(2) Notwithstanding the other provisions of this section 8, an Opinion Letter issued for a Standardized Plan may not be relied upon with respect to the requirements of 415 if the Adopting Employer or any of its Related Employers maintains another 403(b) plan covering any of the same participants as the Standardized Plan, unless the other plan is also a Standardized Plan. Identical adopter of Mass Submitter plan, _____d. Thus, for example, a Governmental Plan, a plan of a Church or QCCO, and a plan of a non-QCCO that use separate adoption agreements may be associated with the same basic plan document. Generally, a space should be provided in the plan with instructions for the Adopting Employer to add language as necessary to satisfy 415. Proc. The principal author of this notice is James Liechty of the Office of Associate Chief Counsel (Income Tax & Accounting). Pursuant to section 5.08, the Provider will no longer have the authority to amend the plan on behalf of the Adopting Employer. .07 Section 21.03 of Rev. Proc. (1) For each Cycle, the IRS intends to publish a Cumulative List for 403(b) Pre-approved Plans shortly before the start of the Cycles On-Cycle Submission Period. The two types of 403(b) Pre-approved Plans are Standardized Plans and Nonstandardized Plans. If the new ruling does more than restate the substance of a prior ruling, a combination of terms is used. 727; and Rev. 2016-37. Proc. 3. 2016-37, 2016-29 I.R.B. Proc. 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. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the collection of information displays a valid OMB control number. 1121, during which certain telephonic hearings are permitted. The Provider must then notify each Adopting Employer of the revocation as soon as possible. 2021-30 (or its successor), for correcting a Form Defect after the expiration of the Remedial Amendment Period for the Form Defect. 2013-22 continue to apply to opinion and advisory letter applications for 403(b) Pre-approved Plans submitted for Cycle 1. For example, an Adopting Employers Adoption Agreement Plan may offer both Investment Arrangements that permit loans and Investment Arrangements that do not permit loans. Proc. .01 Final regulations under 403(b) were published on July 26, 2007 (T.D. 5 For purposes of this revenue procedure, references to Rev. In addition, last years guidance has been revised to characterize one location as high-cost for more of December 2020. In the case of a plan maintained by more than one employer, the remedial amendment period ends on the last day of the tenth month following the last day of the plan year in which the remedial amendment period begins. This revenue procedure also sets forth the rules for determining when Remedial Amendment Periods expire for 403(b) Pre-approved Plans. The Provider may be required by the IRS to immediately notify all Adopting Employers of any of its 403(b) Pre-approved Plans affected by the failure if the Adopting Employers reliance on the Opinion Letter is affected or if the failure could result in adverse tax consequences for the Adopting Employer. 2016-37 is deleted. 2016-37 sets forth a system of recurring remedial amendment cycles for qualified pre-approved plans, and sets forth plan amendment deadlines for interim and discretionary amendments made to these plans. For travel to any other areas within the United States, the FY 2021 general per diem rates are used. The estimated total annual reporting and/or recordkeeping burden is 29,149 hours. .07 Existing 403(b) Pre-approved Plan See section 4.27(3)(c). or 4.d. The Service is currently reviewing its prior ruling position on transactions described in section 3 of this revenue procedure. Rates are available between 10/1/2012 and 09/30/2023. The Mass Submitter must submit on behalf of each Provider a completed application form (or Appendix A) that includes a declaration by the Mass Submitter under penalties of perjury that the Provider will offer a plan that is word-for-word identical to a plan of the Mass Submitter, or a plan that is a Minor Modification of the Mass Submitters plan. b. The Provider must also notify an Adopting Employer that failure to timely adopt the plan or restatement, when required, or failure to take into account plan amendments in the operation of the plan, could result in adverse tax consequences. In the case of a plan maintained by one employer, the remedial amendment period ends on the later of: (1) the due date (including extensions) for filing the income tax return for the employers taxable year that includes the date on which the remedial amendment period begins; or (2) the last day of the plan year that includes the date on which the remedial amendment period begins. 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. Proc. .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. See section 4.26. 647, as modified by Rev. 2021-3 is amplified. Proc. 2021-4 (updated annually) and a signed certification that all necessary amendments required by the IRS for the form of the Providers plan to continue to satisfy the 403(b) Requirements have been made and communicated to all Adopting Employers. A plan will not fail to satisfy the requirements of this section 5.18(2) with respect to contributions other than elective deferrals merely because the plan provides, either as the result of an elective provision or by default in the absence of an election to the contrary, that individuals who become employees, within the meaning of section 5.13, as a result of a transaction described in 410(b)(6)(C) are excluded from eligibility to participate in the plan during the period beginning on the date of the transaction and ending on a date that is not later than the earlier of the last day of the first plan year beginning after the date of the transaction or the date of a significant change in the plan or in the coverage of the plan. See sections 8.01 and 8.02 for the effect of any other amendments on reliance on an Opinion Letter by the Adopting Employer. governments, Explore our Proc. Rulings and procedures reported in the Bulletin do not have the force and effect of Treasury Department Regulations, but they may be used as precedents. .