Today in ERISA History
Jan. 7, 2002 – The IRS issues the Quality Assurance Bulletin on Interested Party Comments, FY-2002 No. 2. It clarifies the procedures the IRS will use when it receives comments from an interested party...
View ArticleIRS Updates Determination Letter Procedures for Multiple Employer Plans
After the Dept. of Labor issued Advisory Opinion 2012-04a, the IRS quietly updated the determination letter application procedure for multiple employer plans. On June 5, 2012, in updated section 7.11.7...
View ArticleNew IRS FAQ on New Form 2848
In March of 2012, the IRS revised Form 2848 Power of Attorney and Declaration of Representative. Today, the IRS posted a new FAQ on their website explaining the changes made to Form 2848. One of the...
View ArticleToday in ERISA History
April 3, 2008 – The IRS issues Quality Assurance Bulletin FY-2008 No. 1 on Multiemployer Plans: Determination Procedures. It discusses how the IRS treats auxiliary documents, such as collective...
View ArticleIRS Hosting Free Webinar on Friday, March 30, 2012 About Determ Letters
On Friday, March 30, 2012, from 2pm ET to 2:50pm ET, the IRS is hosting a free webinar on the recent changes the IRS made to its’ determination letter program. Don Keiffer, Area Manager in IRS Employee...
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 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...
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ESOP/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 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...
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IRS 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...
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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...
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