Temporary Closing of the Determination Letter Program
for Adopters of Preapproved Defined Contribution Plans
IRS Announcement 2007-90

Announcement 2007-90 states that on December 18, 2007, the IRS will temporarily stop accepting applications for determination letters for defined contribution plans that are filed on Form 5307, Application for Determination for Adopters (Employers) of Master or Prototype or Volume Submitter Plans.

The temporary hiatus in accepting Form 5307 applications will allow the Service to prepare to receive the EGTRRA preapproved (master, prototype and volume submitter) applications. The EGTRRA document may be submitted to the Service for a determination letter (if needed) using Form 5307 during the approximately two-year restatement period that the Service expects to announce will begin early in 2008. At this time, the earliest start date is not expected before April 1, 2008.

When the progarm is re-opened, the IRS will also publish an announcement providing the date by which adopting employers must adopt the newly approved EGTRRA preapproved plans. This date will also be the deadline for adopting employers to file Form 5307 determination letter applications for their EGTRRA-restated preapproved defined contribution plans. Again, this date should be approximately two years after the opening date.

The IRS expects to make this announcement early next year.

Notes:

1. A determination letter application for a defined contribution plan filed on Form 5307 on or after December 18, 2007 and before the opening of the approximately two-year period for adopting EGTRRA-restated preapproved defined contribution plans will be returned to the applicant.
2. This announcement does not affect the ability of adopting employers to apply for determination letters on Form 5307 for preapproved defined benefit plans. The Service will continue to accept and process such applications until further notice.
3. This announcement also does not affect the ability of adopting employers of pre-approved plans (whether defined contribution or defined benefit) to apply on Form 5307 for a determination letter for plan amendments related to a voluntary correction program (VCP) submission or as required under the correction on audit program (Audit CAP).