IRS Intends to Issue Advisory and Opinion Letters for Pre-approved Defined Benefit Plans

Announcement 2018-5 provides that the IRS intends to issue opinion and advisory letters for master and prototype and volume submitter defined benefit plans restated for Notice 2012-76 on March 30, 2018.

Document Excerpt
The Internal Revenue Service (IRS) intends to issue opinion and advisory letters for pre-approved master and prototype (M&P) and volume submitter (VS) defined benefit plans that were restated for changes in plan qualification requirements listed in Notice 2012-76, 2012-52 I.R.B. 775 (2012 Cumulative List), and that were filed with the IRS during the submission period for the second six-year remedial amendment cycle under Rev. Proc. 2007-44, 2007-2 C.B. 54. The IRS expects to issue the opinion and advisory letters on March 30, 2018, or, in some cases, as soon as possible thereafter. An employer using these pre-approved plan documents to restate a plan for the plan qualification requirements included on the 2012 Cumulative List will be required to adopt the plan document by April 30, 2020.

Link

https://www.irs.gov/pub/irs-drop/a-18-05.pdf

About Us

Benefits Forward is a news site for professionals in the field of employee benefits. Our goal is to provide the latest information about the benefits field and to host a community discussion regarding related issues.

Seminars, Conferences & Other Events

  • Sorry, there are no articles in this category.

Need Help Correcting Plan Errors?

Contact us for either consultation on how you can Self Correct or to propose cost effective correction methods using VCP. Or contact us to submit under VCP on your behalf or on behalf of your client. Contact us by email.