Instructions for Form 5307 |
2006 Tax Year |
This is archived information that pertains only to the 2006 Tax Year. If you are looking for information for the current tax year, go to the Tax Prep Help Area.
Adopters of M&P or volume submitter plans file Form 5307 to
request a determination letter from the IRS for the qualification of a
defined benefit or a defined contribution plan and the exempt status
of any related trust.
Note:
A qualified plan must satisfy section 401(a) including, but not
limited to, participation, vesting, nondiscriminatory contributions or
benefits, distributions, and contribution and benefit limitations.
This form may be filed by an adopter of:
-
An approved non-standardized M&P plan,
-
An approved volume submitter plan, or
-
An approved standardized plan under the circumstances
described in Rev. Proc. 2000-20.
Note.
See Announcement 2001-77, 2001-30 I.R.B. 83 for exceptions.
Standardized plans will generally satisfy the requirements of
sections 410(b) and 401(a)(4) if they follow the terms of their plan
document. Specific determinations regarding sections 410(b) and
401(a)(4) are not routinely issued for these plans since a
standardized plan operated in accordance with its terms will satisfy
the requirements of sections 410(b) and 401(a)(4).
This form may not be filed to request a determination letter for:
-
An M&P adopter that amends the plan other than through
the choice of elections offered under the approved adoption agreement.
However, an M&P adopter may amend the adoption agreement to add
overriding language for sections 415 or 416 because of the aggregation
of plans or may amend the trust or custodial account document to make
any permitted changes;
-
A cash balance plan (use Form 5300, Application
for Determination for Employee Benefit Plan);
-
A multiemployer or multiple-employer plan (use Form
5300);
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An employee stock ownership plan (ESOP) (Attach Form
5309, Application for Determination of Employee Stock Ownership
Plan, to Form 5300);
-
An individually designed plan (other than an approved volume
submitter plan) (Use Form 5300);
-
A request to determine if you are a member of an affiliated
service group (use Form 5300); or
File Form 5307 at the address indicated below:
Internal Revenue Service,
Covington, KY 41012–0192.
Requests shipped by
express mail or a delivery service should be sent to:
Internal Revenue Service,
201 West Rivercenter Blvd.,
Attn: Extracting Stop 312,
Private Delivery Services.
In addition to the United States mail, you can use certain private
delivery services designated by the IRS to meet the “ timely mailing
as timely filing/paying” rule for tax returns and payments. The
most recent list of designated private delivery services was published
by the IRS in October 2001 and includes only the following:
-
Airborne Express (Airborne): Overnight Air Express Service,
Next Afternoon Service, Second Day Service.
-
DHL Worldwide Express (DHL): DHL “Same Day” Service,
DHL USA Overnight.
-
Federal Express (FedEx): FedEx Priority Overnight, FedEx
Standard Overnight, FedEx 2Day.
-
United Parcel Service (UPS): UPS Next Day Air, UPS Next Day
Air Saver, UPS 2nd Day Air, UPS 2nd Day Air A.M., UPS Worldwide
Express Plus, and UPS Worldwide Express.
The private delivery service can tell you how to get written proof
of the mailing date.
How to Complete the Application
Applications are screened for completeness. The application
must be signed by the employer, plan administrator or authorized
representative. Incomplete applications may be returned to the
applicant. For this reason, it is important that an appropriate
response be entered for each line item (unless instructed otherwise).
In completing the application, pay careful attention to the following:
-
N/A (not applicable) is accepted as a response only
if an N/A block is provided.
-
If a number is requested, a number must be entered.
-
If an item provides a choice of boxes to check, check only
one box unless instructed otherwise.
-
If an item provides a box to check, written responses are
not acceptable.
-
Governmental plans and nonelecting church plans do not have
to complete line 10a.
-
The IRS may, at its discretion, require a plan restatement
or additional information any time it is deemed necessary.
Note.
Rev. Proc. 2001-6 publishes the guidance under which the
determination letter program is administered. It is updated annually
and can be found in the Internal Revenue Bulletin (I.R.B.)
Example. Rev. Proc. 2001-6, 2001-1 I.R.B. 194 superseded
Rev. Proc. 2000-6.
-
The appropriate user fee, if applicable, and Form
8717, User Fee for Employee Plan Determination Letter Request.
Please submit a separate check for each application. Make checks
payable to the “United States Treasury.”
-
Schedule Q (Form 5300), if any elective determinations are
being requested, and any additional schedules or demonstrations
required by these instructions or by the instructions for Schedule
Q.
-
All applications for plans that have at any time in the past
received a favorable determination letter must include a copy of the
plan's latest determination letter.
-
An opinion or advisory letter issued to the plan must
accompany all applications for adopters of M&P or volume submitter
plans.
-
An adoption agreement must be submitted for M&P plans.
Do not submit a copy of the basic plan document or trust instrument
unless the plan is an M&P which uses a separate trust or custodial
account document, in which case such trust or custodial account
document must be submitted along with the application.
-
All applications submitted by adopters of approved volume
submitter plans must be accompanied by a copy of the plan and trust
instrument and a written representation, made by the volume submitter
under penalty of perjury, which explains if the plan and trust
instrument are or are not word-for-word identical to the approved
specimen plan and, if not identical, describes the location, nature
and effect of each difference from the language of the approved
specimen plan.
-
Written authorization allowing the volume submitter
practitioner to act as a representative of the employer with respect
to the request for a determination letter.
-
All applications submitted by adopters of approved volume
submitter plans must also be accompanied by any other information or
material required by the Service.
Specific Plans—Additional Requirements
(See Procedural Requirements Checklist)
-
If this application is filed for a standardized plan,
complete only lines 1 through 5, 7 through 9, and 10c. Explain in a
cover letter why the application is being filed.
-
For a governmental or nonelecting church plan, file Form
5307 but skip line 10a. A nonelecting church plan is a plan for which
an election under section 410(d) has not been made.
-
For plans of controlled groups of corporations, trades or
businesses under common control, and affiliated service groups, submit
the statement specified in the instructions for lines 6a and
6b.
-
File Form 5310, Application for Determination for
Terminating Plan, to request a determination letter for the complete
termination of a DBP or DCP.
-
File Form 5310-A, Notice of Merger,
Consolidation, or Transfer of Plan Assets or Liabilities, 30 days
prior to a merger, consolidation, or transfer of plan assets or
liabilities.
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