Mass-Submitter v. Non-Mass Submitter

[Guest jcarlos]

In simple language, could someone explain to me the difference between a mass-submitter plan and a non-mass submitter plan?

An example would be very helpful.

Thank you in advance.

[JAY21]

My take on it is that mass submitter plans would include: Volume Submitter Plans, Prototype Plans (both standardized and non-standardized), and Master Plans/Trusts (usually a bank type of doc). I think non-mass submitters are those that don't have an IRA pre-approval letter on the qualification language part of the plan doc, presumably these are mostly or all customized plans.

[WDIK]

Option #1: Very heavy plans versus weightless plans.

Option #2: Plans that continually vote for Ted Kennedy versus other plans.

Option #3: Submissions that meet the following definition from Revenue Procedure 2000-20 versus those that do not.

08 New Mass Submitter Definition - Both Rev. Proc. 89-9 and Rev. Proc. 89-13 provided procedures for simplified processing and expedited approval of mass submitter plans. Under Rev. Proc. 89-9, a mass submitter was defined as any person that submitted applications on behalf of at least 10 sponsoring organizations that were adopting the identical plan. Under Rev. Proc. 89-13, a mass submitter was defined as any person that could establish that at least 50 unaffiliated sponsors would adopt the identical plan. In general, this revenue procedure requires that at least 30 unaffiliated adopting sponsors adopt a basic plan document of the mass submitter, but it also provides a grandfather rule so that any person that received an opinion letter as a mass submitter under Rev. Proc. 89-9 will generally qualify as a mass submitter under this revenue procedure.

[Guest jcarlos]

Thank you. You both cleared that up for me......I appreciate your help.

[Effen]

Option #1: Very heavy plans versus weightless plans.

WDIK - obviously you have forgotten your High School Physics

Mass- Physics. A property of matter equal to the measure of an object's resistance to changes in either the speed or direction of its motion. The mass of an object is not dependent on gravity and therefore is different from but proportional to its weight.

Therefore, technically a mass-submitter would have a very large body, but not necessarily be heavy.

[WDIK]

Effen, your clarification is certainly warranted and upon further reflection, option #1 doesn't make sense on any level. There does not appear to be any way for a submitter to have no mass. The only massless particles that immediatly come to mind are gluons, gravitons, neutrinos and photons.

Fortunately I am now beyond the grasp of my high school physics teacher, so he cannot try to change my transcripts.