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5310 Determination Letter Provides Document Reliance?


David MacLennan

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Does anyone have an opinion about what extent a Form 5310 determination letter provides plan document reliance? A GUST amendment is of course required to get the 5310 favorable letter. The determination letters I have received usually mention the GUST amendment in the letter. If you have a favorable 5310 letter, is it overkill to restate the plan into a GUST document?

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The favorable determination letter was issued based on the facts and circumstances presented in your 5310 application,which presumably included some kind of GUST amendment. As long as those facts and circumstances have not changed and the termination was completed timely you have reliance.On the other hand, if you got the letter a year ago and the assets have not yet been distributed,you might have to consider a new GUST plan.

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