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Miami

Cypen & Cypen
SPECIAL SUPPLEMENT
for
FEBRUARY 20, 2009

Stephen H. Cypen, Esq., Editor

IRS GOVERNMENTAL PLANS SURVEY:

In April 2008, Internal Revenue Service, Employee Plans Compliance Unit, launched the Governmental Plans Initiative, consisting of education, outreach, guidance and compliance for the governmental plan community. IRS’s goal was to provide governmental plans with tools, assistance and programs to help plans comply with federal pension law. The Initiative was also to provide IRS with valuable information on how governmental plans comply with the Internal Revenue Code.

The first step in this phase of the Governmental Plans Initiative was mailing of a Questionnaire to a pilot group of twenty-five governmental plans. Simultaneously with mailing of the Questionnaire, IRS has requested comments from the governmental plan community before a final Questionnaire is sent to a larger group of governmental plans at a later date. Comments should be submitted to governmentalplansdialogue@irs.gov by May 19, 2009.

As a convenience, we are providing a link to IRS’s Cover Letter and the accompanying 65-question, 9-part Questionnaire (http://www.irs.gov/retirement/article/0,,id=204168,00.html).

Note that the Cover Letter and Questionnaire do not constitute an audit, investigation or enforcement action. Recipients may refuse to participate in the pilot program without penalty. (Right.) However, they will be contacted if they choose not to participate in the program. (Why?) Pilot data will not be used to select anyone for examination. (Sure.)

Feel free to contact our office if you have any questions.

Copyright, 1996-2009, all rights reserved.

Items in this Newsletter may be excerpts or summaries of original or secondary source material, and may have been reorganized for clarity and brevity. This Newsletter is general in nature and is not intended to provide specific legal or other advice.


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