Notice 2011-86

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Notice 2011-86 provides guidance on section 7528(b)(2) of the Internal Revenue Code.

Section 7528(b)(2) provides for exemption from the requirement to pay a user fee for certain applications to the Service for determination letters on the qualified status of pension, profit-sharing, stock bonus, annuity, and employee stock ownership (ESOP) plans. The guidance in the notice generally pertains to such applications that are filed with the Service after January 31, 2011.

Notice 2011-86 amplifies Notice 2002-1 by explaining how to determine, for purposes of eligibility for exemption from the user fee requirement, if such an application has been filed within a remedial amendment period with respect to the plan beginning within the plan’s first five plan years.