Part IV. Items — Internal Revenue Bulletin 2002-19

signed original and eight (8) copies) that are submitted timely to the IRS. All comments will be available for public inspection and copying.

A public hearing may be scheduled if requested in writing by a person that timely submits written comments. If a public hearing is scheduled, notice of the date, time, and place for the hearing will be published in the Federal Register .

Drafting Information

Notice of Proposed Rulemaking by Cross- Reference to Temporary Regulations

Required Distributions From Retirement Plans

REG–108697–02

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice of proposed rulemaking by cross-reference to temporary regulations.

SUMMARY: In the Rules and Regulations section of the Federal Register, the IRS is issuing temporary regulations (T.D. 8987 on page 852 of this Bulletin) that provide guidance concerning required minimum distributions for defined benefit plans and annuity contracts providing benefits under qualified plans, individual retirement plans, and section 403(b) contracts. The regulations will provide the public with guidance necessary to comply with the law and will affect administrators of, participants in, and beneficiaries of qualified plans; institutions that sponsor and individuals who administer individual retirement plans, individuals who use individual retirement plans for retirement income, and beneficiaries of individual retirement plans; and employees for whom amounts are contributed to section 403(b) annuity contracts, custodial accounts, or retirement income accounts and beneficiaries of such contracts and accounts. The text of those temporary regulations also serves as the text of these proposed regulations.

DATES: Written or electronic comments must be received by July 16, 2002.

ADDRESSES: Send submissions to: CC:ITA:RU (REG–108697–02), room 5226, Internal Revenue Service, POB 7604, Ben Franklin Station, Washington, DC 20044. Submissions may be hand delivered Monday through Friday between the hours of 8 a.m. and 5 p.m. to: CC:ITA:RU (REG–108697–02), Courier’s Desk, Internal Revenue Service,

1111 Constitution Avenue, NW, Washington, DC. Alternatively, taxpayers may submit comments electronically directly to the IRS Internet site at http:// www.irs.gov/regs .

FOR FURTHER INFORMATION CONTACT: Cathy Vohs at 622–6090

SUPPLEMENTARY INFORMATION:

Background

Final and Temporary regulations in the Rules and Regulations portion of the Federal Register amend the Income Tax Regulations (26 CFR part 1) relating to section 401(a)(9). The temporary regulations (§ 1.401(a)(9)–6T) contain rules relating to minimum distribution requirements for defined benefit plans and annuity contracts purchased with an employee’s account balance under a defined contribution plan. The text of those temporary regulations also serves as the text of these proposed regulations. The preamble to the temporary regulations explains the temporary regulations.

Special Analyses

It has been determined that this notice of proposed rulemaking is not a significant regulatory action as defined in Executive Order 12866. Therefore, a regulatory assessment is not required. It also has been determined that section 553(b) of the Administrative Procedure Act (5 U.S.C. chapter 5) does not apply to these regulations. Because § 1.401(a) (9)–6 imposes no new collection of information on small entities, a Regulatory Flexibility Analysis under the Regulatory Flexibility Act (5 U.S.C. chapter 6) is not required. Pursuant to section 7805(f) of the Internal Revenue Code, this notice of proposed rulemaking will be submitted to the Chief Counsel for Advocacy of the Small Business Administration for comment on its impact on small business.

Comments and Requests for a Public Hearing

Before these proposed regulations are adopted as final regulations, consideration will be given to any written comments (a

The principal authors of these regulations are Marjorie Hoffman and Cathy A. Vohs of the Office of the Division Counsel/Associate Chief Counsel (Tax Exempt and Government Entities). However, other personnel from the IRS and Treasury participated in their development.

- - - -

Proposed Amendments to the Regulations

Accordingly, 26 CFR part 1 is proposed to be amended as follows:

PART 1—INCOME TAXES

Paragraph 1. The authority citation for part 1 is amended by an entry in numerical order to read in part as follows:

Authority: 26 U.S.C. 7805 - -

§ 1.401(a)(9)–6 is also issued under 26 U.S.C. 401(a)(9). - - Par. 2. Section 1.401(a)(9)–6 is added to read as follows:

§ 1.401(a)(9)–6 Required minimum distri- butions from defined benefit plans .

[The text of proposed § 1.401(a)(9)–6 is the same as the text of § 1.401 (a)(9)–6T published elsewhere in this issue of the Federal Register ].

Robert E. Wenzel, Deputy Commissioner of

Internal Revenue.

(Filed by the Office of the Federal Register on April 16, 2002, 8:45 a.m., and published in the issue of the Federal Register for April 17, 2002, 67 F.R. 18834)

2002–19 I.R.B. 918 May 13, 2002

Extended Period for Use of Certain Forms

Announcement 2002–49

In Rev. Proc. 2002–10 (2002–4 I.R.B. 401), the Service provided that existing model IRAs, SEPs, and SIMPLE IRA plans may not be used after June 1, 2002, to establish new IRAs, SEPs, or SIMPLE IRA plans. In response to comments, the Service is extending the June 1 deadline to October 1, 2002. Thus, a financial institution may use an existing model IRA to establish a new IRA for a customer through October 1, 2002. Similarly, an employer may use an existing model SEP or SIMPLE IRA plan to establish such a plan through October 1, 2002. The deadlines by which revised model forms must be adopted under Rev. Proc. 2002–10 are unchanged.

Filing of Form 8851, Summary of Archer MSAs, Extended to Calendar Year 2002

Announcement 2002–52

General

As a result of the Job Creation and Worker Assistance Act of 2002, Public Law 107–147, the filing of Form 8851, Summary of Archer MSAs, was extended into calendar year 2002.

01. The most current electronic/ magnetic filing procedures are found in Revenue Procedure 2001–31, printed in Internal Revenue Bulletin 2001–20, dated May 14, 2001.

02. The due date for filing paper returns with IRS also applies to electronic and magnetic media filing. File Form 8851, postmarked no later than August 1, 2002, to report the number of Archer MSAs you established from January 1 through June 30, 2002.

03. All correspondence, paper forms and media relating to Form 8851 should be sent to:

IRS-Martinsburg Computing Center Information Reporting Program Attn: 8851 Coordinator 240 Murall Drive Kearneysville, WV 25430

.04 A list of the acceptable media and methods of filing Form 8851 are as follows:

Note: Beginning in January 2003, IRS/MCC will no longer accept 9–track magnetic tape for the filing of Form 8851. Beginning in January 2004, 8mm, 4mm, or Quarter Inch Cartridges (QIC) will no longer be acceptable .

.05 The Information Reporting Program (IRP) Call Site was reorganized and is now the IRP Customer Service Section. The IRP Customer Service Section continues to assist filers via a toll-free number and e-mail with information return issues. The new toll-free number is 866–455–7438 . The toll-free number can only be used within the United States. Filers may continue to use the original telephone number, 304–263–8700 or TTY/TDD 304–267–3367 (not toll-free). E-mail may be sent to mccirp@irs.gov . Hours of operation are Monday through Friday, 8:30 a.m. to 4:30 p.m., Eastern time.

tridges (QIC)

3 ½-Inch Diskette
Electronic Filing - FIRE System
Magnetic Tape
Tape Cartridge
8mm, 4mm, and Quarter Inch Car

May 13, 2002 919 2002–19 I.R.B.