SECTION 23. RECORD KEEPING REQUIREMENTS

.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 set forth in section 4.01(15), to comply with the requirements imposed on the Provider by this revenue procedure, including the record keeping requirements of this section 23. Failure to comply with the requirements imposed on the Provider by this revenue procedure may result in the loss of eligibility to be a Provider and the revocation of Opinion Letters that have been issued to the Provider.

.02 Maintenance and availability of records of Adopting Employers . A Provider must maintain, or have maintained on its behalf, for each of its plans, a record of the names, business addresses, and taxpayer identification numbers of all Adopting Employers. However, a Provider need not maintain records with respect to employers that, to the best of the Provider’s knowledge, ceased to maintain its Pre-approved Plan more than three years earlier. Upon written request, a Provider must provide to the IRS a list of Adopting Employers that indicates, to the best of the Provider’s knowledge, which of those employers continue to maintain the plan as a Pre-approved Plan and which of those employers have ceased to maintain the plan as a Pre-approved Plan within the preceding three years.

December 18, 2023 1536 Bulletin No. 2023–51