These monthly indexes are cumulated on a semiannual basis, and are published in the last Bulletin of each semiannual period. The following types of amendments will not cause an Adopting Employer to lose reliance on an Opinion Letter: (1) amendments to the plan to add or change a provision (including choosing among options in the plan) or to specify or change the effective date of a provision, provided the Adopting Employer is permitted to make the modification or amendment under the terms of the 403(b) Pre-approved Plan, as well as under 403(b), and, in the case of a Standardized Plan, the provision is identical to a provision in the 403(b) Pre-approved Plan, except for the effective date; (2) sample or model amendments published by the IRS that specifically provide that their adoption will not cause a plan to fail to be identical to the 403(b) Pre-approved Plan; (3) amendments that adjust the limitations under 415, 402(g), 401(a)(17), and 414(q)(1)(B) to reflect annual cost-of-living increases; (4) plan language completed by the Adopting Employer if the overriding language is necessary to satisfy 415 because of the required aggregation of multiple plans under that section, in accordance with section 5.09; (5) interim amendments or discretionary amendments, as described in sections 11 and 12 of Rev. .14 Crediting of service taking into account 414(b), (c), (m), and (o) Each 403(b) Pre-approved Plan that is not a Governmental Plan must credit all service with any employer aggregated with the Adopting Employer under 414(b), (c), (m), or (o) and the regulations thereunder, as service with the Adopting Employer maintaining the plan. This information will be used to determine whether a plan is entitled to favorable tax treatment. See section 21 of this revenue procedure for a description of when the Remedial Amendment Period for a Form Defect in a 403(b) Pre-approved Plan expires. If the Provider does not wish to enable Adopting Employers to make loans available under their plans, the Provider would delete from the Providers plan the optional provisions in both the plan document and the adoption agreement. 97-29, 1997-1 C.B. The Provider must have a procedure to notify an Adopting Employer of amendments and restatements of the plan and to inform the Adopting Employer, when applicable, of the need to timely adopt or amend the plan, including in the case of both initial adoption and restatement of the plan. .14 The Department of the Treasury (Treasury Department) and the IRS expect to continue to update this Opinion Letter program revenue procedure, in whole or in part, from time to time, including providing further improvements based on comments received. Section 10.02 and 10.03 of Rev. The GSA website lists these rates by location. 2019-39 are to Rev. See section 8.03(6) regarding limitations on reliance. As a result, it will have a 403(b) Pre-approved Plan and be eligible for the Cycle system. 2. The IRS currently allows owner-operators to deduct 80% of statement, 2019 2013-22 provides that the IRS expects future guidance to require the restatement of every 403(b) Pre-approved Plan by the plans Provider every six years. 2 The Department of the Treasury and the IRS also anticipate, subject to available resources, establishing a determination letter program for 403(b) individually designed plans that will be similar to the determination letter program for 401(a) individually designed plans. All rights reserved. Proc. .01 Provisions required in all 403(b) Pre-approved Plans Each 403(b) Pre-approved Plan must comply with the requirements set forth in sections 5.03 through 5.17. Obsoleted describes a previously published ruling that is not considered determinative with respect to future transactions. (4) The IRS, in its sole discretion, determines that a Nonstandardized Plan is an individually designed plan due to amendments to the plan that are extensive (that is, the plan of the Adopting Employer as amended is no longer substantially similar to the Nonstandardized Plan of the Provider). To comply with the 403(b) Requirements, however, a plan must comply operationally with each relevant 403(b) Requirement, even if the requirement is not included on an Operational Compliance List. 2017-18 and Rev. (c) The Mass Submitter must initially submit the first page of the application form (or the entire Appendix A) as a placeholder with respect to each Provider that will offer a plan that is a Minor Modification of the Mass Submitters plan during the On-Cycle Submission Period. and accounting software suite that offers real-time 2021-3. ERISAEmployee Retirement Income Security Act. 2016-37, 2016-29 I.R.B. .10 Rev. In the case of an initial submission of a 403(b) Pre-approved Plan under this revenue procedure, the Mass Submitters application also must be accompanied by applications for an Opinion Letter filed on behalf of the requisite number of Providers that are offering the same plan on a word-for-word basis as provided in section 11.02, unless the Mass Submitter has already satisfied this requirement in connection with a previous application under this revenue procedure involving another 403(b) Pre-approved Plan. Supplemented is used in situations in which a list, such as a list of the names of countries, is published in a ruling and that list is expanded by adding further names in subsequent rulings. NOTIFICATION OF ADOPTING EMPLOYER REGARDING FAILURE OF THE FORM OF THE PLAN TO SATISFY 403(b) REQUIREMENTS, SECTION 18. Proc. (c) any plan not described in (a) or (b). Proc. 2017-41 provides for a single Opinion Letter program that combines and replaces the Master & Prototype (M&P) and Volume Submitter (VS) programs, under which M&P sponsors and VS practitioners, respectively, submitted their plans to the IRS for review. (Also Part I, 4941.). 