Bulletin No. 2022–47
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HIGHLIGHTS
OF THIS ISSUE
Bulletin No. 2022–47
November 21, 2022
These synopses are intended only as aids to the reader in
identifying the subject matter covered. They may not be
relied upon as authoritative interpretations.
EMPLOYEE PLANS
Rev. Proc. 2022-40, page 487.
Rev. Proc. 2022-40 modifies Rev. Proc. 2016-37,
2016-29 IRB 136, which, in part, provides the circumstances under which a plan sponsor may submit a
determination letter application to the Internal Revenue
Service with respect to a qualified individually designed
plan, to permit the submission of determination letter
applications for section 403(b) individually designed
plans. This revenue procedure also (1) incorporates
modifications of Rev. Proc. 2016-37 set forth in Rev.
Proc. 2019-20, 2019-20 IRB 1182, relating to the
submission of determination letter applications for a
determination with respect to qualified merged plans,
(2) clarifies and modifies the provisions of Rev. Proc.
2019-39, 2019-42 IRB 945, that relate to the remedial amendment period for section 403(b) individually
designed plan form defects first occurring after June
30, 2020, (3) extends the expiration of the remedial amendment period for new qualified individually
designed plans, (4) modifies the circumstances under
which a plan is considered to have been issued an initial plan determination, and (5) modifies the scope of
review of qualified individually designed plans submitted under the determination letter program.
Rev. Rul. 2022-21, page 468.
Section 995 - Taxation of DISC Income to Shareholders. 2022 Base Period T-Bill Rate. The “base period
T-bill rate” for the period ending September 30, 2022
is published as required by section 995(f) of the Internal
Revenue Code.
INCOME TAX
Notice 2022-56, page 480.
Section 45W, as added by the IRA, provides a credit for
purchasing and placing in service qualified commercial
clean vehicles during a taxable year. The amount of the
credit shall be the lesser of 15 percent of the basis
of such vehicle (30 percent in the case of a vehicle
not powered by a gasoline or diesel internal combustion engine), or the incremental cost of such vehicle,
as defined in § 45W(b)(2). The amount of the credit
shall not exceed $7,500 in the case of a vehicle which
has a gross vehicle weight rating of less than 14,000
pounds, and $40,000 for all other vehicles. Section
30C provides a credit for the cost of qualified alternative fuel vehicle refueling property placed in service by
the taxpayer during the taxable year. Section 30C(a)
allows a credit in an amount equal to 30 percent (6
percent in the case of property of a character subject
to depreciation) of the cost of any qualified alternative
fuel vehicle refueling property placed in service by the
taxpayer during the taxable year. The IRA increased the
limitation of the credit from $30,000 to $100,000 in
§ 30C(b).
Announcement 2022-22, page 497.
This announcement contains a correction to Notice
2022-41, 2022-43 I.R.B. 304 (Oct. 24, 2022), which
contains a typographical error in the “GUIDANCE” section. This announcement corrects that error. Notice
2022-41 corrected.
Notice 2022-57, page 482.
This notice requests comments on general as well as
specific questions pertaining to issues arising under
§ 45Q due to changes made by Public Law 117-169,
136 Stat. 1818 (August 16, 2022), commonly known
as the Inflation Reduction Act od 2022 (IRA), to help to
Finding Lists begin on page ii.
inform development of future guidance implementing
those changes.
Notice 2022-58, page 483.
Following enactment of Public Law 117-169, 136
Stat. 1818 (August 16, 2022), commonly known as
the Inflation Reduction Act of 2022 (IRA), this notice
requests comments related to the clean hydrogen and
clean fuel provisions under §§ 45V and 45Z of the Internal Revenue Code. Comments received in response to
this notice will help to inform development of guidance
implementing §§ 45V and 45Z.
The IRS Mission
Provide America’s taxpayers top-quality service by helping
them understand and meet their tax responsibilities and
enforce the law with integrity and fairness to all.
Introduction
The Internal Revenue Bulletin is the authoritative instrument
of the Commissioner of Internal Revenue for announcing official rulings and procedures of the Internal Revenue Service
and for publishing Treasury Decisions, Executive Orders, Tax
Conventions, legislation, court decisions, and other items of
general interest. It is published weekly.
It is the policy of the Service to publish in the Bulletin all substantive rulings necessary to promote a uniform application
of the tax laws, including all rulings that supersede, revoke,
modify, or amend any of those previously published in the
Bulletin. All published rulings apply retroactively unless otherwise indicated. Procedures relating solely to matters of internal management are not published; however, statements of
internal practices and procedures that affect the rights and
duties of taxpayers are published.
