403(b) Pre-Approved Plan Program - Key Provisions
Revenue Procedure 2013-22 contains details of the 403(b) pre-approved plan program and the procedures to apply for an opinion or advisory letter.
An employer that adopts a 403(b) pre-approved plan generally has assurance that its plan document complies with IRC Section 403(b). Please note that the IRS doesn’t intend to establish a determination letter program for individually designed 403(b) plans at this time.
Mandatory plan provisions
Revenue Procedure 2013-22 lists mandatory provisions for all 403(b) pre-approved plans, and additional required provisions for 403(b) prototype plans and for 403(b)(9) plans.
To draft 403(b) pre-approved plans, sponsors can use:
- Section 403(b) Pre-approved Plans Sample Plan Provisions and Information Package
- Revenue Procedure 2007-71 - sample plan language for public school 403(b) plans
403(b) pre-approved plan sponsor’s duties
Generally, a pre-approved plan sponsor must:
- keep a written record of the eligible employers who adopted its plan and if requested by IRS, provide their names, addresses and EINs (this requirement doesn't apply to a church-related organization sponsoring a pre-approved plan 403(b)(9) retirement income account); and
- keep the plan approved by:
- amending the plan for law changes;
- applying for a new opinion or advisory letter when required;
- informing about and providing each adopting employer all restated plans, amendments, and opinion or advisory letters; and
- complying with all required notice procedures.
Scope of an opinion or advisory letter
IRS will issue a favorable opinion or advisory letter to a pre-approved 403(b) plan if the submitted plan meets the requirements of IRC Section 403(b). A favorable opinion or advisory letter won’t cover whether the plan is subject to, or satisfies, any ERISA requirements, any investment arrangement terms or other documents incorporated by reference.
Application procedures
See Apply for an Opinion or Advisory Letter - Pre-Approved 403(b) Plans.
Additional resources