IRS Revenue Procedures 2017-56 and 2017-57 Provide Guidance on Approval for Funding Method Changes for Defined Benefit Plans | Practical Law
The Internal Revenue Service (IRS) issued Revenue Procedures (Rev. Procs.)2017-56 and 2017-57. Rev. Proc. 2017-56 provides automatic approval for certain funding method changes for single-employer defined benefit pension plans subject to the minimum funding requirements of Code Section 430. Rev. Proc. 2017-57 provides the procedures for obtaining IRS approval for defined benefit plan funding method changes not covered in Rev. Proc. 2017-56.