IRS to Host Webcast About Determination Letter Program Changes

The Internal Revenue Service (IRS) has announced a free webcast about the determination letter program changes on August 11 at 2:00 p.m. Eastern time.

Webcast attendees will hear IRS officials break down the new guidance for individually designed plans. IRS officials will also cover when limited determination letters may be available in the future; the new approach to remedial amendment periods; changes to interim amendment rules; and new tools to help plans make required amendments.

The webcast comes as the IRS is working to implement Revenue Procedure 2016-37, generally effective January 1, 2017, which fundamentally overhauls the determination letter program for tax-qualified individually designed plans, and changes the requirements for when plan amendments must be adopted under IRC Section 401(b). Further, Rev. Proc. 2016-37 ends the remedial amendment cycle (RAC) system and replaces it with a new approach to the remedial amendment period.

Registration for the webcast is here.