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. 172 (or its successor). .02 The prototype and volume submitter programs are combined and replaced by a single Opinion Letter program that provides for two types of plans: Standardized Plans and Nonstandardized Plans. A per diem rate can be used for the combined costs of Lodging and M&IE. The estimated annual burden per respondent/recordkeeper varies from 1/2 to 2,000 hours, depending on individual circumstances, with an estimated average of 3.56 hours. Connect with other professionals in a trusted, secure, Proc. .09 Material furnished to Adopting Employers A Provider must furnish each Adopting Employer with a copy of the approved 403(b) Pre-approved Plan, copies of any subsequent amendments, and the most recently issued Opinion Letter for the plan from the IRS. November 17, 2021 2021-2104 IRS clarifies that temporary 100% deduction for restaurant meals applies to meal portion of per diem payments In Notice 2021-63, the IRS clarified that the temporary 100% deduction for 2021 and 2022 for food or beverages provided by a restaurant applies to the meal portion of per diem payments. .02 Delivery service An application shipped by Express Mail or a delivery service should be sent to the attention of the Pre-Approved Plans Coordinator, to: Internal Revenue Service 550 Main Street Room 6-403, Group 7521 Cincinnati, OH 45202. .04 This revenue procedure extends the plan amendment deadline for making interim amendments with respect to a change in 403(b) Requirements, for most plans, until the end of the second calendar year following the calendar year in which the change in 403(b) Requirements is effective with respect to the plan. .04 Section 15.06(1)(a) of Rev. 2021-4 (as updated annually). 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. For purposes of determining whether 15 unaffiliated Providers offer, on a word-for-word basis, the same 403(b) Pre-approved Plan, a Mass Submitter that is also a Provider is treated as an unaffiliated Provider. 2016-37, which is applicable to a governmental plan within the meaning of 414(d), and which is determined by reference to the interim amendment deadline for a plan that is not a governmental plan, is modified. Proc. Proc. Proc. 295, and Notice 2020-35, sets forth the procedures of the IRS for issuing opinion letters regarding the qualification in form of 401(a) pre-approved plans. See section 11 for rules relating to Mass Submitter plans, including procedures for identical adopters and minor modifier adopters of Mass Submitter plans. (6) All benefits, rights, and features under the plan (other than those, if any, that have been prospectively eliminated) are currently available to all employees benefiting under the plan. (6) Pursuant to section 10.10, a Providers failure to disclose a material fact, misrepresentation of a material fact, or failure to accurately provide any of the information called for on any form required by this revenue procedure (or in Appendix A, if used) may result in the inability of Adopting Employers to rely on an Opinion Letter (for example, if there is a failure to disclose a material fact, the IRS may revoke the Opinion Letter due to the failure). As provided in section 11.01 of Rev. policy, Privacy (4) By submitting an application for an Opinion Letter for a 403(b) Pre-approved Plan under this revenue procedure (or by having an application filed on its behalf by a Mass Submitter), a person represents to the IRS that it is a Provider, and that it agrees to comply with any requirements imposed on Providers by this revenue procedure. OPINION LETTER APPLICATIONS INSTRUCTIONS TO PROVIDERS AND OTHER RULES FOR APPLICATIONS AND OPINION LETTERS, SECTION 11. IRS updates per diem guidance for business travelers and their employers. Proc. 82-102, 1982-1 C.B. For further information regarding this revenue procedure, contact Ms. Som de Cerff or Mr. White on (202) 317-6980 (not a toll-free number). See section 5.02 of Rev. .03 Church A Church is a church within the meaning of 3121(w)(3)(A). Part II.Treaties and Tax Legislation. (3) Notwithstanding the preceding provisions of this section 4.21, any person that has an established place of business in the United States where it is accessible during every business day may be a Provider that offers a plan that is word-for-word identical to a plan of a Mass Submitter (as an identical adopter) or a plan that includes Minor Modifications to a plan of a Mass Submitter (as a minor modifier adopter) regardless of the number of Eligible Employers that are expected to adopt the plan. See section 25. .02 Nonapplicability of this revenue procedure to 401, 403(a), or 4975(e)(7) plans and to IRAs (including traditional IRAs, Roth IRAs, SEPs, and SIMPLE IRAs) An Opinion Letter will not be issued under this revenue procedure for 401, 403(a), or 4975(e)(7) plans (see Rev. Proc. Proc. This term is most commonly used in a ruling that lists previously published rulings that are obsoleted because of changes in laws or regulations. 