connections: Interview with Andrew Zuckerman and Robert Bell on the Updated Procedures on Staggered Remedial Amendment Cycles A discussion of the updated procedures on Staggered Remedial Amendment Cycles. Guidance on the Anti-Cutback Rules of Section 411(d)(6) Final and proposed regulations regarding the anti-cutback rules of section 411(d)(6) were published on 8/12/05. The anti-cutback rules protect accrued and early retirement benefits, retirement type subsidies, and other optional benefits offered under qualified retirement plans. EP Connections: Interview with Joseph Grant Meet Joseph Grant, Director, EP Rulings and Agreements. EP Determination Letter Resource Guide In response to the results of customer satisfaction surveys, the EP Determinations function has developed a user guide to help customers navigate the EP determination letter process. This guide will clarify the various steps in this process and will introduce our customers to resources that are available on the Retirement Plans Community web site. LRM Revisions The LRMs for most defined contribution plan topics have been revised except for cross-testing. GUST Program Closure - June 15, 2005 - Questions and Answers Q&As regarding Announcement 2005-36 which indicated that the GUST program for new defined contribution (DC) pre-approved plans (i.e. master and prototype (M&P) and volume submitter (VS) plans) will close on June 15, 2005. EP Provides Heinz Example The Treasury Department and IRS have issued Rev. Proc. 2005-23 that addresses the application of the Supreme Court Decision in Central Laborers' Pension Fund vs. Heinz. This example illustrates how plans can comply with the provisions of the revenue procedure and avoid plan disqualification. Clarification of Short Service Employee Memorandum On February 4, 2005, Carol Gold, Director Employee Plans issued a letter to Brian Graff, Executive Director/CEO of ASPPA, and to others, which clarifies a memorandum issued on October 22, 2004, regarding short service employees. Short Service Employees & Other Meaningful Benefit Schemes & Abuses A memorandum from Carol Gold, Director, EP addressing certain schemes which effectively limit the amounts payable under a retirement plan to a small number of highly compensated employees (HCEs) by limiting participation under the plan to HCEs and to rank and file employees with short periods of service. Section 401(a)(26) Issue Arising in Cash Balance Plan Determination Letter Applications June 6, 2002 memorandum issued by Paul Shutz, former Director EP, Rulings and Agreements addressing questions raised about whether certain newly established defined benefit plans with cash balance formulas provide "meaningful benefits" for employees. Unenrolled Preparers, Form 2848 and the IRS An expanded article from the Fall 2004 Employee Plans News regarding unenrolled preparers, Form 2848 (Power of Attorney and Declaration of Representative) and the IRS. Extension of the Remedial Amendment Period for EGTRRA Highlights and explanation of Revenue Procedure 2004-25. The revenue procedure extends the remedial amendment period under section 401(b) with respect to certain disqualifying provisions until the end of the EGTRRA remedial amendment period. EP Quality Assurance Bulletins Quality Assurance Bulletins issued by EP Quality Assurance Staff on topics of interest to ensure the consistent processing of case files by Employee Plans Specialists. Technical Assistance on Timing of EGTRRA Amendments Technical assistance memorandum issued by Paul Shultz, Director EP Rulings & Agreements which provides general technical assistance regarding the effect of restating a qualified plan for GUST after the plan has been amended for EGTRRA. Relationship between Revenue Ruling 2001-62 and Cash Balance Pension Plans The Service's position regarding an amendment to a cash balance pension plan adopting the new table set forth in Revenue Ruling 2001-62. Disaster Relief Information The Service has provided a variety of disaster relief measures for retirement plan sponsors including early distributions, leave donations, filing and funding relief and help from the IRS and Department of Labor. Alert Guidelines, Explanations & Plan Deficiency Paragraphs Forms and documents used by Employee Plans Specialists during their review of retirement plans. Plan sponsors are encouraged to review these items prior to submitting a determination letter application to the Service. Recurring Plan Issues Found in Determination Case Review In order to ensure that employers receive their determination letters timely and in correct form, the Service has identified frequently recurring defects in plan language that require corrective amendments and delay case closure. Tips for Expediting the Determination Letter Process These tips, if followed, should help accelerate the application process. Listing of Required Modifications (LRMs) A collection of information packages designed to assist sponsors who are drafting or re-drafting plans to conform with applicable laws and regulations. Correcting Plan Errors The Service has issued Rev. Proc. 2008-50 which updates the Employee Plans Compliance Resolution System (EPCRS), the comprehensive system of correction programs for sponsors of retirement plans. This page provides tools, an EPCRS overview, and other useful information to assist plan sponsors. Benefits Conferences Calendar A schedule of upcoming and recent IRS workshops and conferences focusing on retirement plan issues. Notice 2001-56 This notice provides guidance on the effective dates of certain EGTRRA provisions. Notice 2001-57 This notice provides sample EGTRRA plan amendments. |