IRS To Significantly Trim Determination Letter Program

July 28, 2015

Published July 28, this Law360 article by Maria Rasmussen and Allison Tanner discusses new changes in the IRS’s determination letter program for tax-qualified retirement plans. Maria and Allison describe the background of the program, the elimination of five-year remedial amendment cycles and off-cycle determination letter applications, changes to the remedial amendment period and other modifications. They also forecast some consequences to these developments, including employers switching to plans preapproved by the IRS, changes to compliance processes, and effects on mergers and acquisitions.

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