GUST determination letter application must be filed by February 28, 20

[Guest 91smithie]

Can anyone point me to the place where it says specifically that a GUST determination letter application must be filed no later than February 28, 2002 vs. received by February 28, 2002. I know the answered is filed but I cannot prove it.

[BFree]

Why is there a February 28 deadline?

What will the IRS do differently after Feb 28? - Not accept determination letter filings for individually drafted plans? - Not review the GUST provisions in those plans?

Sorry I don't have an answer to the original question.

[david rigby]

You should probably get your attorney to respond to this, but here is my non-lawyer understanding:

The filing deadline is not 2/28/02. However, if you do file by that date, and the IRS finds some "deficiency" in your document, you will be permitted to correct it retroactively (no harm, no foul). If you submit it after 2/28/02, and there is a deficiency, the correction process may not be as "clean". (Sorry to be so vague, but that's what happens when you have to talk to lawyers all the time.)

With regard to your specific question, my experience is that the postmark date is what counts.

[BFree]

Thank you. That makes perfect sense.

[Guest slt]

I generally agree with Pax. What Pax is stating can be found in Section 7502(a) of the Internal Revenue Code. This is called the "timely mailing as timely filing/paying" rule.

One thing to keep in mind is that you can also use private delivery services and the rules are different here.

A private delivery service can be used, but must be one that is OKAYED by the IRS. These include Airborne Express, Overnight Air Express Service, DHL, FedEx, UPS (Next day Air, 2nd Day Air, Worldwide Express Plus, etc). IF YOU USE A NON-DESIGNATED PRIVATE DELIVERY SERVICE, THE DATE OF RECEIPT BY THE IRS IS THE DATE THE APPLICATION IS FILED - so watch out! You can find this in Notice 99-41.

Note that there is a DIFFERENT address that must be used when using express mail or a delivery service.

If you are using express mail or a delivery service, send the items to EP Determinations at:

Internal Revenue Service,

201 West Rivercenter Blvd.,

Attn: Extracting Stop 312

Covington, KY 41011.

Otherwise, send to EP Determinations at:

Internal Revenue Service

201 West Rivercenter Service

P.O. Box 192

Covington, KY 41012-0192

I personally prefer to use FedEx because I can track the document and print off a copy to keep in the files that I actually sent off the application on time.

[Moe Howard]

To what address is a GUST determination letter application (for a volume submitter plan) supposed to be mailed to (by 02/28/02) ??

What about the actual amendment ? ..... To what address is it supposed to be mailed to (by 12/31/2002) ??

[Guest slt]

Volume Submitter Specimen Plans are sent to:

Internal Revenue Service

P.O. Box 2508

Attn: VSC, Room 4106

Cincinnati, OH 45201

The address used for express mail or delivery services for Volume Submitter Specimen Plans is:

Internal Revenue Service

550 Main Street

Attn: VSC, Room 4106

Cincinnati, OH 45202

Not sure about your last question - where to send the amendment? I know in a regular 5300, the amendment is included with the determination letter filing (in fact, it is a necessary part of it). Why would you not also send the amendment to the same address above?

[Moe Howard]

slt: Sorry. Rather than saying "Gust determination application due by 02/28/02" ..... I should have said "Certification of intent to adopt a pre-approved volume submitter plan".

I was trying to determine if my TPA is on the ball on not.

My TPA sent me a "Certification Of Intent To Adopt A Pre-Approved Volume Submiter Plan". The TPA instructed me to sign it and mail it back to the TPA. The certification basically says that I (the plan sponsor) certify that I intend to adopt a volume submitter plan sponsored by the TPA as approved for GUST by a favorable determination letter.

Now I have found out that the TPA has already filed the Gust determination letter application to IRS and simply wants me to agree that I will adopt the amended plan once it is approved by the IRS.

I was trying to find out (in my prior post) if I had to mail my signed certification to the IRS. I have since found out that I don't.

Thanks for your reply and sorry for the confusion.