IRS Releases new LRMs for IRAs

[Borsley]

I was surprised to find new LRM's for Traditional, Roth, and SIMPLE IRA's on the IRS website. They are effective June 2010.

http://www.irs.gov/retirement/article/0,,id=97182,00.html

(scroll towards bottom of the page).

Although these were long rumored (and it is assumed new model IRA plan documents will follow), I haven't read or heard anything about these being released. I'm curious if anyone has seen or heard of the LRM's being released from either IRS notifications/newsletters or any industry-type groups? I like to monitor these developments and want to be sure I'm tapped into the best resources for these types of things going forward. Thanks!

[Ron Snyder]

Good info. Thanks for the post. Like you, I had heard nothing. But they love to get projects crossed off their list by June 30th so they don't lap over into the next fiscal year. So we should expect some additional last minute filings. (I am waiting for one on captive insurance arrangements which they promised to have before 6/30).

[Borsley]

Finally! The IRS releases the expected corresponding information via Revenue Ruling 2010-48.

http://www.irs.gov/pub/irs-drop/rp-10-48.pdf

[mbozek]

Good info. Thanks for the post. Like you, I had heard nothing. But they love to get projects crossed off their list by June 30th so they don't lap over into the next fiscal year. So we should expect some additional last minute filings. (I am waiting for one on captive insurance arrangements which they promised to have before 6/30).

I thought the IRS fiscal year ends Sept 30 which is the the last day of the Federal Budget year.