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IRS Guidance on Favorable Determination Letters for Individually Designed Plans Expected This Summer
Milliman Retirement Town HallLink to more items from this source
June 22, 2015

"The IRS has informally communicated a possible halt, beginning in 2016, to the issuance of IRS determination letters for individually designed retirement plans except for new plans or terminating plans. A formal announcement with details and an opportunity for comment is expected this summer.... While there is no federally regulated requirement to have a favorable determination letter for each of your retirement plans, there are many good reasons for employers to seek them: Reliance on audit ... Approval of amendments to plan ... Due diligence for corporate restructuring transactions[.]"

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