SECTION 18. RECORD

KEEPING REQUIREMENTS

plan that the request has been withdrawn. The plan of such an employer will become an individually designed plan unless the employer adopts another Pre-approved Plan.

.02 IRS Retains Information - Even though a request is withdrawn, the IRS will retain all correspondence and documents associated with that request and will not return them to the Provider. If a request is withdrawn, the case may be referred to IRS Employee Plans Examinations, which has audit jurisdiction over the returns of any employers that have adopted the plan.

An Opinion Letter issued to a Provider is not transferable to any other entity. In the case of a change in entity with respect to a Provider, an Opinion Letter issued to such Provider may not be utilized by the changed entity. In addition, if a different entity assumes sponsorship of a Pre-approved Plan, it must submit an application for a new letter. Such an application may be filed at the time of the assumption of plan sponsorship by the new Provider, and the filing is not limited to the applicable on-cycle submission period. The application will be subject to a reduced user fee as provided in Appendix A of Rev. Proc. 2017–4 (as updated annually). The new letter will recognize the change in sponsorship and will not modify the scope of or change the reliance on the original letter. The IRS may, in appropriate circumstances, request documentation of the assumption of sponsorship prior to issuing a letter to the new entity. Examples of a change in entity include, but are not limited to, the acquisition of a Provider by another entity, the sale or transfer of the stock or assets of the Provider to another entity, and any other circumstance that results in a change in an employer’s employer identification number.

If a Provider reasonably concludes that an Adopting Employer’s plan may no longer be a qualified plan and the Provider does not submit a request to correct the qualification failure under EPCRS, it is incumbent on the Provider to notify the Adopting Employer that the plan may no longer be qualified, advise the Adopting Employer that adverse tax consequences may result from loss of the plan’s qualified status, and inform the Adopting Employer about the availability of EPCRS. See Rev. Proc. 2016–51.

.01 Notification to the IRS - A Provider must notify the IRS in writing if an approved plan is no longer in use by any Adopting Employers or the Provider no longer intends to offer the plan for adoption. The written notification must be sent to the address in section 19 and must refer to the file folder number appearing on the latest Opinion Letter issued.

.02 Notification to Employers - A Provider that intends to discontinue an approved plan that has one or more Adopting Employers must inform each Adopting Employer that the plan has ceased to be a Pre-approved Plan, and that the employer’s plan will convert to an individually designed plan (unless the employer adopts another Pre-approved Plan). After so informing the Adopting Employers, the Provider must notify the IRS in accordance with section 16.01.

Revocation of Opinion Letter by the IRS - An Opinion Letter found to be in error or not in accord with the current procedures of the IRS or the IRS’s current interpretation of applicable law may be revoked. See also sections 4.08, 8.01, and 18.01 for other circumstances under which an Opinion Letter may be revoked. Except in rare or unusual circumstances, such revocation will not be applied retroactively. For this purpose, Opinion Letters will be given the same effect as rulings. See section 23 of Rev. Proc. 2017–4 (as updated annually). Revocation may be effected by a notice to the Provider to which the letter was originally issued. The Provider should then notify each Adopting Employer of the revocation as soon as possible. The content of the notification to each Adopting Employer must explain how the revocation affects any reliance an Adopting Employer has on the applicable Opinion Letter and on any determination letter issued.

.01 Filing of Opinion Letter Application Constitutes Agreement to Comply with Record Keeping Requirements - By submitting an application for an Opinion Letter under this revenue procedure (or by having an application filed on its behalf by a Mass Submitter), a Provider agrees, as provided in section 4.08, to comply with the requirements imposed on the Provider by this revenue procedure, including the record keeping requirements of this section. Failure to comply with the requirements imposed on the Provider by this revenue procedure may result in the loss

July 17, 2017 118 Bulletin No. 2017–29