.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. .06 Example Employer X adopts a newly approved Standardized Plan during the Cycle 2 Employer Adoption Window. 2019-39 provide that the period covered by the Initial Remedial Amendment Period is referred to as Cycle 1 and that Cycle 2 begins after the Initial Remedial Amendment Period expires. A Flexible Plan adopted by a Provider that differs from the Mass Submitter plan only because the Provider has deleted certain optional provisions from its plan in conformance with the Mass Submitters representation described in this paragraph will be treated as a word-for-word identical plan to the Mass Submitter plan. For further information regarding this notice contact James Liechty at (202) 317-7005 (not a toll-free number). However, the rates vary depending on location. Use the rate for the area where your employee spends the night. _____c. .08 Provider amendments Each 403(b) Pre-approved Plan must include a procedure for amendments by the Provider, so that changes in the Code, regulations, or other guidance published in the Internal Revenue Bulletin, and any correction of the plan, may be applied to all Adopting Employers. 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. See also Rev. .01 In general A Cycle 1 403(b) Pre-approved Plan that is intended to be a Retirement Income Account may be amended by a Provider, a Mass Submitter, or an Adopting Employer to permit the participation of an employee described in 414(e)(3)(B), retroactive to the beginning of Cycle 2, July 1, 2020. Proc. Proc. 743,5 sets forth the procedures of the IRS for issuing opinion and advisory letters for 403(b) Pre-approved Plans for Cycle 1, which began on the later of January 1, 2010, or the effective date of the plan, and that, ended on June 30, 2020. .03 The heading of section 15.06(1) of Rev. EMPLOYER RELIANCE ON OPINION LETTER, SECTION 10. c. The following locality has been removed from the list of high-cost localities: Gulf Breeze, Florida. EXPIRATION OF LIMITED EXTENSION OF INITIAL REMEDIAL AMENDMENT PERIOD FOR CYCLE 1 403(b) PRE-APPROVED PLANS; EXTENSION OF DEADLINE FOR INITIAL AMENDMENT, SECTION 25. While the IRSs review of an application for an Opinion Letter is limited to the terms of the single plan document or the basic plan document and adoption agreement, as applicable, the terms of Investment Arrangements and other documents that are incorporated by reference in the plan must satisfy applicable law and may not have any provisions that are inconsistent with 403(b). .10 Effect of failure to disclose material fact or to accurately provide information A failure to disclose to the IRS a material fact, a misrepresentation of a material fact in the application, or the failure to accurately provide any of the information called for on any form or Appendix A required by this revenue procedure may result in the inability of Adopting Employers to rely on the 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). For purposes of this revenue procedure, an opinion letter for a prototype plan or an advisory letter for a volume submitter plan issued pursuant to Rev. See section 5.13. A Single Document Plan may accommodate usage by more than one type of Eligible Employer; however, a Retirement Income Account plan must always be filed as a separate Single Document Plan. Proc. The End Date of your trip can not occur before the Start Date. Proc. 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. .18 Nonstandardized Plan A Nonstandardized Plan is a 403(b) Pre-approved Plan that is not a Standardized Plan. technology solutions for global tax compliance and decision As of January 2021, the per diem allowance is $66 per day in the continental United States. Proc. Foreign Per Diem Rates by Location DSSR 925. Distinguished describes a situation where a ruling mentions a previously published ruling and points out an essential difference between them. A ruling may also be obsoleted because the substance has been included in regulations subsequently adopted. The application must be accompanied by the required user fee that will be provided in the successors to Rev. The amount of the $296 high rate and $202 low rate that is treated as paid for meals for purposes of 274(n) is $74 for travel to any high-cost locality and $64 for travel to any other locality within CONUS. See section 10.11. Any optional provision that the IRS determines does not meet the requirements of this section 11.03(1)(b) must be changed to a non-optional provision or deleted from the Mass Submitters plan. Box 7604, Ben Franklin Station, Washington, D.C. 20044. The period described in section 4.02 of Rev. .05 Expediting review of substantially identical plans The IRS reserves the right to review applications in any order that will expedite the processing of Opinion Letter applications, subject to section 12 regarding off-cycle filing. 