user fees

[Guest wortmanave]

Does anyone know what the user fee is to submit a 457 Plan to IRS and where did it come from?

thnks

[Alf]

$0.

No can do. Do you want to get a private letter ruling on specific issues? What are the issues (generally b/c you have to determine which branch has jurisidction).

[Guest wortmanave]

yes, a letter ruling to incorporate roth and deemed iras--thnx

[Alf]

The user fee will still be $0 for a PLR.

Really no can do. 457s can't have deemed IRAs or Roth 401(k)s.

[Guest wortmanave]

actually, 457(b) plans can have deemed iras--The types of qualified employer plans that can maintain a deemed IRA are:

IRC Section 401(a) plans, including pension plans, profit-sharing plans, money purchase plans, employee stock ownership plans, and 401(k) plans

IRC Section 403(b) tax sheltered annuity plans

IRC Section 457(b) plans for certain governmental units.

also, there is a user fee for a letter ruling--i think it is $6500 or so.........

[Guest TGeer]

With legal fees on top. I got one once, but it was for an entire state's 457, so it made economic sense even though the legal fee ended up around $7000. See how much an opinion of counsel costs. With an experienced (in 457) lawyer, it ought to be a lot less than $6500, particularly if that lawyer's documents are used. Some folks (albeit not many) toss one in with the price of the plan document.