Are we restating too quickly

[Santo Gold]

The IRS has informed us that our EGTRRA Volume Submitter document is expected to be approved (like most other VS and prototype dox) sometime in the first quarter of 2008. Our VS document has had several IRS reviews and we believe the form it is in is close to the final version that the IRS will issue the letter on.

Is there any downside to preparing the new document for all of our clients right now? Basically our plan is to have them signature-ready so that literally within 2 weeks after the IRS letter is issued, we plan to send out all of our EGTRRA dox for signatures. I'm used to being involved in dox being restated in the last few minutes before the RAP deadline, not doing them in the first few minutes. Any thoughts?

Thanks

[Bob R]

The only problem is making sure that what the employer signs is the approved document. The problem is that a plan isn't "final" until the letters are actually issued. While the plan may have "informal" approval and there is no active IRS review of the plan taking place, there is always a chance that something will change at the last minute. You may find that this risk outweighs the advantages of getting them prepared in advance of the actual letters.

The IRS has informed us that our EGTRRA Volume Submitter document is expected to be approved (like most other VS and prototype dox) sometime in the first quarter of 2008. Our VS document has had several IRS reviews and we believe the form it is in is close to the final version that the IRS will issue the letter on.

Is there any downside to preparing the new document for all of our clients right now? Basically our plan is to have them signature-ready so that literally within 2 weeks after the IRS letter is issued, we plan to send out all of our EGTRRA dox for signatures. I'm used to being involved in dox being restated in the last few minutes before the RAP deadline, not doing them in the first few minutes. Any thoughts?

Thanks