IRS Expands Determination Letter Program for 403(b) Retirement Plans | Practical Law
The Internal Revenue Service (IRS) has issued Revenue Procedure 2022-40 (Rev. Proc. 2022-40), which updates the IRS's determination letter program. Among other things, Rev. Proc. 2022-40 expands the determination letter program to allow plan sponsors to submit determination letter applications for individually designed Internal Revenue Code Section 403(b) plans.