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

Applicable RMD Age

Applicable RMD Age The first year for which an IRA owner or plan participant must begin to take RMDs from their tax-deferred retirement account. RMDs

SIMPLE 401(k) Plan

Definition A SIMPLE 401(k) plan is a 401(k) plan established by a small business for it’s employees. Earnings accrue on a tax-deferred basis and distributions

Required Minimum Distribution (RMD)

Definition The minimum amount that must be withdrawn from retirement accounts, including qualified plans, 403(b) accounts, 457(b) accounts or IRAs, each year.  For retirement account

Required beginning date (RBD)

Definition The date by which a retirement account owner must begin distributing required minimum distribution (RMD) amounts from a Traditional,  SEP or SIMPLE IRA, a

Be among the first to know when

IRA Rules