Blinky the 3-eyed Fish
Nov 6 2003, 04:19 PM
Does anyone know the process, user fees, etc. for submitting a 457 plan for an tax-exempt organization to the IRS?
I am a complete novice when it comes to these, so any information would be useful.
Harwood
Nov 6 2003, 05:17 PM
I think you just file a Top Hat Exemption with the DOL. No fees.
Details in DOL Reg 2520.104-23
Kirk Maldonado
Nov 6 2003, 07:29 PM
Are you talking about getting a PLR on whether the plan satisfies the Section 457 requirements? If so, at the beginning of each year, the IRS issues a revenue procedure that lays out all of the relevant details. (I don't know the number of this year's procedure.)
Blinky the 3-eyed Fish
Nov 7 2003, 10:50 AM
Yes Kirk, that is what I am talking about. I just wasn't sure if the PLR was needed or if there was some other mechanism. I can research the promulgation to determine the process. Thanks.
Kirk Maldonado
Nov 7 2003, 06:13 PM
A PLR is not required. Few 457 plans get one. But getting one certainly is prudent.
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