IRS Extends Plan Document Deadline to Jan. 31, 2012
The IRS released Rev. Proc. 2011-49 today (Oct. 5, 2011). Rev. Proc. 2011-49 is the update to Rev. Proc. 2005-16, and officially supersedes Rev. Proc. 2005-16. Rev. Proc. 2005-16 contained the...
View ArticleIRS Re-Interprets the Form 8717 Determination Letter Fee Exemption
On Oct. 20, 2011, the IRS issued Notice 2011-86, which re-interprets when a plan qualifies for exemption from paying user fees when filing a determination letter application. With the recent IRS...
View ArticleFree IRS Webinar about ESOP Determination Letters on Oct. 28, 2011
Tomorrow, Oct. 28, 2011, the IRS is holding a free webinar on ESOP determination letter applications from 2pm ET to 3pm ET. Even if you do not handle ESOPs, it is worth taking an hour to attend this...
View ArticleESOP/KSOP Determination Letter Backlog Here to Stay (for now)
I was fortunate to attend the IRS phone forum on ESOP determination letters last Friday. The webinar was very good. The IRS addressed a number of outstanding issues, and provided some handy tips....
View ArticleERPAs and the PTIN Requirement – as Clear as Mud
Today, Nov. 3, 2011, the IRS issued Notice 2011-91 on Certain Enrolled Retirement Plan Agents Not Required to Obtain a PTIN. The notice is a short 2-pages long. It states that the IRS intends to amend...
View ArticleFree ERPA CPE from the IRS on Nov. 30, 2011
On Nov. 30, 2011, the IRS is holding a free phone forum on the Self Correction Program (SCP) and the Closing Agreement Program (CAP). It will focus on: (1) current EPCRS issues found in SCP and CAP...
View ArticleJust in Time – The IRS Issues an Extension and a Sample Amendment for Code...
Just when the mad scramble to adopt last minute Code section 436 amendments was about to begin, the IRS has issued another extension, accompanied by a sample amendment. Notice 2011-96, released Nov....
View ArticleTarget Benefit Plans: On the Edge of Extinction
One of the more interesting effects caused by the IRS’ elimination of the National Sponsor category in Rev. Proc. 2011-49 may be the projected elimination of pre-approved target benefit prototype and...
View Article2011 IRS Cumulative List Provides Year in Review
Nothing provides a Year in Review list for plan documents like the annual IRS Cumulative List. Yesterday, the IRS released Notice 2011-97 containing the 2011 Cumulative List. It’s primary purpose is...
View ArticleIRS Extends DC Opinion/Advisory Deadline to April 2, 2012
It is rare that anything released by the IRS elicits a response of “We celebrate tonight!”, but it happened today with Announcement 2012-3. At 11:31am ET today, Dec. 22, 2011, the IRS extended the...
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