PORTFOLIO

Qualified Plans — IRS Determination Letter Procedures (Portfolio 360)

Tax Management Portfolio, Qualified Plans — IRS Determination Letter Procedures, No. 360-5th, focuses on the procedures for applying to the IRS for a letter determining that a pension plan is qualified under §401(a) of the Internal Revenue Code.

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DESCRIPTION

Tax Management Portfolio, Qualified Plans — IRS Determination Letter Procedures, No. 360-5th, focuses on the procedures for applying to the IRS for a letter determining that a pension plan is qualified under §401(a) of the Internal Revenue Code. Factors considered by the IRS are discussed and the necessary forms for most types of qualified pension plans are reviewed. Procedures for obtaining other types of IRS rulings and rulings from other federal agencies in relation to qualified pension plans are addressed. The Portfolio also addresses the circumstances under which sponsors of §401(a) and §403(b) plans can rely on opinion and advisory letters for pre-approved plans.
Worksheets contain practitioner aids and applicable IRS guidance.


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AUTHORS

KATHY DAVIDSON IRELAND
Kathy Davidson Ireland, B.S., Lebanon Valley College (1977); J.D., Order of the Coif, Marshall-Wythe School of Law, College of William & Mary; Executive Editor for Student Contributions, William & Mary Law Review (1980), LL.M., Labor Law, The National Law Center, George Washington University (1982); member: District of Columbia Bar, Maryland Bar.

TABLE OF CONTENTS

Detailed Analysis

I. Introduction

Introductory Material

A. Overview

1. Plan Selection

a. Defined Benefit Plans

b. Defined Contribution Plans

c. Permitted Disparity (Social Security Integration)

2. Plan Document

3. Plan Adoption

4. Plan Qualification

a. Benefits of Tax-Exempt Status

b. Advantages of Determination Letters

c. Employee Plans Compliance Resolution System Issues

d. Plan Termination

B. Scope and Purpose of Portfolio

II. Determination Letter Applications

A. Scope

B. What to File

1. Form 5300, Application for Determination for Employee Benefit Plan

2. Schedule Q, (Form 5300), Elective Determination Requests

3. Form 5307, Application for Determination for Adopters of Master or Prototype or Volume Submitter Plans

4. Form 5309, Application for Determination of Employee Stock Ownership Plan

5. Form 5310, Application for Determination for Terminating Plan

6. Supporting Documents

a. User Fees

b. Power of Attorney

c. Other Attachments

d. Cover Letter

7. Compiling the Package

C. Where to File

1. Determination Letter Applications

2. Related Procedures

a. IRS EP Technical

b. Tax Court Review

(1) Petitioner

(2) Notice

(3) Exhaustion of Administrative Remedies

(4) Plan in Effect

(5) Time for Action

D. When to File

1. General Remedial Amendment Period

a. Cyclical Remedial Amendment Periods

(1) In General

(2) General Remedial Amendment Period Extension

(3) Interim Amendments

(4) Pre-Approved Plans

b. EGTRRA Remedial Amendment Period

2. Extensions of the Remedial Amendment Period

3. Relief After the Remedial Amendment Period

E. Notice to Interested Parties

1. Who Are Interested Parties?

2. Type of Notice

III. Other Procedures for Obtaining Written Guidance

A. Other IRS Rulings and Written Guidance

1. Closing Agreements

2. Information Letters

3. Private Rulings

4. Rulings Areas

5. Rulings - Procedures

B. Department of Labor Rulings

1. Advisory Opinions

2. Information Letters

3. Prohibited Transaction Exemptions

C. Jurisdiction of Other Courts

D. Freedom of Information Act


WORKING PAPERS

Working Papers

Table of Worksheets

Worksheet 1 Cover Letter to Application for Determination Letter

Worksheet 2 Notice to Interested Parties of Plan's Application for a Determination Letter from the IRS

Worksheet 3 Selected IRS Alert Guidelines - Vesting and Minimum Participation

Worksheet 4 Selected IRS Alert Guidelines - Defined Benefit Plans: Coverage and Nondiscrimination; Permitted Disparity

Worksheet 5 Selected IRS Alert Guidelines - Distributions and Contributions

Worksheet 6 Plan Amendment Deadlines for Qualified Plans

Worksheet 7 Cumulative List of Changes in Pension Plan Qualification Requirements

Worksheet 8 Schedule of User Fees

Bibliography

OFFICIAL

Statutes:

Internal Revenue Code:

Treasury Rulings:

Cases:

UNOFFICIAL

Texts and Treatises:

Periodicals:

1983

1989

1992

1994

1997

2001

2002

2003

2006