This revenue procedure modifies Rev.
Proc. 2015-36 and sets forth the procedures for the merger of the
master and prototype (M&P) program with the volume submitter
(VS) plan. This revenue procedure requires employers adopting
pre-approved plans to complete and sign new signature pages or new
adoption agreements, as applicable, in order to restate their plans
for recent changes in the law. This revenue procedure require
sponsors of pre-approved plans to furnish copies of their plans to
the Service’s Employee Plans Determinations office, maintain
records of employers that have adopted their plans, prepare and
communicate any necessary interim amendments to adopting employers,
make reasonable and diligent efforts to ensure that employers
restate their plans when necessary, and notify employers if the
sponsor concludes that employers’ plans are no longer qualified.
provides that mass submitters must keep records of their user fees.
This allows mass submitters to certify to the number of other
practitioners seeking approval of the identical pre-approved plan.
In addition mass submitters must prepare and communicate any
necessary interim amendments to the word for word identical
adopters.
Emergency justification
-1545-1674 Rev. Proc. 2017-xx is guidance that is an essential part
of an administrative priority to eliminate burdens on plan
sponsors, employers and the Service with respect to TE/GE’s
Employee Plans pre-approved plan programs. Due to a lack of
resources, the IRS made significant changes to the individually
designed program, generally effective January 1, 2017, that reduced
the instances under which employers maintaining individually
designed plans could submit a determination letter request. As a
result of this contraction, the TE/GE Employee Plans Division is
continuing to encourage and facilitate the use of pre-approved
plans in order to enable more employers to obtain reliance that
their plans are qualified. A critical part of this effort includes
issuing Rev. Proc. 2017-xx, which expands current pre-approved plan
program availability to include additional types of employers
(governmental employers and non-electing churches) and by combining
the current Master & Prototype (M&P) and Volume Submitter
(VS) pre-approved programs into a combined, streamlined program
with modified rules and procedures which provide greater
flexibility in plan design. This combined pre-approved program
generally incorporates characteristics that were previously in
either or both of the M&P or the VS programs. Thus, the vast
majority of sponsoring organizations that offered pre-approved
M&P or VS plans, or both, will generally be familiar with the
characteristics and requirements of the combined program. However,
the current submission under the program begins August 1, 2017.
Sponsors of these plans will need several months of lead time after
release of the revenue procedure to prepare their submissions. If
clearance of the procedure is delayed, in addition to delaying this
high profile program covering over 300,000 employer sponsored
retirement plans, separate guidance would need to be issued as soon
as possible that would extend the submission deadline. We ask that
OMB approve the collection of information on an expedited basis.
The Employee Plans Division of the IRS and the Chief Counsel’s
Office of the IRS have consulted with stakeholders in drafting the
guidance in order to take all practicable steps to minimize the
burden of the collection of information.
US Code:
26
USC 403(b) Name of Law: Tax Sheltered Annuity Plans
US Code: 26
USC 401 Name of Law: Qualified pension, profit-sharing, and
stock bonus plans.
The merger of the master and
prototype (M&P) program with the volume submitter (VS) program
results in a reduction in the total number of pre-approved
providers required to submit responses pursuant to this revenue
procedure, and the modifications to the pre-approved program make
it more accessible to new types of plans, increasing the number of
total respondents. In addition, the merger will require providers
to modify the plans they utilize to accommodate the rules of the
modified program which will lead to a decrease in the total
recordkeeping burden under this revenue procedure. Change in Burden
Hours from 2015-36: Signature for Reinstatement: -35,910 Furnish
Copies: 156,600 Records: -65 Certificate of Intent: -15,225
(removed) The burden also changed in the forms. The following shows
the change in burden from 1545-0169: 4461:-7,330 4461-A: -12,475
4461-B: -30,160
$3,187
No
No
No
No
No
Uncollected
Kathleen Hermann
2022839635
No
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.
Form Form 4461-B Form 4461-B
Emergency justification2 final.docx
Rev Proc 2017-XX modifying Revenue Procedure 2015-36 (Master and Prototype and Volume Submitter Plans) (previously Rev. Proc. 2011-49 & 2005-16)