IRS Extends Application Deadline for Opinion, Advisory Letters

This announcement extends to June 30, 2015, the deadline for submitting on-cycle applications for opinion and advisory letters for pre-approved defined benefit plans for the plans' second six-year remedial amendment cycle. This announcement also provides a two day extension (from Saturday, January 31, 2015, to Monday, February 2, 2015) for Cycle D on-cycle submissions (primarily individually designed plans including multiemployer plans).

PRE-APPROVED PLAN EXTENSION

The extension to June 30, 2015, applies to pre-approved defined benefit mass submitter lead and specimen plans, word-for-word identical plans, master and prototype minor modifier placeholder applications, and defined benefit non-mass submitter lead and specimen plans. Under Rev. Proc. 2007-44, 2007-2 C.B. 54, and Rev. Proc. 2011-49, 2011-44 I.R.B. 608, as modified by Announcement 2014-4, 2014-7 I.R.B. 523, the submission period for these applications is scheduled to expire on February 2, 2015. This extension applies to all on-cycle pre-approved defined benefit plan submissions.

In general, plans submitted in accordance with this extension will continue to be reviewed for qualification items based on the 2012 Cumulative List (Notice 2012-76, 2012-52 I.R.B. 775).

PREAPPROVED PROGRAM EXPANSION

The IRS expects to modify Rev. Proc. 2011-49 to expand the preapproved program to include defined benefit plans containing cash balance features and defined contribution plans containing employee stock ownership plan (ESOP) features. In addition, the IRS is developing tools, which will be available before June 30, 2015, to assist plan sponsors in drafting these plans.

CYCLE D EXTENSION

The extension from January 31, 2015, to February 2, 2015, applies to Cycle D filers reviewed for qualification items based on the 2013 Cumulative List (Notice 2013-84, 2013-52 I.R.B. 822).

EFFECT ON OTHER DOCUMENTS

Rev. Proc. 2007-44, Rev. Proc. 2011-49, and Announcement 2014-4 are modified.

DRAFTING INFORMATION

The principal author of this announcement is Donald J. Kieffer of the Employee Plans, Tax Exempt and Government Entities Division. For further information regarding this announcement, please call the Employee Plans taxpayer assistance answering service at (877) 829-5500 (a toll-free number) or e-mail Mr. Kieffer at retirementplanquestions@irs.gov.