IRS Cuts User Fee for Applying for Determination Letter on Plan Termination
The IRS on March 14 announced that it is retroactively cutting the user fee involved in using Form 5310, Application for Determination for Terminating a Plan. It made the announcement in Revenue Procedure (Rev. Proc.) 2018-19
Rev. Proc. 2018-19 modifies Rev. Proc. 2018-4
. Specifically, Rev. Proc. 2018-19 changes one user fee set forth in Appendix A of Rev. Proc. 2018-4, Schedule of User Fees, regarding applications on Form 5310, Application for Determination for Terminating Plan. It cuts the user fee from $3,000 to $2,300, effective Jan. 2, 2018.
Not only does Rev. Proc. 2018-19 make the user fee reduction retroactive, it also says that applicants who paid the $3,000 user fee listed in Rev. Proc. 2018-4 will receive a refund of $700.