.03 This revenue procedure provides that the On-Cycle Submission Period for Cycle 2 applications will begin on May 2, 2022, and end on May 1, 2023. .04 Amendments of Mass Submitter plans If a Mass Submitter amends one of its 403(b) Pre-approved Plans, the Mass Submitter must provide copies of the amendment to Providers that have adopted the plan. 1. 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. .18 Nonstandardized Plan A Nonstandardized Plan is a 403(b) Pre-approved Plan that is not a Standardized Plan. .05 This revenue procedure sets forth the date on which the limited extension of the Initial Remedial Amendment Period described in section 4.113 expires and extends the deadline for adopting an initial amendment (if applicable) that is required under certain circumstances in order for the limited extension of the Initial Remedial Amendment Period to apply. Comments may be submitted in one of two ways: (1) Electronically via the Federal eRulemaking Portal at www.regulations.gov (type IRS-2021-0011 in the search field on the regulations.gov homepage to find this revenue procedure and submit comments). To the extent practicable, pertinent cross references to these subjects are contained in the other Parts and Subparts. See also Rev. Proc. 2016-37 is redesignated as section 15.06(2). (1) In general, provided that the provisions of a basic plan document are identical for all plans using that document, separate adoption agreements may be associated with the same basic plan document. If there nevertheless is a conflict, the terms of the single plan document or the basic plan document and adoption agreement, as applicable, must control. If the plan provides for contributions other than elective deferrals and the Adopting Employers controlled group includes any employer that is not an Eligible Employer, the Adopting Employer may rely on the Opinion Letter, except with respect to whether contributions other than elective deferrals under the plan satisfy the requirements of 401(a)(4) and 410(b). 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. 2014 - 2023 FederalPay.org. 2017-18 provides that the last day of the Initial Remedial Amendment Period is March 31, 2020. .09 Adopting Employer modification to satisfy 415 Each 403(b) Pre-approved Plan must provide that plan provisions may be amended by the Adopting Employer to the extent necessary to satisfy 415 because of the required aggregation of multiple plans under that section. Proc. .14 Mass Submitter A Mass Submitter is any person that: (1) has an established place of business in the United States where it is accessible during every business day, and (2) submits Opinion Letter applications on behalf of at least 15 unaffiliated Providers, each of which is offering, on a word-for-word identical basis, the same plan. For information as to where to access per diem rates for various types of Government travel, please consult the table in 301-11.6. Per diem (Latin for "per day" or "for each day") or daily allowance is a specific amount of money that an organization gives an individual, typically an employee, per day to cover living (2) Section 403(b) Pre-approved Plans that are intended to be Retirement Income Accounts and plans that are not Retirement Income Accounts may not be set forth in the same basic plan document. Phone: (803) 734-2121 2017-41, 2017-29 I.R.B. 2017-18 and Rev. 140, which sets forth areas of the Internal Revenue Code (Code) relating to issues on which the Internal Revenue Service (Service) will not issue letter rulings or determination letters. Indicate whether the plan is a (check one): a. Instead, the Mass Submitter should submit a restated plan, including the amendments, during the next Cycle. The meal portion is based on the average costs of three daily meals at dining establishments typically used by federal employees in that location. 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. Dollars DSSR 925 All Locations Publication Date: 01/01/2023 Rev. .13 The expiration date of the limited extension of the Initial Remedial Amendment Period for certain Form Defects is provided. Taxpayers using the rates and list of high-cost localities provided in this notice must comply with Rev. However, the IRS may, in its discretion, determine whether the processing of off-cycle filings may be prioritized and accelerated. brands, Social 2019-39 provides that an Eligible Employer adopting a 403(b) Pre-approved Plan generally must adopt an interim amendment with respect to a change in 403(b) Requirements. Unless otherwise provided by this revenue procedure, upon an Eligible Employers adoption of a 403(b) Pre-approved Plan, the plan becomes eligible for the Cycle system. Proc. The location of any combined hearing is presumed convenient for residents of each participating governmental unit if it is no farther than 100 miles from the seat of government of each participating governmental unit beyond whose geographic jurisdiction the hearing is conducted. For this purpose, a plan is a written defined contribution plan that, in both form and operation, satisfies the requirements of the final regulations under 403(b).4. This revenue procedure applies to all ruling requests pending in or received by the Service on or after September 3, 2021. .30 Standardized Plan A Standardized Plan is a 403(b) Pre-approved Plan that meets the requirements set forth in section 5.18. The principal author of this notice is James Liechty of the Office of Associate Chief Counsel (Income Tax & Accounting). 