IRS modifies Favorable Determination Letter 2002 for Form 5300 filers

Employee Plans (EP) Determinations has modified the “Favorable Determination Letter 2002″ for Form 5300 applications that meet updated review criteria. The modified letter will not include the dates of adoption for plan documents or amendments. Otherwise, it is identical to the currently issued Letter 2002, including a reference to the applicable cumulative list and an expiration date. For now, the IRS will include an insert explaining the change to Letter 2002 for cases meeting the updated review criteria.

Rev. Proc. 2013-6 describes the procedures for issuing determination letters. Section 21.01 notes that determination letters are based on the facts and demonstrations presented to the IRS in connection with the determination letter application. Therefore, the processing change does not affect the scope of or reliance on a determination letter. The IRS notes that, as with all favorable determination letters, applicants should retain Form 5300 and all documents they submit with their application. Questions or comments can be emailed to the IRS at RetirementPlanQuestions@irs.gov.

Source: IRS Employee Plans News, Issue 2013-4, September 18, 2013.

For more information on this and related topics, consult the CCH Pension Plan Guide, CCH Employee Benefits Management, and Spencer’s Benefits Reports.

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