1. This Remedial Amendment Period applies regardless of whether the Form Defect relates to a new plan or is due to an amendment (without regard to whether that amendment was required to be adopted) provided that the plan or amendment was adopted timely and in good faith with the intent of complying with the 403(b) Requirements. Part II.Treaties and Tax Legislation. 698; Rev. Section 16.01 of Rev. .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. For a 403(b) Pre-approved Plan that is a Governmental Plan, an Opinion Letter does not express an opinion, and may not be relied upon, with respect to whether the plan meets any requirements that apply due to a plans coverage of multiple employers that are not aggregated in a single controlled group in a manner consistent with Notice 89-23. 2017-18, as modified by Notice 2020-35, expired on June 30, 2020. 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. Your online resource to get answers to your product and 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. Per-diems are fixed amounts to be used for lodging, meals, and incidental expenses when traveling on official business. Per Diem Rates Maximum travel per diem rates for current and prior years for the continental United States are available at the General Service Administration (GSA) Website: Per Diem Rates Any area that is not specifically listed is assigned the standard CONUS (Continental United States) per diem rate. WASHINGTON The Internal Revenue Service today issued guidance for business 2019-39 to expand the situations in which the plan amendment deadline for discretionary amendments made to a 403(b) Pre-approved Plan may be extended. Please note the meal and incidental rates are inclusive of GST. 2016-37, 2016-29 I.R.B. .01 Section 403(b) plan that is not a Governmental Plan For a 403(b) Pre-approved Plan that is not a Governmental Plan, a Provider (or the Adopting Employer, if applicable) is considered to have adopted an interim amendment described in section 9.02 timely if the amendment is adopted by 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. 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. .02 Reduced procedural requirements for Providers that use Mass Submitter plans A Provider of a plan of a Mass Submitter must obtain an Opinion Letter. (2) A 403(b) Pre-approved Plan may be structured as an Adoption Agreement Plan or as a Single Document Plan. An Adoption Agreement Plan consists of a basic plan document and an adoption agreement. In response to these concerns, Rev. .08 Section 21.05 of Rev. This revenue procedure applies to disqualifying provisions that are effective with respect to a plan after December 31, 2020. 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. 82-102, 1982-1 C.B. 369. Proc. 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. .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. Proc. Annual high-low rates. Rev. 2015-22 modifies Rev. 3507) under control number 1545-0047. (c) any plan not described in (a) or (b). Employers can use the high-low method for substantiating lodging, meals, and incidental expenses, or for substantiating meal and incidental expenses only (M&IE). Proc. If a letter requesting changes to the 403(b) Pre-approved Plan is sent to the Provider or an authorized representative, changes responsive to the letter must be received no later than 30 days from the date of the letter, and the response must include either a copy of the plan with the changes highlighted or, if the changes are not numerous, replacement pages. Similarly, a later deadline is provided for a 403(b) Pre-approved Plan that is a Governmental Plan. Proc. 157 (as updated annually). However, the plan as adopted by a Provider must describe how the plan will be administered. Entering the first letter of the country name will jump to that portion of the listing. Proc. However, if, instead, Employer X decides to continue to be an individually designed plan, then, by the end of Cycle 3, Employer Xs plan must be amended to reflect all changes in 403(b) Requirements for which the Remedial Amendment Period applicable to individually designed plans will have expired;8 moreover, after Cycle 3, Employer Xs plan is subject to the Remedial Amendment Period rules for individually designed plans. In addition, the adoption agreement must include a cautionary statement to the effect that the failure to properly complete the adoption agreement may result in failure of the form of the plan to meet the 403(b) Requirements. The Adopting Employer must sign and date the adoption agreement or signature page of the plan when it first adopts the plan and must complete, sign, and date a new adoption agreement or signature page if the plan has been restated. See section 4.26. 