Can the opinion letter date be entered on line 22b of the 5500? If lef

[Guest Frank Jackson]

Can the opinion letter date be entered on line 22b of the 5500? I heard that a plan is more susceptible to audit if line 22c is no and 22b is blank?

[Guest GG]

I have not seen the incident of audit increase for the plans I provide services to. I leave this item blank for my Standardized Prototype Plan adopters.

May I ask where you got this information from?

[Guest Frank Jackson]

I read it in one of the 5500 preparer's manuals. However, the statement was very general. What have you used in this situation for non-standard plans. Thanks for your response.

[Guest RS Vatalaro]

I think there's a code on page 1 of the 5500 (under plan features) for a prototype. If so, that should alert the IRS to the fact that since the plan is a prototype it may not have a det ltr specific to the plan. I also have heard that no det ltr is IRS audit flag.

I also have put an asterisk in the det ltr blank and footnoted that page of the 5500 "prototype." Truthfully I don't know if that does any good.

[Jean]

Point of interest regarding the 1999 form, it does not appear that the determination letter date is a reportable item on the revised form. The description of protoype plan has been expanded to include a statement that the plan is the subject of a favorable notification letter.