Save time with our cheat sheets, fact sheets, checklists & books!

February 16, 2009

Opinion letter



A written statement issued by the IRS to a plan sponsor as to the acceptability (for purposes of  qualified plans)

  • of the form of a master or prototype plan and any related trust or custodial account under a qualified plan , employee annuity or master trust
  • as to the conformance of a prototype trust, custodial account or annuity with the requirements of Traditional IRAs , SEP IRAs , SIMPLE IRAs and Roth IRAs as applicable.

Opinion letters are issued on:

  • Initial applications
  • Plan amendments
  • Master trusts involving the initial acceptability or amendment of such trusts if they are part of qualified plans  .

Referring Cite

IRM § , Revenue Procedure 2000–20

Additional Helpful Information

  • Opinion letters are issued by (by the Director of  Employee Plans Rulings and Agreements in the Office of the Commissioner, Tax Exempt and Government Entities Division of the IRS
  • Opinions letters are not issued for IRS model IRAs, SEPs or SIMPLES

Keep Learning

Qualified Charitable Distribution (QCD)

Definition A distribution that is excludable from the distributee’s income, as a result of meeting the following requirements: It is made after the distributee reaches

Saver’s Credit

Definition Also known as the Saver’s Tax Credit: Nonrefundable tax credit available to eligible individuals who make contributions to their retirement account. The saver’s credit

Catch-up Contribution

Definition An additional contribution that can be made to a retirement plan by a participant who is at least age-50 by the end of the

Be among the first to know when

IRA Rules