1 A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 202127 through 202152 is in Internal Revenue Bulletin 202152, dated December 27, 2021. The IRS will also consider in its review of any Opinion Letter application all 403(b) Requirements that are not described in section 13.02(3), and not solely those on the applicable Cumulative List.9 For example, if a Provider submits an application for a Cycle 2 Opinion Letter for a new plan that did not receive a Cycle 1 Opinion Letter, the IRS will review the plan taking into account the Cumulative List for Cycle 2, as well as the 403(b) Requirements that were reviewed during Cycle 1. .09 Rev. WASHINGTON The Internal Revenue Service today issued Notice 2021-63PDF to make clear how the temporary 100% business deduction for food or beverages from restaurants applies to taxpayers properly applying the rules of Revenue Procedure 2019-48PDF for using per diem rates. The Service will not issue rulings on whether an act of self-dealing occurs when a private foundation (or other entity subject to 4941) owns or receives an interest in a limited liability company or other entity that owns a promissory note issued by a disqualified person. 136, as modified by Rev. Proc. See section 8.04 for situations in which an Adopting Employer may obtain a determination letter using Form 5307 (as updated). See EPCRS, Rev. Bank Secrecy Act Administrative Rulings are issued by the Department of the Treasurys Office of the Assistant Secretary (Enforcement). For example, if a plan document for a Mass Submitter Flexible Plan includes an optional provision that would permit loans under a Providers plan, the adoption agreement may also include an optional provision that would enable an Adopting Employer to elect whether loans will be available under the plan it adopts. 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 written notification must be sent to the address provided in section 20 and must refer to the file folder number appearing on the latest Opinion Letter issued. 2016-37 provides that, for a governmental plan within the meaning of 414(d), the adoption deadline for an interim amendment is: the later of (1) the deadline that would apply under the rules of section 15.04(1), or (2) 90 days after the close of the third regular legislative session of the legislative body with authority to amend the plan that begins on or after the date the amendment becomes effective. .02 Additional provisions Section 5.18 sets forth additional provisions required for all Standardized Plans. Can an ERISA Plan Limit the Time a Claimant Has to File a Lawsuit for Plan Benefits? Notice 2021-63 therefore provides a special rule: Solely for purposes of Sec. 2017-41, 2017-29 I.R.B. 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. Proc. 2019-48 (or successor). (See the Form 5305 series, which provides model IRA documents that have been pre-approved by the IRS and for which an opinion letter is not needed. .06 This revenue procedure provides rules for permitting the participation of employees of certain church-related organizations, as described in 414(e)(3)(B), in a 403(b) Pre-approved Plan that is intended to be a Retirement Income Account, including special rules for amending a Cycle 1 403(b) Pre-approved Plan that is intended to be a Retirement Income Account to permit the participation of employees of certain church-related organizations, as described in 414(e)(3)(B) retroactive to the beginning of Cycle 2. In addition, if an employer adds language to a 403(b) Pre-approved Plan to satisfy the requirements of 415 due to the required aggregation of plans, the employer may obtain reliance with regard to 415 by applying for a determination letter on Form 5307 (as updated). For example, modified and superseded describes a situation where the substance of a previously published ruling is being changed in part and is continued without change in part and it is desired to restate the valid portion of the previously published ruling in a new ruling that is self contained. For purposes of computing the amount allowable as a deduction for travel away from home, this notice is effective for meal and incidental expenses or for incidental expenses only paid or incurred on or after October 1, 2021. Enter the number you have assigned to the basic plan document associated with the adoption agreement, or for the Single Document Plan if applicable, for which this application is filed. A Provider may include or delete optional provisions of a Mass Submitter plan, but once the Provider has decided to include an optional provision, it must offer that provision to all Adopting Employers. The IRSs review will not consider, and an Opinion Letter will not express an opinion with respect to, the terms of any Investment Arrangements under the plan of any Adopting Employer or any other documents that may be incorporated by reference into an Adopting Employers plan. Nor does it prevent a 403(b) Pre-approved Plan from using Investment Arrangements that are more restrictive than required by 403(b) or the single plan document or the basic plan document and adoption agreement. Territories and Possessions are set by the Department of Defense. (4) a certification made under penalties of perjury by the plan drafter that the information described in paragraph (3) of this section 10.05 is true and complete. Revoked describes situations where the position in the previously published ruling is not correct and the correct position is being stated in a new ruling. .18 Nonstandardized Plan A Nonstandardized Plan is a 403(b) Pre-approved Plan that is not a Standardized Plan. A Mass Submitter is treated as a Mass Submitter with respect to all of its plans, provided the 15 unaffiliated Provider requirement is met with respect to at least one plan. 2016-37 is redesignated as section 15.06(1). 3507) under control number 1545-0047. (2) The IRS reserves the right at any time to request from a Provider a list of the Eligible Employers that have adopted or are expected to adopt the Providers plans, including the employers business addresses and employer identification numbers. Section 4.01(3) of Rev. .10 Rev. 2020-21 is extended. In the case of a change in entity with respect to a Provider, an Opinion Letter issued to the Provider may not be utilized by the changed entity. 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