2016-37 to extend the deadline for adopting an interim amendment for a 401(a) pre-approved plan to match the deadline for adopting an interim amendment for a 403(b) pre-approved plan, which is set forth in Rev. In the event the plan is treated as a non-Mass Submitter plan, the IRS will notify the Mass Submitter in writing of its determination. Section 1.403(b)-3(b)(3)(i) generally provides that a contract does not satisfy the requirements of 1.403(b)-3(a) (regarding exclusion of contributions from gross income) unless it is maintained pursuant to a plan. Proc. 2017-41, as modified by Rev. 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. FY 2023 Per Diem Highlights. Proc. .19 Section 13 of Rev. (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. 2014-28 modifies Rev. (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). Revocation may be effected by a notice to the Provider to which the Opinion Letter was originally issued. 1. This revenue procedure modifies Rev. 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). (Compare with modified, below). For example, if a change in 403(b) Requirements occurs in the 1st year of Cycle 3, and is placed on the Required Amendments List in the 2nd year of Cycle 3, then the Remedial Amendment Period for a Form Defect related to that change would expire at the end of the 4th year of Cycle 3. See section 8.03(4) for the effect on reliance in the event of a conflict. The last Bulletin for each month includes a cumulative index for the matters published during the preceding months. After the original ruling has been supplemented several times, a new ruling may be published that includes the list in the original ruling and the additions, and supersedes all prior rulings in the series. 2019-39, that are related to a change in the 403(b) Requirements for the form of a plan; (6) amendments that reflect a change of a Providers name, in which case the Provider must notify the IRS, in writing, of the change in name and certify that it still meets the conditions to be a Provider described in section 4.21 (see also section 15 regarding changes in employer identification numbers); (7) amendments to the administrative provisions in the plan (such as provisions relating to investments, plan claims procedures, or the Adopting Employers contact information), provided the amended provisions are not in conflict with any other provision of the plan, still meet the requirements of this revenue procedure, and do not cause the plan to fail to satisfy the 403(b) Requirements (see section 11.03(1)(b)(ii) for additional examples of administrative provisions); and. Proc. Revenue rulings represent the conclusions of the Service on the application of the law to the pivotal facts stated in the revenue ruling. 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. financial reporting, Global trade & Based on local market costs of mid-priced hotels, lodging per diem rates provide caps, or maximum amounts, that can be reimbursed to federal employees for lodging and meals while on official travel. 2019-39 is modified. The high-low M&IE rates increase to $74 (from $71) for travel to high-cost locations and to $64 (from $60) for travel to other locations. Proc. Every 403(b) Pre-approved Plan that provides a vesting schedule for contributions other than elective deferrals must also satisfy the following requirements: (1) the portion of a participants interest in the plan that is not vested must be maintained in a separate account for the participant that is treated as a separate contract to which 403(c) (or, in case of a Custodial Account, 401(a)) applies, (2) as amounts in the participants separate account become nonforfeitable, they must be removed from the separate account and treated as amounts held under a 403(b) plan, to the extent permitted under 1.403(b)-3(d)(2)(ii), and (3) all nonvested amounts remaining in the participants separate account must become nonforfeitable upon termination of the plan. See section 25. The per diem rates are $74 for travel to any high-cost location and $64 for travel to any other location within the continental U.S, in place of the rates indicated in Notice 2020-71. (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. By law, GSA sets these rates annually. Proc. 1121, during which certain telephonic hearings are permitted. The procedure for amendments by the Provider also must state that, for purposes of reliance on the Opinion Letter, the Provider will no longer have the authority to amend the plan on behalf of the Adopting Employer as of the date the plan is treated as an individually designed plan pursuant to section 9.05. (Employees must still substantiate the time, place, and business purpose of their travel expenses.) However, an Adopting Employer of a Standardized Plan that adds language to satisfy the requirements of 415 due to the required aggregation of plans may obtain reliance with regard to 415 by applying for a determination letter using Form 5307 (as updated). 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