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. Employers can use the high-low method for substantiating lodging, meals, and incidental expenses, or for substantiating meal and incidental expenses only (M&IE). The updated LRMs, when available, may be downloaded from the Internet at http://www.irs.gov/Retirement-Plans/Listing-of-Required-Modifications-LRMs. or 4.b., checked): Under penalties of perjury, I declare that I have examined this application, including accompanying statements, and to the best of my knowledge and belief it is true, correct, and complete. Proc. .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. ): 7. b. Any Provider that does not wish to make the amendments made by a Mass Submitter may switch to another Mass Submitter or may submit an application for an Opinion Letter on its own behalf during the next applicable On-Cycle Submission Period for 403(b) Pre-approved Plans. 2021-4 (updated annually), (2) if an Opinion Letter had been issued for the 403(b) Pre-approved Plan for the preceding Cycle, 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, and (3) any attachment or other document that the application form (or Appendix A, if used) indicates is required. (2) Expiration of Remedial Amendment Period Unless otherwise specified in guidance published in the Internal Revenue Bulletin, the expiration date for a Remedial Amendment Period for a Form Defect first occurring after the Initial Remedial Amendment Period is described in this section 2.13(2). Pursuant to section 21.02 of Rev. The application must be accompanied by the required user fee that will be provided in the successors to Rev. An Adopting Employer of a Nonstandardized Plan that meets the safe harbor requirements described in 401(m)(11) or 401(m)(12) may rely on the plans Opinion Letter with respect to whether the form of the Adopting Employers plan satisfies the requirements of 401(m), unless the Adopting Employers plan provides for the safe harbor contributions under 401(m)(11) or 401(m)(12) to be made under another plan. This part is divided into two subparts as follows: Subpart A, Tax Conventions and Other Related Items, and Subpart B, Legislation and Related Committee Reports. (4) An Adopting Employer may not rely on an Opinion Letter if any Investment Arrangement under the plan or any other document that may be incorporated by reference provides that the terms of the Investment Arrangement or other document shall govern in the event of any conflict between the terms of the Investment Arrangement or other document and the terms of the plan. accounting, Firm & workflow This information is required to enable the Commissioner, Tax Exempt and Government Entities Division of the Internal Revenue Service, to make determinations in connection with compliance with the 403(b) Requirements. This revenue procedure applies to disqualifying provisions that are effective with respect to a plan after December 31, 2020. (4) the absence from a plan of a provision required by a change to the 403(b) Requirements (either by statute, or in regulations or other guidance published in the Internal Revenue Bulletin) or integral to the change. Section 403(b) Pre-approved Plan adoption agreement number (Each different adoption agreement associated with a single basic plan document must be assigned a 3-digit number, beginning with 001. Any law firm, accounting firm, consulting firm, or similar organization, will be considered to be affiliated with its partners, members, associates, or similar affiliated persons. Proc. Proc. Thomson Reuters/Tax & Accounting. Proc. The collections of information in this revenue procedure are in sections 5.11, 9.01, 9.02, 10.03, 11, and 19. If the Provider is offering a word-for-word identical plan (including a Flexible Plan) a copy of the plan need not be submitted. Provided an interim amendment (as described in section 9.02 of this revenue procedure) is made timely, except as otherwise provided by statute, regulations, or other guidance published in the Internal Revenue Bulletin, the Remedial Amendment Period for a Form Defect first occurring after the Initial Remedial Amendment Period, expires at the later of (1) the end of the Cycle that includes the date on which the Remedial Amendment Period would have ended if the plan were an individually designed plan, or (2) the end of the first Cycle in which an application for an Opinion Letter that considers the Form Defect may be submitted. The notice includes (1) the special transportation industry meal and incidental expenses rates, (2) the rate for the incidental expenses only deduction, and (3) the rates and list of high-cost localities for the high-low substantiation method. Period is March 31, 2020 and accelerated restated Plan, including the amendments, during the next.! 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