Takeover case for me today. They do not have enough money to fund the 2001 minimum funding contribution and have exhausted all business and personal loans. The outlook for the company is good, though. My client is deciding whether or not to begin compiling the necessary paperwork to send into the IRS for the waiver under Rev Proc 94-41. They want to know that if they rush around prior to March 15th, will this waiver even be granted? If anyone has applied for a waiver under Rev Proc 94-41, can you tell me whether or not it was granted?

I helped a client prepare a waiver about 3 months ago. We advised them on several points:
- it is not guaranteed,
- the purpose of a waiver is for temporary financial hardship, and
- if the IRS views it as more than temporary, then it is likely the IRS will deny the request.

(I'm skeptical about whether this client can recover.) The client made the application anyway. No response from the IRS yet.