By Mark Smith and Jamey Medlin
IRS Notice 2012-6, to be published on January 17, 2012, extends and expands the transition relief provided under Rev. Rul. 2011-1 and Rev. Rul. 2008-40 for certain retirement plans that qualify under the Puerto Rico Internal Revenue Code and group trusts holding investments by such Puerto Rico-qualified plans. Specifically, Notice 2012-6:
The IRS also requests comments regarding whether eligibility for participation in a group trust should be extended to other employee plans exempt under IRC section 501 or a similar rule. Comments are due by April 16, 2012.If you have any questions about this Legal Alert, please feel free to contact any of the attorneys listed below or the Sutherland attorney with whom you regularly work.
© 2012 Sutherland Asbill & Brennan LLP. All Rights Reserved.This communication is for general informational purposes only and is not intended to constitute legal advice or a recommendedcourse of action in any given situation. This communication is not intended to be, and should not be, relied upon by the recipient inmaking decisions of a legal nature with respect to the issues discussed herein. The recipient is encouraged to consult independentcounsel before making any decisions or taking any action concerning the matters in this communication. This communication doesnot create an attorney-client relationship between Sutherland and the recipient.
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