Revenue rulings represent the conclusions of the Service
on the application of the law to the pivotal facts stated in
the revenue ruling. In those based on positions taken in rulings to taxpayers or technical advice to Service field offices,
identifying details and information of a confidential nature are
deleted to prevent unwarranted invasions of privacy and to
comply with statutory requirements.
Rulings and procedures reported in the Bulletin do not have the
force and effect of Treasury Department Regulations, but they
may be used as precedents. Unpublished rulings will not be
relied on, used, or cited as precedents by Service personnel in
the disposition of other cases. In applying published rulings and
procedures, the effect of subsequent legislation, regulations,
court decisions, rulings, and procedures must be considered,
and Service personnel and others concerned are cautioned
against reaching the same conclusions in other cases unless
the facts and circumstances are substantially the same.
The Bulletin is divided into four parts as follows:
Part I.—1986 Code.
This part includes rulings and decisions based on provisions
of the Internal Revenue Code of 1986.
Part II.—Treaties and Tax Legislation.
This part is divided into two subparts as follows: Subpart A,
Tax Conventions and Other Related Items, and Subpart B,
Legislation and Related Committee Reports.
Part III.—Administrative, Procedural, and Miscellaneous.
To the extent practicable, pertinent cross references to these
subjects are contained in the other Parts and Subparts. Also
included in this part are Bank Secrecy Act Administrative
Rulings. Bank Secrecy Act Administrative Rulings are issued
by the Department of the Treasury’s Office of the Assistant
Secretary (Enforcement).
Part IV.—Items of General Interest.
This part includes notices of proposed rulemakings, disbarment and suspension lists, and announcements.
The last Bulletin for each month includes a cumulative index
for the matters published during the preceding months. These
monthly indexes are cumulated on a semiannual basis, and are
published in the last Bulletin of each semiannual period.
The contents of this publication are not copyrighted and may be reprinted freely. A citation of the Internal Revenue Bulletin as the source would be appropriate.
November 21, 2022
Bulletin No. 2022–47
Part I
Section 995.—Taxation
of DISC Income to
Shareholders
2022 Base Period T-Bill Rate. The “base period
T-bill rate” for the period ending September 30,
2022, is published as required by section 995(f) of
the Internal Revenue Code.
Rev. Rul. 2022-21
Section 995(f)(1) of the Internal Revenue Code provides that a shareholder of
a domestic international sales corporation
(“DISC”) shall pay interest for each taxable year in an amount equal to the product of the “shareholder’s DISC-related
deferred tax liability” for the year (as
defined in section 995(f)(2)) and the “base
period T-bill rate.” Under section 995(f)
(4), the base period T-bill rate is “the
annual rate of interest determined by the
Secretary to be equivalent to the average
of the 1-year constant maturity Treasury
yields, as published by the Board of Governors of the Federal Reserve System, for
the 1-year period ending on September
30 of the calendar year ending with (or
of the most recent calendar year ending
before) the close of the taxable year of the
shareholder.”
The base period T-bill rate for the
period ending September 30, 2022, is 1.71
percent.
Pursuant to section 6622 of the Internal Revenue Code, interest must be compounded daily. The table below provides
factors for compounding the 2022 base
period T-bill rate daily for any number
of days in the shareholder’s taxable year
(including for a 52-53 week taxable year).
To compute the amount of the interest
charge for the shareholder’s taxable year,
multiply the amount of the shareholder’s
DISC-related deferred tax liability for that
year by the base period T-bill rate factor
corresponding to the number of days in
the shareholder’s taxable year for which
the interest charge is being computed.
Generally, one would use the factor for
365 days. One would use a different factor
only if the shareholder’s taxable year for
which the interest charge is being determined is a short taxable year, if the shareholder uses a 52-53 week taxable year, or
if the shareholder’s taxable year is a leap
year.
For the base period T-bill rates for periods ending in prior years, see Rev. Rul.
2021-22, 2021-47 I.R.B. 726; Rev. Rul.
2020-25, 2020-48 I.R.B. 1109; Rev. Rul.
2019-27, 2019-51 I.R.B. 1378; Rev. Rul.
2018-31, 2018-50 I.R.B. 848; Rev. Rul.
2017-23, 2017-49 I.R.B. 546; and Rev.
