The IRS today released an advance version of Rev. Proc. 2018-19 that announces a reduction in the user fee paid in connection with the submission of a determination letter request for a terminating plan submitted to the IRS on Form 5310.
Rev. Proc. 2018-19 [PDF 32 KB] provides that the user fee paid on filing Form 5310, Application for Determination for Terminating Plan, is reduced to $2,300 effective January 2, 2018.
The user fee was originally set at $3,000 by Rev. Proc. 2018-4.
Today’s revenue procedure thus modifies the schedule for user fees as provided in that annual revenue procedure for 2018. The IRS today said that applicants who paid the $3,000 user fee, as listed in Rev. Proc. 2018-4, will receive a refund of $700.
© 2018 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.KPMG International Cooperative (“KPMG International”) is a Swiss entity.
Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.
The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.