SECTION 1. WHAT IS

THE PURPOSE OF THIS REVENUE PROCEDURE?

Purpose of revenue procedure

Organization of revenue procedure

.01 This revenue procedure explains how the Internal Revenue Service (Service) provides advice to taxpayers on issues under the jurisdiction of the Commissioner, Tax Exempt and Government Entities Division, Employee Plans Rulings and Agreements Office (Employee Plans Rulings and Agreements). It also details the types of advice available to taxpayers, and the procedures for requesting and receiving such advice.

.02

(1) Part I of this revenue procedure sets forth general information about the types of advice provided by Employee Plans Rulings and Agreements and the procedures that apply to both requests for determination letters and requests for private letter rulings. Part II contains procedures for determination letters for various types of plans and transactions. Part III contains procedures for private letter rulings within the jurisdiction of Employee Plans Rulings and Agreements. Part IV sets forth the rules for user fees that are required to be paid when requesting various types of advice.

January 2, 2024 166 Bulletin No. 2024–1

Other guidance affecting this revenue procedure

(2) Employee Plans Rulings and Agreements issues letter rulings only on certain matters specified in section 24.01 of this revenue procedure. Rev. Proc. 2024-1, this Bulletin, sets forth procedures for obtaining letter rulings from the Office of Associate Chief Counsel, including letter rulings relating to qualified retirement plans, § 403(b) plans, and IRAs. Rev. Proc. 2024-2, this Bulletin, sets forth procedures for requesting technical advice from the Office of Associate Chief Counsel.

.03

(1) Guidance applicable to the individually designed determination letter program

(a) Rev. Proc. 2022-40, 2022-47 IRB 487, provides the circumstances under which a plan sponsor may submit an individually designed plan determination letter application to Employee Plans Rulings and Agreements. Under Rev. Proc. 2022-40, an employer sponsoring an individually designed plan, including, beginning June 1, 2023, a § 403(b) individually designed plan, generally may file a determination letter application only for initial plan determination, for plan termination, and in certain other circumstances identified by the Service in guidance published in the Internal Revenue Bulletin (IRB). Plan sponsors may also submit a determination letter application in other specified circumstances, including a submission for a qualified individually designed Merged Plan, as defined in Rev. Proc. 2022-40.

A plan sponsor of a § 403(b) individually designed plan may submit the plan for an initial plan determination no earlier than the dates provided in the chart below. The dates are based on the last digit of a plan sponsor’s EIN. A plan sponsor may submit a determination letter application in any year after the year identified in the chart.

(b) Each year a Required Amendments List is issued, which establishes the end of the remedial amendment period for an individually designed plan with respect to changes in qualification requirements that appear on the list. The 2023 Required Amendments List for Qualified Retirement Plans and § 403(b) Retirement Plans is set forth in Notice 2023-79, 2023-52 IRB ___. See https:// www.irs.gov/retirement-plans/required-amendments-list for all Required Amendments Lists.

(c) Notice 2017-1, 2017-2 IRB 367, provides an exemption from the requirement to pay a user fee for certain requests to the Service for determination letters with respect to the qualified status of pension, profit-sharing, stock bonus, annuity, and employee stock ownership (ESOP) plans maintained by small employers.

(2) Guidance applicable to pre-approved plans – fourth (or later) remedial amendment cycle (defined contribution plans) ¹ ; fourth (or later) remedial amendment cycle (defined benefit plans); and third (or later) remedial amendment cycle (§ 403(b) plans)

1 The third six-year remedial amendment cycle for defined contribution qualified pre-approved plans began on February 1, 2017, and ended on January 31, 2023. The fourth six-year remedial amendment cycle for defined contribution qualified pre-approved plans began on February 1, 2023.

Bulletin No. 2024–1 167 January 2, 2024

(a) Rev. Proc. 2023-37, 2023-51 IRB ___, sets forth the rules regarding qualified pre‑approved plans and § 403(b) pre-approved plans, and combines, conforms, clarifies, and updates rules for qualified pre-approved plans and § 403(b) plans previously set forth in prior revenue procedures. In general, Rev. Proc. 2023-37 is effective on November 21, 2023. Sections 9 through 24 of Rev. Proc. 2023-37 (regarding procedures for applications of opinion letters) are effective with respect to:

(i) a Cycle 4 (or later) defined contribution qualified pre-approved plan (the submission period for a provider of a defined contribution qualified pre-approved plan to submit an application for a Cycle 4 opinion letter begins on February 1, 2024);

(ii) a Cycle 4 (or later) defined benefit qualified pre-approved plan; and

(iii) a Cycle 3 (or later) § 403(b) pre-approved plan.

Section 25 of Rev. Proc. 2023-37 (regarding procedures for applications for a determination letter) is effective with respect to:

(i) an application for a determination letter submitted by an adopting employer with respect to a Cycle 4 (or later) defined contribution qualified pre-approved plan;

(ii) an application for a determination letter submitted by an adopting employer with respect to a Cycle 4 (or later) defined benefit qualified pre-approved plan; and

(iii) an application for a determination letter submitted by an adopting employer with respect to a Cycle 2 (or later) § 403(b) pre-approved plan.

(3) Guidance applicable to the qualified pre-approved plan program – third remedial amendment cycle (defined benefit plans) ²

(a) Rev. Proc. 2016-37 ³ sets forth a system of remedial amendment cycles that applies to qualified pre-approved plans and the deadlines to submit applications for opinion letters.

