GM 12-014

IRS Sets Date for Hearing on Guidance to Clarify Governmental Status of Tribal Retirement Plans

On January 23, 2012, the Internal Revenue Service (IRS) published a notice in the FEDERAL REGISTER announcing that a public hearing will be held on June 5, 2012, on draft regulations which are intended to clarify what constitutes “essential government functions” and “commercial activities” with regard to determining whether a tribal government’s retirement plan qualifies for treatment as a government plan under Section 414(d) of the Internal Revenue Code. The notice is attached.

The deadline for submitting outlines of topics to be discussed at the hearing is February 6, 2012. Those who wish to provide oral comments during the hearing will be allocated ten minutes. For further information on the IRS’s draft regulations on tribal government retirement plans please see our General Memorandum 11-132 (November 14, 2011).

Please let us know if we may provide additional information on the Internal Revenue Service’s draft regulations or assistance preparing comments.