Missed cycle A deadline - now what?

[Guest skresq]

I know there was a similar post below, but in this case, the cycle A deadline was missed (for no good-faith or excusable reason). Is a VCP submission required? Is the plan's qualified status in jeopardy? Can/should we file off cycle as soon as possible? I can't find any information with respec to the consequences of missing the deadline.

[Belgarath]

I'm not clear from your post who didn't file what on time. Is this a case where a practitioner/sponsor did not file by the end of the cycle A deadline? If so, take a look at Revenue Procedure 2007-49, which I think should assist you.

[Guest Williams]

I have a similar issue, so I reviewed Rev. Proc. 2007-49. It only addresses failure of practioner or sponsor to file M&P or VS plan. Is there anything out there addressing what happens if individually-designed plan was not submitted during applicable Cycle?

[Belgarath]

Without taking the time to do a detailed reading, isn't this an allowable VCP correction under RP 2006-27, for a nonamender? There's an appendix for a sample submission guideline as well, Appendix E or F, I believe. But I'm going just from memory on this, so you don't want to take my word for it.

[Guest skresq]

To clarify my original post, the plan is an individually designed plan, and I agree that 2007-49 does not apply. 2007-44 states that an application for a determination letter beyond your cycle is treated as off-cycle, but I don't think a simple off-cycle filing is enough since we're dealing with EGTRRA as well. Appendix F of 2006-27 addresses vcp for interim non-amenders with respect to good faith interim EGTRRA amendments, which is not the problem here. Appendix E of 2006-27 addresses vcp for non-amenders and allows identification of "EGTRRA" as the failure. I would obviously like to avoid the cost and time of a vcp submission if it isn't necessary, but I'm starting to think Appendix E is the way to go. Any thoughts?

[Guest Richard Tennenbaum]

I think it is a simple off cycle submission as described in 2007-44. It's not an interim EGTRRA non-amender issue, at least I don't believe that it is.

[HarleyBabe]

I had the similar post but no one responded. There was relief if you missed the cycle A filing through January 8, 2008 in you were in good faith reliance. My question was, what exactly needs filed on the 8th. There was some hint that you could file a working document if you had all cumulative amendments signed but I think that was only if you met the original deadline. Does anyone know about this extension that was given? It is on the IRS website. If so, what exactly do I need to file?

[Randy Watson]

I think it is a simple off cycle submission as described in 2007-44. It's not an interim EGTRRA non-amender issue, at least I don't believe that it is.

Does anyone agree/disagree with this? It seems like an off cycle submission to me and I believe that means you just go to the "back of the line". Correct?

[Blinky the 3-eyed Fish]

VCP submission with a half-fee if filed by 1/31/08. 5300 filed with VCP sub.