2 ms·
Many organizations in law enforcement have explicit programs to do exactly that. Here is one from the IRS: https://www.irs.gov/retirement-plans/determination-op
by hn_throwaway_99 3y ago
Many organizations in law enforcement have explicit programs to do exactly that. Here is one from the IRS: https://www.irs.gov/retirement-plans/determination-opinion-and-advisory-letter-for-retirement-plans-scope-and-benefit-of-a-favorable-determination-opinion-or-advisory-letter https://www.irs.gov/retirement-plans/determination-opinion-a...
Basically, the rules for whether a retirement plan meets the qualifications for favorable tax treatment are highly complex, so a plan sponsor can ask the IRS to determine if the structure of the plan fits the rules by asking for a "Favorable Determination Letter". This seems to me highly analogous to what crypto exchanges wanted from the SEC.
- lcnPylGDnU4H9OF 3y agoPerhaps this is nitpicking too much but now I wonder on the point of obligation. Is this IRS function required per some law or other mandate? Of course, it seems best that a regulating body is clear about their regulations. It seems weird that’s even in contention, to be honest. But I do wonder about an obligation to do so.