3. Explore all For further information regarding this revenue procedure, contact Employee Plans at (513) 975-6319 (not a toll-free number). Join the our free mailing list to receive an update when 2024 rates are available. The period described in this section 4.02 is the period beginning on May 4, 2020, and ending on March 31, 2022. A transaction described in 410(b)(6)(C) is an asset or stock acquisition, merger, or other similar transaction involving a change in the employer of the employees of a trade or business. IRS updates per diem guidance for business travelers and their employers. Proc. 2017-41, 2017-29 I.R.B. While self-employed persons cannot use the high-low method, they may use other per diem rates to compute the amount of their business expense deduction for business meals and incidental expenses (but not lodging), or for incidental expenses alone. .01 Expiration of the limited extension of the Initial Remedial Amendment Period Provided that an initial amendment is timely made in accordance with section 13.03 of Rev. .01 Identical adopter An application for an Opinion Letter for a 403(b) Pre-approved Plan that is word-for-word identical to a Mass Submitter 403(b) Pre-approved Plan will not be treated as off-cycle, as defined in section 10.02, merely because it is submitted after the end of the applicable On-Cycle Submission Period for the Cycle. More for WASHINGTON The Internal Revenue Service today issued guidance for business A Flexible Plan may include only optional provisions that meet the requirements of section 11.03(1)(b), and must be drafted so that the satisfaction of the 403(b) Requirements of the form of any Providers plan will not be affected by the inclusion or deletion of optional provisions. .02 Interim amendment requirement A 403(b) Pre-approved Plan must be operated in accordance with its written plan document. An extension of the 30-day time limit will be granted only for good cause. 87-50, 1987-2 C.B. We establish the per diem rates for the continental United States (CONUS), which includes the 48 contiguous states and the District of Columbia. Section 4.01(3) of Rev. The Internal Revenue Service (IRS) separates expenses [9] According to these regulations, the first and last days of travel are paid 75% of the daily General Services Administration, PDTATAC, or DOS rate, while all .03 Section 15.04(1) of Rev. More information for businesses seeking coronavirus-related tax relief can be found at IRS.gov. Rates for foreign countries are set by the State Department. Failure to comply with these requirements may result in the loss of eligibility to offer 403(b) Pre-approved Plans and the revocation of an Opinion Letter that has been issued to the Provider. Specifically, to expedite the review of their plans, Providers are encouraged to use LRM language if appropriate and to identify the location of the LRM language in their 403(b) Pre-approved Plan. (5) In the case of multiple employers that are not part of the same controlled group (as determined under 414(b), (c), (m), or (o)) participating in the plan, each Adopting Employer must identify whether it is a Church, QCCO, non-QCCO, or minister. See section 22 of this revenue procedure regarding the deadline by which interim amendments must be adopted. 872, as modified by Rev. Find the answers to all your clients' questions about Social Security and Medicare in this essential Quickfinder handbook by Thomson Reuters Checkpoint. Proc. Standardized and Nonstandardized Plans may not be combined in one Single Document Plan. You may use the dropdown box below to select a country. The Provider must also inform each Adopting Employer that, notwithstanding the Providers discontinuance of its sponsorship, if the Adopting Employer adopts another 403(b) Pre-approved Plan, retroactive to the date of the discontinued sponsorship, by the end of the calendar year following the calendar year in which the Provider discontinues sponsorship of the plan, then the Adopting Employers plan will be treated as though it had continued to be a 403(b) Pre-approved Plan, and not converted to an individually designed plan (and the Adopting Employer will not be treated as having adopted the new 403(b) Pre-approved Plan after the end of an Employer Adoption Window, if applicable). Proc. An official website of the United States Government. 