Recorded September 28, 2017
Eversheds Sutherland (US) attorneys Brenna Clark and Meredith O’Leary present, "Assessing Retirement Plan Compliance in a Post-Determination Letter World."
Historically, the Internal Revenue Service (IRS) has periodically issued letters to plan sponsors verifying that their plan documents satisfy certain Internal Revenue Code requirements. These determination letters provided comfort not only to plan sponsors, but also to related parties such as auditors, recordkeepers, lenders and buyers in M&A transactions. In 2015, the IRS announced that it was significantly limiting its determination letter program, effective January 1, 2017.
As we shift away from the determination letter program, plan sponsors and other parties with an interest in qualified retirement plans should review their options for assessing and documenting plan compliance, as well as new considerations in corporate transactions.
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