Tax News

CCH (cch.taxgroup.com) reports:

The IRS has published the 2007 Cumulative List of Changes in Plan Qualification Requirements (2007 Cumulative List). The 2007 Cumulative List informs plan sponsors and practitioners of issues the IRS has specifically identified for review in determining whether individually designed single employer plans filing in Cycle C and Code Sec. 414(d) governmental plans have been properly updated. The 2007 Cumulative List reflects changes made by a number of recent laws, including the the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), (P.L. 107-16) and the Pension Protection Act of 2006 (P.L. 109-280), and by miscellaneous IRS guidance published in the last five years.
In order to be qualified, a plan must comply with all relevant qualification requirements, not just those on the 2007 Cumulative List. The IRS will not review plan language for guidance issued after October 1, 2007, statutes enacted after October 1, 2007, qualification requirements first effective in 2009 or later, or statutory provisions first effective in 2008, for which no guidance is identified in the 2007 Cumulative List. Thus, sponsors of pre-approved plans may not rely on opinion or advisory letters with respect to any guidance issued after October 1, 2007, unless that guidance is on the 2007 Cumulative List. The 2007 Cumulative List does not extend the deadline by which a plan must be amended to comply with any statutory, regulatory or guidance changes.
Notice 2007-94, 2007FED ¶46,734
Other References:
Code Sec. 401
CCH Reference - 2007FED ¶17,507.041
CCH Reference - 2007FED ¶17,507.15
CCH Reference - 2007FED ¶17,507.2531
CCH Reference - 2007FED ¶17,929.024
CCH Reference - 2007FED ¶17,929.06
Tax Research Consultant
CCH Reference - TRC RETIRE: 51,052.20
CCH Reference - TRC RETIRE: 51,100
CCH Reference - TRC RETIRE: 66,058.10