Form 5310

[Belgarath]

Haven't run into this yet, but undoubtedly will soon. Line 3C on the 5310 says that if you don't have a determination letter, you have to submit initial plan, all amendments, etc....

Under IRS Announcement 2001-77, there will be batches of Prototype and Volume Submitter plans where adopters no longer file for determination letters, and instead use the document sponsor's Opinion or Advisory letter as a determination letter.

My question is this: has anyone talked to the powers that be in the Plan Termination unit at IRS to determine if such plan adopters can, under Line 3C(1), answer "yes" and submit a copy of the most recent Opinion/Advisory letter plus subsequent amendments, or must they answer "no" and be forced to go back to day one, or at least to the last actual determination letter? It would seem consistent with the spirit of 2001-77 to allow the former rather than to require the latter, but I don't know. Anybody have any information/experience? Thanks!

[BFree]

As a follow-up to a 5310 filing, we were asked to submit the original plan document (from day one) of a plan that has always been on a prototype. I think we tried your suggestion and were not allowed to do it.

[Belgarath]

Thanks. This is new for them, too, so maybe this will be changed in the future. Maybe someone at ASPA should raise this issue at the podium at the next ASPA conference?

[Theresa Lynn]

Bfree,

Just curious, can you get around submitting every prototype document by submitting a 5300 determination request on the most recent version of the plan, in conjunction with also submitting (as a separate submission) a Form 5310 submission? I was just thinking about the possibility where a sponsor may no longer be able to find every possible version of the plan since day one. I did not know if this was a question raised when you were required to submit all former documents.

[E as in ERISA]

You might also consider this:

http://benefitslink.com/IRS/ep-qual-assurance.pdf

At least you wouldn't have to go back to day one.

[BFree]

I don't know if we could have gotten a letter on the document first and then the termination in order to avoid getting the documents from day one. We expect that what we submitted to the follow-up question will suffice.