GM 12-018

IRS Extends Comment Period and Changes Date for Hearing on Guidance to Clarify Governmental Status of Tribal Retirement Plans

On February 3, 2012, the Internal Revenue Service (IRS) published a notice in the FEDERAL REGISTER announcing that the public hearing previously scheduled for 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 has now been moved to July 10, 2012. The notice is attached.

The deadline for submitting outlines of topics to be discussed at the hearing was previously February 6, 2012, and that deadline has been extended to June 18, 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.