Tuesday’s notice follows the recent publication of Notice 2007-6 , released on December 21, 2006, which revealed that the IRS was beginning to process determination letter cases in cash balance conversions (See IRS Opens Floodgates on Cash Balance Conversion Letter Requests ).
The Cycle A determination letter application will be reviewed at the same time and by the same person that is assigned the cash balance moratorium plan, according to the regulators. When submitting a Cycle A application, officials said it would be “helpful” if plan sponsors indicate in the cover letter that the plan has been subject to the moratorium on cash balance plans, the IRS said.
Regulators said Tuesday that the “expeditious” issuance of determination letters for cash balance moratorium plans, including Cycle A submissions, is a “high priority.”
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