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February 8, 2023

IRS opinion letters for certain preapproved defined benefit plans to be issued February 28, 2023

The IRS has announced (Announcement 2023-06) its intention to issue opinion letters on February 28, 2023, or soon thereafter, for preapproved defined benefit plans that were (1) updated to due to changes in plan qualification requirements listed in Notice 2020-14 and (2) filed with the IRS during the six-year remedial amendment cycle for preapproved defined benefit plans. The announcement also provides dates (1) by which an adopting employer intending to maintain a preapproved defined benefit plan for the third sixth-year cycle must adopt a newly approved plan and (2) during which an adopting employer may file for an individual determination letter.

Published by NTD’s Tax Technical Knowledge Services group; Carolyn Wright, legal editor