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Guest Article
(From the December 27, 2005 issue of Deloitte's Washington Bulletin, a periodic update of legal and regulatory developments relating to Employee Benefits.)
Updated IRS User Fee Schedule for Employee Plans
The IRS is implementing a new user fee schedule for 2006, including increased fees for Employee Plans (EP) letter rulings and determination letters. Effective February 1, 2006, the range of EP letter ruling fees will increase from $95 - $5,415 to $200 - $14,500. And effective July 1, 2006, under the revised and centralized EP determination letter program, the range of fees for opinion and advisory letters and determination letters involving Forms 5300, 5307 and 5310 will increase to $200 - $15,000. The current range is $125 - $6,500. EP compliance fees and compliance correction fees under the Employee Plans Compliance Resolution System (EPCRS) remain at current levels.
According to the IRS, the increased user fees are a response to an Office of Management and Budget directive to charge user fees reflecting the full cost of providing goods or services when the benefits to the recipient otherwise exceed those received by the general public. The new fee structure is designed to more accurately reflect the resources expended.
The IRS has published a comprehensive, updated schedule of user fees for EP on its Web site, [click here].
| The information in this Washington Bulletin is general in nature only and not intended to provide advice or guidance for specific situations.
If you have questions or need additional information about articles appearing in this or previous versions of Washington Bulletin, please contact: Robert Davis 202.879.3094, Elizabeth Drigotas 202.879.4985, Taina Edlund 202.879.4956, Laura Edwards 202.879.4981, Mike Haberman 202.879.4963, Stephen LaGarde 202.879-5608, Bart Massey 202.220.2104, Diane McGowan 202.220.2077, Martha Priddy Patterson 202.879.5634, Tom Pevarnik 202.879.5314, Carlisle Toppin 202.220.2067, Tom Veal 312.946.2595, Deborah Walker 202.879.4955. Copyright 2005, Deloitte. |
BenefitsLink is an independent national employee benefits information provider, not formally affiliated with the firms and companies who kindly provide much of the content and advertisements published on this Web site, including the article shown above. |