Part III. Administrative, Procedural, and Miscellaneous

IRA must be submitted using Form 5306, Application for Approval of a Prototype Individual Retirement Arrangement, with the words “Roth IRA” written in the upper margin of the form. The application must be accompanied by a user fee in the same amount as set by Rev. Proc. 98-8 for a traditional IRA.

.03 Dual-purpose prototype docu- ments. A prototype document can only be used as one type of IRA (traditional, SIMPLE, or Roth). However, a prototype document may be designed for use as either a traditional IRA or a Roth IRA provided the conditions in (1) and (2) below are satisfied:

(1) The document is designed so that, upon execution, the owner must explicitly and unambiguously indicate whether the IRA is to be a Roth IRA or a traditional IRA, and it is clear that designation as one type precludes its use as the other type.

(2) Contributions to a Roth IRA are maintained in a separate trust, custodial account or annuity from contributions to a traditional IRA.

Application for approval of such a dual-purpose prototype document must be submitted using Form 5306, with the words “Dual-purpose IRA” written in the upper margin of the form. Except in the case of a sponsoring organization’s wordfor-word identical adoption of a mass submitter’s prototype dual-purpose IRA, the application must be accompanied by a user fee in the amount of 200 percent of the applicable fee set by Rev. Proc. 98-8 for a prototype IRA.

.04 Section 408(c) IRA program. An employer or employee association may apply to the Service for an opinion letter for a section 408(c) IRA that is a Roth IRA using the same procedures in sections 3.01 and 3.02 above that apply for a prototype Roth IRA.

.05 Model form language. The Service will not issue an opinion letter on a document which terms are word-for-word identical to the operative provisions of one of the model forms described in section 2.04 of this revenue procedure (other than any provisions which may be added as Article IX to the form). Such a document is deemed to meet the statutory requirements for a Roth IRA. However, the

26 CFR 601.201: Rulings and determination letters.

Rev. Proc. 98–59