Form 5307

Form 5307

An application filed with the IRS requesting a determination of whether a master and prototype or volume submitter plan qualifies as a defined benefit or defined contribution plan for tax purposes. It is also used to request the determination of the tax status of any trust related to an M&S or VS plan.
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However, currently, sponsors may make some changes to a pre-approved volume submitter plan, then file a Form 5307 and obtain an advisory letter that the plan complies in form.
Form 5307, Application for Determination for Adopters of Master or Prototype or Volume Submitter Plans
Copies of Form 5300, used for custom designed plans, and Form 5307, used for master or prototype plans (see below), can be found at http://pro.
If the plan is intended to satisfy a design-based or nondesign-based safe harbor, or if the applicant is not electing to receive a determination with respect to any of the general tests and is not electing to receive a determination with respect to the average benefit test, the fees range from $125 for Form 5307, Application for Determination for Adopters of Master or Prototype, Regional Prototype or Volume Submitter Plans, or Form 6406, Short Form Application for Determination for Amendment of Employee Benefit Plan, to $700 for Form 5300, Application for Determination for Employee Benefit Plan, or Form 5303, Application for Determination for Collectively Bargained Plan.
IRS also announced in a News Release (IR-90-78) dated May 10, 1990, that IRS software is available at no charge that will computer-generate Form 5307 and a special version of Form 8717, User Fee for Employee Plan Determination Letter Request.