IRS Rev. Proc. 2024-4 Updates the Determination Letter Program | Practical Law
The Internal Revenue Service (IRS) issued Revenue Procedure 2024-4 (Rev. Proc. 2024-4), which makes changes to the determination letter program and user fees.
The Internal Revenue Service (IRS) issued Revenue Procedure 2024-4 (Rev. Proc. 2024-4), which makes changes to the determination letter program and user fees.
Rev. Proc. 2024-4 includes changes to Rev. Proc. 2023-4 and provides:
General information about the types of advice provided by the IRS Tax Exempt and Government Entities Division, Employee Plans Rulings and Agreements Office (Employee Plans Rulings and Agreements).
General procedures for letter ruling and determination letter requests.
Specific procedures for determination letter requests.
The user fees for advice requested from Employee Plans Rulings and Agreements.
Requesting Determination Letters
Rev. Proc. 2024-4 modifies the determination letter program to:
Provide that Form 5300, Application for Determination for Employee Benefit Plan, Form 5307, Application for Determination for Adopters of Modified Nonstandardized Pre-Approved Plan, Form 5310, Application for Determination for Terminating Plan, and Form 5316, Application for Group or Pooled Trust Ruling must be submitted electronically via www.pay.gov (Section 6).
Updated User Fees
Regarding user fees, Rev. Proc. 2024-4 revises Appendix A, which provides a schedule of user fees, to update the user fees relating to:
Retirement plan sponsors and practitioners should be aware of the changes to the determination letter procedures and IRS fees instituted by Rev. Proc. 2024-4. Rev. Proc. 2024-4 generally took effect on January 2, 2024. Certain user fee changes are effective on July 1, 2024.