22 pages. "[A] Plan Sponsor that maintains a section 403(b) individually designed plan will be permitted to submit a determination letter application for an initial plan determination, for a determination upon plan termination, and in certain other circumstances identified by the IRS ... The earliest date a Plan Sponsor will be permitted to submit a determination letter application for a section 403(b) individually designed plan is June 1, 2023 ...

"This revenue procedure also [1] incorporates modifications of Rev. Proc. 2016-37 set forth in Rev. Proc. 2019-20 ... relating to the submission of determination letter applications for a determination with respect to Merged Plans, (2) clarifies and modifies the provisions of Rev. Proc. 2019-39 ... that relate to the Remedial Amendment Period for section 403(b) individually designed plan Form Defects first occurring after June 30, 2020, [3] extends the expiration of the Remedial Amendment Period for new qualified individually designed plans, [4] modifies the circumstances under which a plan is considered to have been issued an initial plan determination, and [5] modifies the scope of review of qualified individually designed plans submitted under the determination letter program.

"This revenue procedure does not modify or restate the provisions of Rev. Proc. 2016-37 relating to qualified pre-approved plans."  MORE >>