Rul. 2017-01, 2017-03 I.R.B. 377.
DRAFTING INFORMATION
The principal author of this revenue
ruling is Jacob H. Larson of the Office of
Associate Chief Counsel (International).
For further information regarding the revenue ruling, contact Mr. Larson at (202)
317-3800 (not a toll-free number).
ANNUAL RATE (1.71%), COMPOUNDED DAILY
DAYS
FACTOR
1
0.000046849
2
0.000093701
3
0.000140555
4
0.000187410
5
0.000234269
November 21, 2022
6
7
8
9
10
0.000281129
0.000327991
0.000374856
0.000421723
0.000468592
11
12
13
14
15
0.000515463
0.000562337
0.000609212
0.000656090
0.000702970
468
Bulletin No. 2022–47
ANNUAL RATE (1.71%), COMPOUNDED DAILY
DAYS
FACTOR
16
0.000749852
17
0.000796737
18
0.000843624
19
0.000890512
20
0.000937403
Bulletin No. 2022–47
21
22
23
24
25
0.000984297
0.001031192
0.001078090
0.001124990
0.001171892
26
27
28
29
30
0.001218796
0.001265702
0.001312611
0.001359522
0.001406435
31
32
33
34
35
0.001453350
0.001500267
0.001547187
0.001594109
0.001641033
36
37
38
39
40
0.001687959
0.001734887
0.001781818
0.001828751
0.001875686
41
42
43
44
45
0.001922623
0.001969562
0.002016504
0.002063448
0.002110394
46
47
48
49
50
0.002157342
0.002204292
0.002251245
0.002298199
0.002345156
469
November 21, 2022
ANNUAL RATE (1.71%), COMPOUNDED DAILY
DAYS
FACTOR
51
0.002392116
52
0.002439077
53
0.002486041
54
0.002533006
55
0.002579974
November 21, 2022
56
57
58
59
60
0.002626945
0.002673917
0.002720892
0.002767868
0.002814847
61
62
63
64
65
0.002861829
0.002908812
0.002955797
0.003002785
0.003049775
66
67
68
69
70
0.003096767
0.003143762
0.003190758
0.003237757
0.003284758
71
72
73
74
75
0.003331761
0.003378767
0.003425774
0.003472784
0.003519796
76
77
78
79
80
0.003566811
0.003613827
0.003660846
0.003707866
0.003754889
81
82
83
84
85
0.003801915
0.003848942
0.003895972
0.003943004
0.003990038
470
Bulletin No. 2022–47
ANNUAL RATE (1.71%), COMPOUNDED DAILY
DAYS
FACTOR
86
0.004037074
87
0.004084112
88
0.004131153
89
0.004178196
90
0.004225241
Bulletin No. 2022–47
91
92
93
94
95
0.004272288
0.004319338
0.004366389
0.004413443
0.004460499
96
97
98
99
100
0.004507558
0.004554618
0.004601681
0.004648746
0.004695813
101
102
103
104
105
0.004742882
0.004789954
0.004837027
0.004884103
0.004931181
106
107
108
109
110
0.004978262
0.005025344
0.005072429
0.005119516
0.005166605
111
112
113
114
115
0.005213696
0.005260790
0.005307886
0.005354984
0.005402084
116
117
118
119
120
0.005449186
0.005496291
0.005543398
0.005590507
0.005637618
471
November 21, 2022
ANNUAL RATE (1.71%), COMPOUNDED DAILY
DAYS
FACTOR
121
0.005684731
122
0.005731847
123
0.005778965
124
0.005826085
125
0.005873207
November 21, 2022
126
127
128
129
130
0.005920332
0.005967458
0.006014587
0.006061718
0.006108852
131
132
133
134
135
0.006155987
0.006203125
0.006250265
0.006297407
0.006344551
136
137
138
139
140
0.006391698
0.006438847
0.006485998
0.006533151
0.006580306
141
142
143
144
145
0.006627464
0.006674624
0.006721786
0.006768950
0.006816116
146
147
148
149
150
0.006863285
0.006910456
0.006957629
0.007004804
0.007051982
151
152
153
154
155
0.007099161
0.007146343
0.007193527
0.007240714
0.007287902
472
Bulletin No. 2022–47
ANNUAL RATE (1.71%), COMPOUNDED DAILY
DAYS
FACTOR
156
0.007335093
157
0.007382286
158
0.007429481
159
0.007476678
160
0.007523878
Bulletin No. 2022–47
161
162
163
164
165
0.007571080
0.007618284
0.007665490
