Blinky the 3-eyed Fish Posted November 6, 2003 Posted November 6, 2003 Does anyone know the process, user fees, etc. for submitting a 457 plan for an tax-exempt organization to the IRS? I am a complete novice when it comes to these, so any information would be useful. "What's in the big salad?" "Big lettuce, big carrots, tomatoes like volleyballs."
Harwood Posted November 6, 2003 Posted November 6, 2003 I think you just file a Top Hat Exemption with the DOL. No fees. Details in DOL Reg 2520.104-23
Kirk Maldonado Posted November 7, 2003 Posted November 7, 2003 Are you talking about getting a PLR on whether the plan satisfies the Section 457 requirements? If so, at the beginning of each year, the IRS issues a revenue procedure that lays out all of the relevant details. (I don't know the number of this year's procedure.) Kirk Maldonado
Blinky the 3-eyed Fish Posted November 7, 2003 Author Posted November 7, 2003 Yes Kirk, that is what I am talking about. I just wasn't sure if the PLR was needed or if there was some other mechanism. I can research the promulgation to determine the process. Thanks. "What's in the big salad?" "Big lettuce, big carrots, tomatoes like volleyballs."
Kirk Maldonado Posted November 7, 2003 Posted November 7, 2003 A PLR is not required. Few 457 plans get one. But getting one certainly is prudent. Kirk Maldonado
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