Over a span of three years, nearly 2,000 letters were sent. Approximately half of the contacts were due to errors on the Form 5500 return. In many of these cases, the plan sponsors amended their returns and corrected the errors. Taxpayers made errors in participant counts. Also, a signif...
The Internal Revenue Service (IRS) has issued procedural guidelines for its employees to use when processing determination letter requests for pension equity plans (PEP), a type of hybrid pension plan. The guideline documents from the IRS explain the issues unique to PEPs that it will take into...