SECTION 4. MODEL IRAS

.01 Amendment not required. Model IRAs need not be amended in order for trustees to operate in accordance with the statutory provisions listed in Section 2.06 above. The Service expects to issue revised model IRAs shortly, and although use of the new models is not required, the Service recommends adoption of the latest model IRAs.

.02 New model IRAs. The Service will issue two model IRAs for use by issuers and annuitants to establish a traditional individual retirement annuity or a SIMPLE individual retirement annuity. The forms - Form 5305–TB, Traditional Individual Retirement Annuity Endorsement ; and Form 5305–SB, SIMPLE Individual Retirement Annuity Endorsement - are expected to be available shortly.