IRS Proposes Revision to Determination Application

December 11, 2012 ( - The Internal Revenue Service (IRS) recently released proposed revisions to Form 5300, the Application for Determination for Employee Benefit Plan, and its instructions.

The draft revised Form 5300 is dated February 2013, so it is possible it could replace the current Form 5300 effective for determination letter submissions filed on or after February 1, 2013 (i.e., effective for Cycle C filers).   

According to law firm McDermott Will & Emery, the draft revised Form 5300 asks the plan sponsor to provide some additional information, such as: 

  • Identify each plan amendment using a number or name (i.e., “First Amendment”);
  • Classify each plan amendment as an interim amendment only, a discretionary amendment only or both;
  • Disclose the due date of the plan sponsor’s tax return, including extensions, if applicable, for the year in which an interim amendment was adopted;
  • Designate the specific tax return form used by the plan sponsor to file its return;
  • Note whether any issue was resolved during the last remedial amendment cycle before the U.S. Department of Labor or the Voluntary Compliance Program of the Employee Plans Compliance Resolution System of the IRS;
  • Report whether the plan uses a normal retirement age below age 62, if applicable;
  • Inform the IRS of any pending determination letter application; and
  • Describe the plan’s 401(k) safe harbor design, if applicable. 


The draft Form 5300 is at–dft.pdf.