IRS Establishes Cyclical Determination Letter Filing Periods

The Internal Revenue Service recently issued guidance which officially opens the determination letter program beginning February 1, 2006 for changes under the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA). It also establishes fixed determination letter filing cycles for individually designed and pre-approved tax-qualified plans, and extends the EGTRRA remedial amendment period (for plans that adopted timely good faith amendments). The cycles are staggered and spread over a five year period for individually designed plans and a six year period for pre-approved plans.