Coronavirus (COVID-19) News and Resources
Coronavirus (COVID-19) Webcasts
Subscribe to Free Daily Newsletters
Post a Job

Featured Jobs

Retirement Plan Administrator

Steidle Pension Solutions, LLC
(Lebanon NJ)

Steidle Pension Solutions, LLC logo

Retirement Plan Consultant

DWC - The 401(k) Experts

DWC - The 401(k) Experts logo

Senior Plan Consultant

Jocelyn Pension Consulting
(Telecommute / San Rafael CA / Boulder CO)

Jocelyn Pension Consulting logo

Director of Regulatory Affairs

Health Plans Inc
(Westborough MA)

Health Plans Inc logo

Retirement Plan Administrator


SPS logo

Free Daily News and Jobs

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Get the BenefitsLink app LinkedIn
Webcasts  >  Upcoming, by Date   |   Recorded
Conferences  >  Upcoming, by Date   |   Upcoming, by State
Combined  >  Upcoming, by Date   |   Recorded or Upcoming, by Sponsor

View More Strafford Webcasts and Conferences

ERISA Pre-Approved and Customized Benefit Plans: Overhauled IRS Procedures and Determination Letter Process


Nov. 14, 2017
Recorded Online

Please join Kevin E. Nolt, Director at Trucker Huss and Carolyn M. Trenda, Counsel at McGuireWoods who will be speaking in an upcoming Strafford live webinar.

In 2016 the IRS changed the determination letter process to substantially limit employers with customized benefits plans to receive a determination letter on its ongoing plan. Rev. Prov. 2016-37 became effective January 1, 2017. Employers with customized plans must now annually review the IRS’s Required Amendment List. The Service also indicated to plan sponsors that it intends to periodically issue the Operational Compliance List to assist employers in the maintenance of qualified status and compliance.

The removal of the routine determination letter application process and resulting protection has led some employers with customized plans to consider shifting to pre-approved plans. In fact, the IRS is actually encouraging employers to make that transition. In Revenue Procedure 2017-41, the IRS revised the procedures it uses to review and approve “pre-approved” retirement plans in an effort to streamline the process and liberalize the types of plans that will qualify as pre-approved.

Employers with customized plans need to assess whether it is more beneficial to transition to a pre-approved plan. If not, then they need to follow new steps to ensure they are in compliance with IRS rules --- assurance that is needed now that the IRS determination letter protection is not routinely available. Employers with pre-approved plans still need to be aware of the Service's change in pre-approval protocols, especially if they have at all considered adopting a customized plan.

Our panel will discuss the IRS’ changes to its determination letter process limiting the ability of employers with customized benefits plans to obtain a determination letter, and new procedures for employers to ensure their plans maintain their tax-exempt status. The program will also discuss newly revised IRS procedures for reviewing and approving “pre-approved” retirement plans. Finally, the program will provide guidance to employers seeking to transition from customized to pre-approved plans.

The panel will review these and other key issues:

  • Revenue Procedure 2016-37: Changes to determination letter process
  • Revenue Procedure 2017-41: New procedures for IRS review and approval of “pre-approved” retirement plans
  • Guidance for employers transitioning from customized to pre-approved plans

After the presentations, there will be a live question and answer session so we can answer your questions about these important issues directly.

More Information, How to Register

© 2020, Inc.