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IRS Updates Revenue Procedure on M&P and VS Plan Opinion and Advisory Letters, Extends to April 2 Deadline for DC Plan Applications
The Internal Revenue Service (IRS) has announced it is extending to April 2, 2012, the deadline to submit on-cycle applications for opinion and advisory letters for pre-approved defined contribution (DC) plans for the plans’ second six-year remedial amendment cycle. Under Revenue Procedure 2011-49, the submission period for these applications was scheduled to expire on January 31, 2012.
(update 12/27/2011)
The IRS has issued Revenue Procedure 2011-49 which sets forth the requirements for requesting opinion and advisory letters regarding the acceptability under Internal Revenue Code sections 401 and 403(a) of the form of pre-approved plans (that is, master and prototype (M&P) and volume submitter (VS) plans). Revenue Procedure 2011-49 updates Revenue Procedure 2005-16.
(10/6/2011)
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