SECTION 8. DUTIES OF A

PROTOTYPE SPONSOR

.01 A prototype sponsor must maintain a written record of the eligible employers that have adopted the plan. Upon written request, the prototype sponsor must provide the Service a list of the names, addresses, and employer identification numbers of all eligible employers that have adopted the plan, excluding employers that ceased to maintain the plan as a prototype plan more than three years prior to the request.

.02 Unless the prototype sponsor has withdrawn its opinion letter application pursuant to section 13, notified the Service and adopting eligible employers that it is abandoning the plan pursuant to section 14, or been notified by the Service under section 15 that its opinion letter has been revoked, the prototype sponsor must continue to maintain the approved status of the plan as provided in section 11. Thus, the prototype sponsor must timely amend the plan for changes in the Code, regulations, revenue rulings, or other guidance published by the Service, and must apply for new opinion letters when required. The prototype sponsor must provide to the eligible employer copies of the plan and any restatements thereof, all amendments and all opinion letters, and must comply with the notice requirements under this procedure and any other written guidance.

.03 The prototype sponsor must have a procedure to verify that an adopting eligible employer has timely completed and signed a new adoption agreement when required ( i.e., upon initial adoption and restatement of the prototype plan). If the prototype sponsor is unable to verify an adopting eligible employer’s timely completion of a new adoption agreement, the prototype sponsor must notify the eligible employer that failure to timely complete a new adoption agreement could result in adverse tax consequences to participants.

.04 The prototype sponsor must have a procedure for adopting eligible employers to acknowledge receipt of plan amendments when an adopting eligible employer is not required to complete a new adoption agreement. The prototype sponsor must notify any adopting eligible employ

ers that fail to acknowledge receipt of a plan amendment that failure to take the amendment into account in the operation of the plan could result in adverse tax consequences to participants.

.05 The filing of an application for an opinion letter for a § 403(b) prototype plan constitutes a representation that the prototype sponsor agrees to comply with the requirements of this revenue procedure. Failure to do so may result in the loss of eligibility to sponsor § 403(b) prototype plans and the revocation of opinion letters that have been issued to the prototype sponsor.