PERAC Memo #13 - 2009: IRS Questionnaire

IRS Questionnaire

Summary

This memo alerts boards that the IRS has issued a Pilot Governmental Plan Questionnaire to a sample of governmental pension plans (with a larger round to follow), and that any Massachusetts retirement board plan could be randomly selected despite having already filed a Determination Letter request. If a board receives a questionnaire, it should not complete it independently but should retain a copy for its records and forward the original to PERAC for handling.

Full Text

MEMORANDUM #13, 2009 M E M O R A N D U M TO: All Retirement Boards FROM: Barbara Phillips, General Counsel RE: IRS Questionnaire DATE: February 20, 2009 It has been brought to our attention that the IRS has issued a Pilot Governmental Plan Questionnaire to twenty five governmental pension plans. Even though each of your plans has already filed a Request for a Determination Letter, tax counsel advises us that this will not keep one of our plans from being randomly selected and sent a questionnaire. If you have received or do receive this questionnaire, please do NOT attempt to fill it out on your own. In keeping with PERAC’s commitment to help the retirement boards through this process, we would prefer it if you would make a copy of the questionnaire for your records and send the original on to us. The IRS also plans to send questionnaires to a larger group of governmental plans at a later date. Please be aware of this and if your plan is selected in the second batch, please follow the procedures as set out above. Thank you for your continued cooperation in this regard.