(b) Rev. Proc. 2017-41, 2017-29 IRB 92, modifies the pre-approved program for qualified plans by eliminating the distinction between master and prototype (M&P) and volume submitter (VS) plans, liberalizing the types of plans eligible for pre-approved status, and affording greater flexibility in plan design. In addition, Rev. Proc. 2017-41 sets forth the procedures for obtaining an opinion letter for qualified pre-approved plans submitted with respect to the third six‑year remedial amendment cycle.

(c) Rev. Proc. 2020-10, 2020-21 IRB 295, provides that the third six-year remedial amendment cycle for pre-approved defined benefit plans began on May 1, 2020, and the on-cycle submission period for providers to submit opinion letter applications began on August 1, 2020.

2 The fourth cycle for defined benefit qualified pre-approved plans will not commence until after 2024. See section 1.03(3)(a) of this revenue procedure for information regarding Rev. Proc. 2023-37.

3 For purposes of this revenue procedure, references to Rev. Proc. 2016-37 are to Rev. Proc. 2016-37, as modified by Rev. Proc. 2017-41, 2017-29 IRB 92, Rev. Proc. 2020-40, 2020-38 IRB 575, and Rev. Proc. 2021-38, 2021-38 IRB 425, but not as modified by Rev. Proc. 2022-40, 2022-47 IRB 487 or Rev. Proc. 2023-37.

January 2, 2024 168 Bulletin No. 2024–1

(d) Notice 2020-14, 2020-13 IRB 555, sets forth the 2020 Cumulative List, which is used by the Service in its review of opinion letter applications for pre-approved defined benefit plans during the third six-year remedial amendment cycle.

(e) Rev. Proc. 2020-40, 2020-38 IRB 575, modifies Rev. Proc. 2016-37 to provide that the general deadline for adopting a discretionary amendment made to a qualified pre‑approved plan (generally the end of the plan year for which the plan amendment is put into effect) applies unless a statutory provision, regulations, or other guidance published in the Internal Revenue Bulletin sets forth a different deadline.

(f) Rev. Proc. 2021-38, 2021-38 IRB 425, modifies the interim amendment deadline set forth in section 15.04(1) of Rev. Proc. 2016-37 to provide that an interim amendment made to a preapproved plan qualified under § 401(a) is adopted timely if the amendment is adopted by the end of the second calendar year after the calendar year in which the change in qualification requirements is effective with respect to the plan. Rev. Proc. 2021-38 applies to disqualifying provisions that are effective with respect to a plan after December 31, 2020.

(g) Announcement 2023-6, 2023-9 IRB 501, provides that the Service intends to issue opinion letters with respect to the third six-year remedial amendment cycle for defined benefit qualified pre-approved plans by February 28, 2023, or soon thereafter. Announcement 2023-6 also provides that an employer adopting a newly approved defined benefit plan will be required to adopt the plan document by March 31, 2025, and that, from April 1, 2023, to March 31, 2025, the Service will accept applications for determination letters from employers who adopt such plans under the third six-year remedial amendment cycle and are otherwise eligible to submit a determination letter request.

(4) Guidance applicable to § 403(b) pre-approved plans – first and second remedial amendment cycles

(a) Rev. Proc. 2013-22, 2013-18 IRB 985, ⁴ sets forth the procedures for obtaining opinion and advisory letters for § 403(b) prototype plans and VS plans with respect to the first six-year remedial amendment cycle for § 403(b) pre-approved plans (the cycle that ended on June 30, 2020). Rev. Proc. 2013-22 also sets forth the initial remedial amendment period for § 403(b) plans and provides that the Service will announce, in subsequent guidance, the date that will be the last day of the remedial amendment period.

(b) Rev. Proc. 2019-39, 2019-42 IRB 945, as modified by Rev. Proc. 2020-40, 2020-38 IRB 575, Notice 2020-35, 2020-35 IRB 948, and Rev. Proc. 2021-37, 2021-38 IRB 385, sets forth a system of recurring remedial amendment periods for correcting form defects in § 403(b) individually designed plans and § 403(b) pre-approved plans first occurring after the initial remedial amendment period ends. Rev. Proc. 2019-39 also provides plan amendment deadlines for § 403(b) individually designed and pre-approved plans. Rev. Proc. 2020-40 modifies Rev. Proc. 2019-39 to provide that the general deadline for adopting a discretionary amendment made to a § 403(b) pre-approved plan (generally the end of the plan year for which the plan amendment is put into effect) applies unless a statutory provision, regulations, or other guidance published in the Internal Revenue Bulletin, sets forth a different deadline.

(c) Rev. Proc. 2017-18, as modified by Notice 2020-35, 2020-35 IRB 948, provides that the last day of the initial remedial amendment period for § 403(b) pre-approved plans was generally June

4 For purposes of this revenue procedure, references to Rev. Proc. 2013-22 are to Rev. Proc. 2013-22, as modified by Rev. Proc. 2014–28, 2014-16 IRB. 944, Rev. Proc. 2015–22, 2015-11 IRB 754, Rev. Proc. 2019-39, 2019-42 IRB 945 and Rev. Proc. 2021-37, 2021-38 IRB 385; and clarified by Rev. Proc. 2017-18, 2017-5 IRB 743.

Bulletin No. 2024–1 169 January 2, 2024

30, 2020. Consequently, the second six-year remedial amendment cycle for § 403(b) pre-approved plans began on July 1, 2020.

(d) Rev. Proc. 2021-37 modifies and supersedes Rev. Proc. 2013-22 for opinion letter applications submitted with respect to a § 403(b) pre-approved plan’s second six-year remedial amendment cycle. The provisions of Rev. Proc. 2013-22 continue to apply to opinion and advisory letter applications submitted for the first cycle for § 403(b) pre‑approved plans.

(5) Guidance applicable to the IRA opinion letter program