Benefits & ERISA Law

Cycle C Applications: Will the Service 'Accept or Reject'?

By Nick Curabba et al.

Cycle C Applications: Will the Service 'Accept or Reject'?

Thanks to the PPA Blog for this good catch:  Looks like the IRS will require some additional documentation for the next round of determination letter applications.  In addition to the standard submission consisting of a Form 5300, including several explanatory attachments; Form 8717, with appropriate user fee; Form 2848; a complete copy of the plan document, with all amendments; the most recent favorable determination letter; a copy of the trust document, with amendments; and a statement explaining how any amendments made to the plan since the last favorable determination letter affect the plan, the Service wants even more.

According to Revenue Procedure 2008-6, Cycle C determination letter submissions also must include a copy of the plan and trust in which "all changes made to the most recently approved version of the plan (are) redlined or highlighted.  An application will be returned as incomplete if it fails to include a copy of the plan that redlines or highlights the changes to the most recently approved version of the plan."

One can only wonder what the Service may have in mind for Cycle D submissions...

Full post as published by Benefits Biz Blog on February 07, 2008 (boomark / email).