IRS determination 200450049: Pension funding waiver request closed after payment

Plain-English summary

A pension plan sponsor had requested a waiver of its minimum funding requirement under § 412(d). Its representative later reported that the required contribution for the plan year had been paid on time. The IRS therefore stopped considering the waiver request and closed its file. This letter does not grant or deny a funding waiver.

Ruling snapshot

• Question: What happened to the pending pension minimum funding waiver request after the required contribution was paid?
• Outcome: Other; the IRS closed the request without deciding it.
• Key authorities: IRC § 412(d); ERISA § 303.

Full text (IRS public release)

Significant Index No. 0412.06-00 200450049

DEPARTMENT OF THE TREASURY
INTERNAL REVENUE SERVICE
WASHINGTON, D.C. 20224

TAX EXEMPT AND
GOVERNMENT ENTITIES
DIVISION

SEP 16 2004

In re:

In your letter dated December 5, 2003, you requested a waiver of the minimum funding standard for the plan year ending [illegible] for the above- named pension plan under section 412(d) of the Internal Revenue Code (the “Code’”) and section 303 of the Employee Retirement Income Security Act of 1974 (ERISA). In a letter dated September 10, 2004, [illegible], an authorized representative listed on the power of attorney, stated that the minimum funding contribution for the plan year ending [illegible] has been timely made.

Therefore, we are no longer considering your request for a waiver of the minimum funding standard for the above-named pension plan and are closing our file on your request. We have sent a copy of this letter to the Employee Plans

Classification Manager in [illegible],
pursuant to a power of attorney (Form 2848) on file with this Office. If you

have any questions concerning this matter, please contact [illegible].

Sincerely,

James E. Holland, Jr., Manager
Employee Plans Technical