2016-37, 2016-29 I.R.B. Optional administrative provisions that a Provider may include in or delete from its version of the plan include the resignation or replacement of fiduciaries, the claims procedures under the plan, and the record-keeping requirements. .06 Vesting A 403(b) Pre-approved Plan may provide a vesting schedule for contributions other than elective deferrals, rather than provide for full and immediate vesting of the contributions. Section 2.13. 2020-49. .13 Section 5 of Rev. management, Document New Mileage Rate for 2022 Share This Print The new rate for business miles driven for travel taking place on or after July 1, 2022, is $0.625 per mile , an increase from $0.585 in January 2022. You can email us your suggestions or comments through the IRS Internet Home Page www.irs.gov) or write to the, Page Last Reviewed or Updated: 17-Sep-2021, Request for Taxpayer Identification Number (TIN) and Certification, Employers engaged in a trade or business who pay compensation, Electronic Federal Tax Payment System (EFTPS), Finding List of Current Actions on Previously Published Items1, We Welcome Comments About the Internal Revenue Bulletin, Treasury Inspector General for Tax Administration, October 1 December 31, March 1 April 30, and September 1 September 30, Los Angeles, Orange, Ventura, Edwards AFB less the city of Santa Monica, October 1 - October 31 and January 1 - September 30, October 1 October 31 and June 1 September 30, October 1 November 30 and April 1 September 30, October 1 March 31 and June 1 September 30, October 1 October 31 and April 1 September 30, Washington D.C. (also the cities of Alexandria, Falls Church, and Fairfax, and the counties of Arlington and Fairfax, in Virginia; and the counties of Montgomery and Prince George's in Maryland) (See also Maryland and Virginia), Bronx, Kings, New York, Queens, and Richmond, October 1 December 31 and March 1 September 30, October 1 November 30, March 1 June 30, and September 1 September 30, October 1 November 30 and March 1 September 30, Cities of Alexandria, Falls Church, and Fairfax; Counties of Arlington and Fairfax, SECTION 5. In this case, (1) the basic plan document must include provisions reflecting the 403(b) Requirements, including 1.403(b)-6, and 1.72(p)-1, and (2) the basic plan document and adoption agreement, as completed by the Adopting Employer, must provide that, to the extent permitted by the terms governing the applicable Investment Arrangement, participant loans are available. As an additional savings measure, GSAs lodging per diem rate methodology includes taking five percent off the final average daily rate in each location. Box 2508 Cincinnati, OH 45201-2508. If 4.a. See section 23 of Rev. .08 All 403(b) Pre-approved Plans are required to provide a definition of Employee. .05 Section 403(b) Pre-approved Plans treated as individually designed An Adopting Employers 403(b) Pre-approved Plan will be treated as individually designed (and the Adopting Employer may not rely on the plans Opinion Letter and will lose eligibility for the Cycle system) under the following circumstances: (1) An Adopting Employer makes any amendment to a Standardized Plan other than an amendment listed in section 9.03 or as otherwise described in this section 9.05. 575), and Rev. Proc. Audit & .02 Maintenance and availability of records of adopting employers A Provider must maintain, or have maintained on its behalf, for each of its plans, a record of the names, business addresses, and taxpayer identification numbers of all Adopting Employers. (Compare with modified, below). 3507) under control number 1545-0047. Generally, tax returns and tax return information are confidential, as required by 26 U.S.C. Proc. The IRS has announced the special per diem rates that can be used to substantiate the amount of business expenses incurred for travel away from home on or after October 1, 2021. See section 8.04. 2021-37. The Adopting Employer will have until the end of the Cycle 2 Employer Adoption Window to adopt a Cycle 2 Newly Approved 403(b) Pre-approved Plan that permits the participation of an employee described in 414(e)(3)(B) and that includes the nondiscrimination requirements that apply to any employee other than an employee of a QCCO or Church. 2013-22 establishes an Initial Remedial Amendment Period, which permits an Eligible Employer to retroactively correct defects in the form of its written 403(b) plan in order to satisfy the written plan requirement in the 403(b) regulations by timely adopting a 403(b) Pre-approved Plan or by otherwise timely amending its plan. Enter the number you have assigned to the adoption agreement for which this application is filed. This does not preclude the adoption of a 403(b) Pre-approved Plan (including a Standardized Plan) if different Investment Arrangements under a plan have different features or prevent the inclusion of additional provisions in the terms of the Investment Arrangements under the plan or other documents incorporated by reference. Further, if more than one governmental unit is required to hold a public hearing, the hearings may be combined as long as the combined hearing affords the residents of all of the participating