Internal Revenue Bulletin:  2007-25 

June 18, 2007 

Announcement 2007-58

Limitations on Benefits and Contributions Under Qualified Plans; Correction


AGENCY:

Internal Revenue Service (IRS), Treasury.

ACTION:

Correction to final regulations.

SUMMARY:

This document contains a correction to final regulations (T.D. 9319, 2007-18 I.R.B. 1041) that were published in the Federal Register on Thursday, April 5, 2007 (72 FR 16878) regarding the limitations of section 415, including updates to the regulations for numerous statutory changes since comprehensive final regulations were last published under section 415.

DATES:

This correction is effective May 23, 2007.

FOR FURTHER INFORMATION CONTACT:

Vernon S. Carter at (202) 622-6060 or Linda S. F. Marshall at (202) 622-6090 (not toll-free numbers).

SUPPLEMENTARY INFORMATION:

Background

The correction notice that is the subject of this document is under sections 401(a), 401(a)(4), 401(a)(9), 401(k), 402, 414(s), 415, 416, 457, and 924 of the Internal Revenue Code.

Need for Correction

As published, final regulations (T.D. 9319) contain an error that may prove to be misleading and is in need of clarification.

Correction of Publication

Accordingly, the publication of the final regulations (T.D. 9319), which was the subject of FR Doc. E7-5750, is corrected as follows:

On page 16883, column 2, in the preamble, under the paragraph heading “C. Determination of High-3 Average Compensation”, first line from the bottom of the last paragraph of that heading, the language “participant in rehired.” is corrected to read “participant is rehired.”

LaNita Van Dyke,
Chief, Publications and Regulations Branch,
Legal Processing Division,
Associate Chief Counsel
(Procedure and Administration).

Note

(Filed by the Office of the Federal Register on May 22, 2007, 8:45 a.m., and published in the issue of the Federal Register for May 23, 2007, 72 F.R. 28854)


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