austin3515 Posted September 2, 2015 Posted September 2, 2015 Employee was allowed to participate from day 1, when plan has a 1 YOS requirement. Only one ee (a Non-Highly) was affected. ECPRS Appendix B, Section 2.07 contains the rules for retroactively amending the plan to conform to the operations. In the examples, they indicate that the amendment was submitted for a determination letter. I don't think today I am even permitted to submit my pre-approved document (or an amendment thereto) for a determination letter. So can I do the amendment without submitting for a DL? QDROphile 1 Austin Powers, CPA, QPA, ERPA
Bird Posted September 2, 2015 Posted September 2, 2015 So can I do the amendment without submitting for a DL? I think so...can't cite anything. Ed Snyder
ETA Consulting LLC Posted September 3, 2015 Posted September 3, 2015 No, you don't submit to a DL. However, you include as a reason for why you are not submitting for a DL :"PLAN USES A PREAPPROVED DOCUMENT". It is then, treated the same as if you submitted. I do it is all the time as I once faced this question and it is what the IRS agent instructed me to do. Good Luck! CPC, QPA, QKA, TGPC, ERPA
austin3515 Posted September 3, 2015 Author Posted September 3, 2015 Like that answer a lot... But where pray tell do you put that note? Austin Powers, CPA, QPA, ERPA
Kevin C Posted September 3, 2015 Posted September 3, 2015 If you are looking for a cite, Rev. Proc. 2013-12, Section 6.05(1)(b) refers you to 6.05(1) when determining if you need to file for a determination letter on an SCP corrective amendment. 6.05(1) says if you correct using a pre-approved document don't submit for a letter. ETA Consulting LLC 1
austin3515 Posted September 3, 2015 Author Posted September 3, 2015 I was, and thank you!! Austin Powers, CPA, QPA, ERPA
ETA Consulting LLC Posted September 3, 2015 Posted September 3, 2015 As for the note, you'd write it on Form 8950 Line 7c. Good Luck! CPC, QPA, QKA, TGPC, ERPA
austin3515 Posted September 3, 2015 Author Posted September 3, 2015 What is an 8950? Austin Powers, CPA, QPA, ERPA
austin3515 Posted September 4, 2015 Author Posted September 4, 2015 Honest to goodness. Austin Powers, CPA, QPA, ERPA
austin3515 Posted September 4, 2015 Author Posted September 4, 2015 Wait a minute, that's the EPCRS form. I see now... I want to correct under SCP. I don't want to do a filing at all. Austin Powers, CPA, QPA, ERPA
austin3515 Posted September 4, 2015 Author Posted September 4, 2015 But we are all in agreement that I can do the amendment under SCP and not submit for a determination letter, correct? Austin Powers, CPA, QPA, ERPA
austin3515 Posted September 4, 2015 Author Posted September 4, 2015 I thought it was a nice apology and I had accepted it but now I am not so sure... I didn't think the apology confirmed the question I had though. Austin Powers, CPA, QPA, ERPA
Mike Preston Posted September 4, 2015 Posted September 4, 2015 Thought brevity was called for (and I was typing on a tablet). I'm sorry you don't want to submit. There are no amendments I'm aware of that are meant to fix things that can be handled under SCP. [And before someone shouts -11g at me, keep in mind that isn't a SCP issue; it is specifically authorized by the reg.] So, sorry, but if you are doing a retroactive amendment you have to submit under EPCRS. Am I wrong on this? Did the latest (2015) changes to EPCRS authorize certain retroactive amendments to conform the plan document to actual plan operation in certain circumstances without a required VCP filing? Nothing would surprise me.
austin3515 Posted September 4, 2015 Author Posted September 4, 2015 It's part of EPCRS See page 116, there is even an example that references correction under SCP. http://www.irs.gov/pub/irs-drop/rp-13-12.pdf Austin Powers, CPA, QPA, ERPA
Mike Preston Posted September 4, 2015 Posted September 4, 2015 It is indeed! I had forgotten there were limited exceptions to the general rule. Thanks!
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