governmental units a reasonable opportunity to be heard. Instead, the Provider should submit a restated plan, including the amendments, during the next On-Cycle Submission Period. Proc. 2019-39 provides that, except as otherwise provided by statute, or in regulations or other guidance published in the Internal Revenue Bulletin, and provided that an interim amendment (if applicable) is made timely and in good faith with the intent of complying with the 403(b) Requirements, the Remedial Amendment Period with respect to a 403(b) Pre-approved Plan Form Defect first occurring after the Initial Remedial Amendment Period will end no earlier than the end of Cycle 2 and that the IRS intends to issue guidance providing additional rules for determining the end of the Remedial Amendment Period. In order for a plan to remain a 403(b) Pre-approved Plan, an Adopting Employer of the plan must adopt, by the end of the Employer Adoption Window for each Cycle, either the newly approved version of the same plan or a newly approved version of a different 403(b) Pre-approved Plan. Failure to comply with these requirements may result in the loss of eligibility to offer 403(b) Pre-approved Plans and the revocation of Opinion Letters that have been issued to the Provider. (2) The terms of the plan must satisfy the separate accounting, investment performance, and exclusive benefit requirements of 1.403(b)-9(a)(2)(i). Proc. An Opinion Letter issued to a Provider is not transferable. For more information on FY 2021 travel per diem rates, please visit www.gsa.gov/perdiem. Provided that Employer X adopts timely interim amendments, Employer Xs plan will remain eligible for the Cycle through the end of Cycle 3. Page Last Reviewed or Updated: 07-Oct-2022, Request for Taxpayer Identification Number (TIN) and Certification, Employers engaged in a trade or business who pay compensation, Electronic Federal Tax Payment System (EFTPS), Publication 463, Travel, Entertainment, Gift, and Car Expenses, Small Business, Self-Employed, Other Business, Treasury Inspector General for Tax Administration, Per diem rates for areas outside the continental United States (. If, after the 30-day period, neither action has been taken, the IRS may treat the application as having been withdrawn. General guidance issued in 2019 regarding the use of per diems after the Tax Cuts and Jobs Act remains in effect (see our Checkpointarticle). The application must be sent to the address provided in section 20. 2017-41 for administrative procedures for seeking an opinion letter for 401, 403(a), or 4975(e)(7) plans). 2017-18, 2017-5 I.R.B. Proc. Such an application may be filed at the time of the assumption of plan sponsorship by the new Provider, and the filing is not limited to the applicable On-Cycle Submission Period. .23 Related Employers For a plan that is not a Governmental Plan, Related Employers means all employers that are aggregated with the Adopting Employer under 414(b) and (c) (each as modified by 415(h)), (m), and (o) and the regulations thereunder. Proc. The plan submitted for a Form 5307 determination letter will be reviewed based on the Cumulative List applicable to the underlying 403(b) Pre-approved Plan. Qualified Church-Controlled Organization, _____c. An Adopting Employer of a Nonstandardized Plan that includes 401(m) matching contributions may rely on the plans Opinion Letter with respect to whether the form of the plan satisfies the ACP test of 401(m)(2) if the Adopting Employer elects to use a safe harbor definition of compensation in the test. To pay a fee, a Provider must continue to submit a paper check and a paper Form 8717-A, User Fee for Employee Plan Opinion or Advisory Letter Request. checked): Under penalties of perjury, I declare that the Provider identified in line 2 of this application has adopted a Pre-approved Plan that is identical to the Mass Submitter plan identified in line 8, or is a minor modifier adopter of the Mass Submitter plan identified in line 8. .04 Obtaining a determination letter An Adopting Employer of a Nonstandardized Plan that makes amendments to the plan that are not extensive may obtain reliance that the form of the plan, as amended, satisfies the 403(b) Requirements by requesting a determination letter using Form 5307 (as updated) under procedures similar to the procedures applicable to 401(a) pre-approved plans, and may do so regardless of whether a prior determination letter has been issued with respect to the plan. (d) in the case of a provision that is integral to a 403(b) Requirement that has been changed, the date the plan is first operated in accordance with the provision, as amended. 157 (as updated annually), sets forth the general procedures of the IRS regarding the issuance of Employee Plans determination letters, including determination letters for 401(a) pre-approved plans. .29 Single Document Plan See section 4.27(2). FICAFederal Insurance Contributions Act. Proc. 654. .30 Standardized Plan A Standardized Plan is a 403(b) Pre-approved Plan that meets the requirements set forth in section 5.18.
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