Notice 2012-06 extends the transition relief provided in Rev. Rul. 2011-1 and Rev. Rul. 2008-40 for certain group trusts and plans that qualify under the Puerto Rican Internal Revenue Code and that participate in group trusts and certain retirement plans that benefit Puerto Rican residents.
Document Excerpt
This notice extends and expands the transition relief provided under Rev. Rul. 2011-1, 2011-2 I.R.B. 251, and Rev. Rul. 2008-40, 2008-2 C.B. 166, for certain group trusts, certain retirement trusts that qualify under the Puerto Rico Internal Revenue Code (Puerto Rico Code) and that participate in group trusts, and certain qualified retirement plans that benefit Puerto Rico residents. This notice also provides additional time for governmental retiree benefit plans described in § 401(a)(24) of the Internal Revenue Code (Code) (§ 401(a)(24) plans) to be amended to satisfy the applicable requirements of Rev. Rul. 2011-1.
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