Notice to Interested Parties

[Archimage]

I am starting a new plan on a standardized prototype document. I realize that I do not have to submit to the IRS for determination. Do I still have to post a Notice to Interested Parties?

[david rigby]

I believe the Notice to Interested Parties is an advance notice that you are making a filing request with the IRS. If no filing request is made, it seems logical that no advance notice is relevant.

[Guest dubya]

Archimage,

I recall well over 10 years ago, when I did documents for a company, that there was a NIP that was done, even if you weren't submitting for a letter. I can't recall if it was done for only non-standardized plans that choose not to submit, or if it applied to standardized and non-standardized prototypes. It's been a long time since I did one, but I kind of recall that it was very similar to the NIP used in filing for a letter. However, the text stated that the plan has been adopted/restated, and that the Plan sponsor has chosen not to file for a letter. Later on in the NIP, the dates were different from a "filing" NIP, since they referred to the adoption date of the amendment and not the letter submission date. Otherwise, they were real similar

Both versions of these NIP's were strictly boilerplate from Corbel. I don't know if things have changed and this non-filing version of the NIP is still needed or not, but I know we did them way back when.

[Guest Therese]

I believe the requirement to notify interested parties of adoption of a standardized plan was eliminated. See Rev. Proc. 95-6, Sec. 2.04.

[Bob R]

In the past, the NIP was required for all plans (including standardized plans where no DL filing was being made). But, as pointed out, in 1995 the rule was modified so that the NIP is only needed when a DL is being requested.

[wmyer]

Does anyone have an opinion on this? Suppose a standardized (master) plan has maintained a prior standardized plan that covered some of the same participants. Under old rules, a plan in this situation had to file for a determination letter and, of course, provide a notice to interested parties. Under new guidance, such a plan no longer has to file for a determination letter. However, suppose the plan chooses to file for a determination letter after the master plan receives its opinion letter or GUST. Does the standardized plan have to provide a notice to interested parties?