IRS to Accept Old Determination Forms Until March 2002

November 29, 2001 ( - The Internal Revenue Service has given plan sponsors two more months to use older versions of plan determination applications.

IRS Announcement 2001-122 set the new deadline at March 31, 2002 for forms revised in 1998 or 2001. Officials are revising the determination forms again after the determination process was simplified.

The list of forms where older versions are still good until March includes:

  • Form 5300, Application for Determination of Employee Benefit Plan, and accompanying Schedule Q, which has been made optional
  • Form 5307, Application for Determination for Adopters of Master or Prototype or Volume Submitter Plans
  • Form 6406, Short Form Application for Determination for Minor Amendment of Employee Benefit Plan
  • Form 5303, Application for Determination for Collectively Bargained Plan, which is being discontinued
  • the 1999 revision of Form 5309, Application for Determination of Employee Stock Ownership Plan.