IRS Updates Procedures for Determination Letters, User Fees

Revenue Procedure (Rev. Proc.) 2014-6 sets forth the procedures of the IRS for issuing determination letters on the qualified status of pension, profit-sharing, stock bonus, annuity, and employee stock ownership plans (ESOPs) under §§ 401, 403(a), 409 and 4975(e)(7) of the Internal Revenue Code of 1986, and the status for exemption of any related trusts or custodial accounts under § 501(a).

The revenue procedure, effective February 1, 2014, updates the plan submission requirements; reflects the current submission cycle and dates; has been clarified to refer to plans submitted under § 401(a); adds a section to refer to prototype and volume submitter plans submitted under § 403(b); and adds instructions for user fees that are paid via www.pay.gov, among other changes.

Rev. Proc. 2014-8 provides guidance for complying with the user fee program of the IRS as it pertains to requests for letter rulings, determination letters, etc.; on matters under the jurisdiction of the Commissioner, Tax Exempt and Government Entities Division; and requests for administrative scrutiny determinations. It includes definitions for § 403(b) pre-approved plans and updated user fee amounts for various employee plan user fees, among other changes.