Ezel / IRS Rulings / 200910051

CCA 200910051: The current IRA custodian should sign the limitations extension

Number
200910051
Outcome
Advice
Document type
Chief Counsel Advice
IRS subject
Tax Matters Partner; Notice to Partners of Proceedings; Extension by Agreement
Topics
Procedure, penalties, and administration
Code sections
§ 408, § 6223
Ruling dated
January 22, 2009
Publicly released
March 6, 2009
Source
View Official PDF

Apply this to your situation

This page covers legal advice the IRS Office of Chief Counsel wrote for IRS staff, issued in 2009, which can't be cited as precedent. Ask about your situation and see what the current Code and IRS guidance say, with citations.

Currency note: this determination was released in 2009
Statutory amendments, regulation changes, court decisions, or later IRS guidance may have changed the analysis since then. Treat this page as historical context, not current tax advice. Verify current law before relying on any specific rule, threshold, or position mentioned here.
Not precedent. Under 26 U.S.C. § 6110(k)(3), this written determination may not be used or cited as precedent. It is advice from the IRS Office of Chief Counsel to IRS personnel on the facts they presented, and identifying details were redacted by the IRS before release. The official IRS release (linked on this page as a PDF) is the authoritative source.
About this page: The plain-English summary and ruling snapshot below were written by Ezel based on the official IRS release. The full text is the IRS's own document.
View official IRS release (PDF)

Plain-English summary

Chief Counsel advised that the new IRA custodian should sign the agreement extending the assessment period. Section 408 treats the IRA partners, including the tax matters partner, as trusts and the custodian bank as trustee. The current custodian therefore had authority to sign for the existing trust, while the former custodian had no authority for any tax year. Notices of the beginning of the administrative proceeding should be mailed both to the addresses on Schedules K-1 and to the trustees' current addresses.

Ruling snapshot

  • Question: Who should sign the limitations extension for the IRA partners, and where should proceeding notices be sent?
  • Outcome: Advice given: the current custodian should sign, and notices should go to both K-1 and current trustee addresses.
  • Key authorities: IRC §§ 408(a)(2) and 6223(c); Treas. Reg. § 301.6223(c)-1(f).

Full text (IRS public release)

ID: CCA_2009012208403537 Number: 200910051
Release Date: 3/6/2009
Office: -------------
UILC: 6231.07-00, 6223.00-00, 6229.02- 00

From: --------------------
Sent: Thursday, January 22, 2009 8:40:38 AM
To: ----------------------
Cc: ------------
Subject: RE: TEFRA - who should sign consent to extend statute

The new custodian should sign the statute extension since it is treated as the current trustee authorized to sign documents on behalf of the existing trust. The IRA partners, including the TMP, are treated as trusts under section 408 with the custodian bank treated as the trustee. See I.R.C. 408(a)(2). The old custodian has no current power to sign any documents on behalf of the IRA for any tax year.

The NBAP's should be mailed to both the Schedule K-1 addresses and the current addresses of the trustees. I.R.C. 6223(c) and Treas. Reg. 301.6223(c)-1(f).

--------------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------

What does the Code say today, for your facts?

This advice was written for IRS staff and cannot be cited. Ezel checks the current Internal Revenue Code and IRS guidance against your situation, with citations.

Opens in Ezel Pro.

  • Checks the law as it stands today, not only this page
  • Cites every source it relies on, so you can verify it
  • Chat, drafting and research in one workspace