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IRS Implements Changes to Employee Plans Determination Letter Program in Revenue Procedure 2014-6
Practical Law Legal Update 7-553-5606 (Approx. 4 pages)
IRS Implements Changes to Employee Plans Determination Letter Program in Revenue Procedure 2014-6
by Practical Law Employee Benefits & Executive Compensation
| Published on 03 Jan 2014 • USA (National/Federal) |
The Internal Revenue Service (IRS) issued Revenue Procedures 2014-6 and 2014-8, updating the employee plans determination letter program and user fees.
On January 2, 2014, the IRS issued Internal Revenue Bulletin 2014-1, which includes Revenue Procedures 2014-6 () and 2014-8 (). Revenue Procedure 2014-6 is a general update of Revenue Procedure 2013-6 and includes some minor changes to the employee plans determination letter program. Specifically, the determination letter program is modified to:
- Refer to Revenue Procedure 2013-12, which has superseded Revenue Procedure 2008-50 (see Legal Update, IRS Releases New Employee Plans Compliance Resolution System (EPCRS)).
- Add instructions for paying user fees through www.pay.gov.
- Alter the sample notice to interested parties in the revenue procedure's exhibit, by changing the address for submitting comments to Employee Plans (EP) Determinations.
- Change the submission requirements to provide that terminating plans need not be restated when submitted for determination letter applications.
- Identify the Cumulative List to be used for pre-approved multiple employer plans submitted on Form 5300.
Revenue Procedure 2014-6 is effective February 1, 2014.
The IRS also issued Revenue Procedure 2014-8, which makes companion changes to the IRS user fee program.