Tax Law Insights

A qualified retirement plan (hereinafter a "Plan") must satisfy the requirements of the Internal Revenue Code ("IRC") in form and in operation. In other words, the documents establishing and governing the Plan must satisfy the IRC requirements and the Plan must be operated in a manner that complies with the IRC requirements. Many plan sponsors confirm a Plan's compliance with the form requirements by obtaining a determination letter from the Internal Revenue Service ("IRS") through the IRS Determination Letter Program.

Based on the form of the documents used to establish the Plan ...