In determining if there are late quarterly interest charges due for the 2002 calendar plan year, when are the prior year's RPA liabilities redetermined?
I am thinking that in accordance with 412(m)(7) and 412(l)(7)©(i)(III), if you use an OBRA interest rate for the 2002 valuation which is above 6.00% (the limit at 105% of the range), you MUST redetermine last year's RPA liabilities using 120% of the range as in effect on 1/01 (i.e. 7.10%). If at or under 6.00%, then don't redetermine the liabilities.
I am less than certain.
Additionally, I looked at the Sch B instructions for 2002 and it replaces MUST with COULD, effectively. Meaning that you might not be required to recompute.