Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.
Compliance August 20, 2018
IRS Extends Date for Opinion Letters for Third Remedial Amendment Cycle
The IRS notes that Rev. Proc. 2017-41 modified the pre-approved letter program by combining the master & prototype and volume submitter programs into a new opinion letter program.
Reported by PLANSPONSOR Staff
The Internal Revenue Service (IRS) has published Revenue Procedure 2018-42 to extend the deadline for submitting on-cycle applications for opinion letters for pre-approved defined contribution (DC) plans for the third six-year remedial amendment cycle to December 31, 2018.
Under Rev. Proc. 2017-41, this submission period is scheduled to expire on October 1, 2018.
The IRS notes that Rev. Proc. 2017-41 modified the pre-approved letter program by combining the master & prototype and volume submitter programs into a new opinion letter program. Under this program, providers of pre-approved plans may apply for new opinion letters once every six years.« Unions Object to Recouping Overpayment of Pensions From Members