A client alert from Drinker Biddle & Reath goes into detail about the IRS’ recent expansion of its determination letter program and notes that the IRS is still considering input given about further expansion.
Tag: Determination Letter Program
The agency will accept determination letter applications for hybrid plans for a certain period and for merged plans on an ongoing basis.
Under the restricted determination letter program created by IRS Revenue Procedure 2016-37, a plan can now request a determination letter only in very limited circumstances; attorneys with Groom Law Group are calling for a new expansion of the program.
Following the IRS' curtailment the determination letter program for retirement plan sponsors, McDermott Will & Emery is releasing an opinion letter and operational review program for individually designed plans.
In the absence of the determination letter program, the law firm is helping plan sponsors of tax-qualified plans remain compliant with IRS plan document requirements.