Under Examination? Determination Letters

[elmobob14]

The IRS asks for plan documentation when reviewing an application for a favorable determination letter and we don't have it. Section 5.09(3) of the Rev. Proc. 2013-12 says that we are "under investigation" and thus, ineligible for VCP.

Are we just screwed or do any of you have any suggestions of how to correct these issues without going into Audit CAP?

[Everett Moreland]

Maybe the quality assurance bulletin here will help: http://www.irs.gov/pub/irs-tege/qab_102411.pdf

[elmobob14]

Thanks Everett. It certainly seems like we're screwed based on the quality assurance bulletin.

[Guest KennyH]

Depends on the plan documentation required. Frequently the end result is you still get a favorable determination letter. We have taken over several plans with historical document issues (i.e. possible missing participant notifications or properly signed amendments) and they have all ultimately received favorable letters without going into audit.