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IRS Curtailment of Determination Letter Program: What Does it Mean for Your Company’s Retirement Plan?

Complimentary Webinar

Employers who sponsor qualified retirement plans will soon see radical changes to the IRS determination letter program (the current program for obtaining IRS approval regarding the tax-qualified status of the sponsor’s plan document). Starting January 1, 2017, the IRS will no longer issue periodic determinations regarding the qualified status of “individually designed” retirement plan documents. On and after that date, the IRS will generally issue determination letters only upon a plan’s initial adoption or upon its termination. The good news is that plan sponsors will no longer have to restate their plans (whether they need it or not) and submit them (with an ever-increasing user fee) for a new IRS determination every five years. The bad news is that sponsors who amend their plan will have no assurance that the terms of the amended plan continue to satisfy the requirements of the Tax Code.

In this one-hour webinar, we will examine what this significant change in IRS policy means for sponsors of plans that use individually designed (rather than “prototype” or “pre-approved”) plan documents, and how sponsors should start thinking about life without a favorable determination for their retirement plan.

This webinar is pre-approved for 1 HRCI general credit.