The regulations establish enrolled retirement plan agents as individuals who may practice before the IRS.
Thus, effective immediately, enrolled retirement plan agents and applicants to become enrolled retirement plan agents are not required to have a PTIN to apply for enrollment or renew enrollment.
The IRS also provides that:" A recognized firm is a partnership, professional corporation, sole proprietorship, or any other association, other than a law firm or certified public accounting firm, that has one or more employees lawfully engaged in practice before the IRS and that is 80 percent or a greater percent owned by one or more attorneys, certified public accountants, enrolled agents, enrolled actuaries or enrolled retirement plan agents
authorized to practice before the IRS under sections 10.
6) Treasury Circular 230, Regulations Governing the Practice of Attorneys Certified Public Accountants, Enrolled Agents, Enrolled Actuaries, Enrolled Retirement Plan Agents
, and Appraisers Before the Internal Revenue Service (31 CER.
This phrase currently encompasses activities of practitioners such as attorneys, CPAs, enrolled agents, enrolled actuaries, and enrolled retirement plan agents.
Presently, attorneys, CPAs, enrolled agents, enrolled actuaries, and enrolled retirement plan agents would be exempted from the additional competency testing and education-related requirements.
5, prescribes the applicable procedures for becoming a registered tax return preparer, which are generally consistent with the procedures currently used for enrolled agents and enrolled retirement plan agents
Enrolled retirement plan agents will also be permitted to represent taxpayers in connection with 5300 and 5500 series forms, which are filed by retirement plans and plan sponsors, but not regarding actuarial forms or schedules.
The final regulations set forth the procedures for enrollment and renewal of enrollment for both enrolled agents and enrolled retirement plan agents (Circular 230 [section][section]10.