0.007712699
0.007759909
166
167
168
169
170
0.007807122
0.007854337
0.007901554
0.007948774
0.007995996
171
172
173
174
175
0.008043220
0.008090446
0.008137674
0.008184905
0.008232137
176
177
178
179
180
0.008279372
0.008326610
0.008373849
0.008421091
0.008468334
181
182
183
184
185
0.008515580
0.008562829
0.008610079
0.008657332
0.008704587
186
187
188
189
190
0.008751844
0.008799103
0.008846365
0.008893629
0.008940894
473
November 21, 2022
ANNUAL RATE (1.71%), COMPOUNDED DAILY
DAYS
FACTOR
191
0.008988163
192
0.009035433
193
0.009082706
194
0.009129981
195
0.009177258
November 21, 2022
196
197
198
199
200
0.009224537
0.009271818
0.009319102
0.009366388
0.009413676
201
202
203
204
205
0.009460966
0.009508259
0.009555554
0.009602851
0.009650150
206
207
208
209
210
0.009697451
0.009744755
0.009792061
0.009839369
0.009886679
211
212
213
214
215
0.009933992
0.009981306
0.010028623
0.010075942
0.010123264
216
217
218
219
220
0.010170587
0.010217913
0.010265241
0.010312571
0.010359904
221
222
223
224
225
0.010407239
0.010454575
0.010501915
0.010549256
0.010596599
474
Bulletin No. 2022–47
ANNUAL RATE (1.71%), COMPOUNDED DAILY
DAYS
FACTOR
226
0.010643945
227
0.010691293
228
0.010738643
229
0.010785996
230
0.010833350
Bulletin No. 2022–47
231
232
233
234
235
0.010880707
0.010928066
0.010975428
0.011022791
0.011070157
236
237
238
239
240
0.011117525
0.011164895
0.011212267
0.011259642
0.011307019
241
242
243
244
245
0.011354398
0.011401779
0.011449163
0.011496548
0.011543936
246
247
248
249
250
0.011591326
0.011638719
0.011686113
0.011733510
0.011780909
251
252
253
254
255
0.011828310
0.011875714
0.011923119
0.011970527
0.012017937
256
257
258
259
260
0.012065350
0.012112764
0.012160181
0.012207600
0.012255021
475
November 21, 2022
ANNUAL RATE (1.71%), COMPOUNDED DAILY
DAYS
FACTOR
261
0.012302445
262
0.012349871
263
0.012397298
264
0.012444729
265
0.012492161
November 21, 2022
266
267
268
269
270
0.012539596
0.012587032
0.012634471
0.012681913
0.012729356
271
272
273
274
275
0.012776802
0.012824250
0.012871700
0.012919152
0.012966607
276
277
278
279
280
0.013014063
0.013061522
0.013108984
0.013156447
0.013203913
281
282
283
284
285
0.013251381
0.013298851
0.013346323
0.013393798
0.013441275
286
287
288
289
290
0.013488754
0.013536235
0.013583718
0.013631204
0.013678692
291
292
293
294
295
0.013726182
0.013773674
0.013821169
0.013868666
0.013916165
476
Bulletin No. 2022–47
ANNUAL RATE (1.71%), COMPOUNDED DAILY
DAYS
FACTOR
296
0.013963666
297
0.014011170
298
0.014058675
299
0.014106183
300
0.014153694
Bulletin No. 2022–47
301
302
303
304
305
0.014201206
0.014248721
0.014296238
0.014343757
0.014391278
306
307
308
309
310
0.014438801
0.014486327
0.014533855
0.014581385
0.014628918
311
312
313
314
315
0.014676453
0.014723989
0.014771529
0.014819070
0.014866613
316
317
318
319
320
0.014914159
0.014961707
0.015009258
0.015056810
0.015104365
321
322
323
324
325
0.015151922
0.015199481
0.015247042
0.015294606
0.015342172
326
327
328
329
330
0.015389740
0.015437310
0.015484883
0.015532457
0.015580034
477
November 21, 2022
ANNUAL RATE (1.71%), COMPOUNDED DAILY
DAYS
FACTOR
331
0.015627614
332
0.015675195
333
0.015722779
334
0.015770365
335
0.015817953
November 21, 2022
336
337
338
339
340
0.015865543
0.015913136
0.015960731
0.016008328
0.016055927
341
342
343
344
345
0.016103529
0.016151132
0.016198738
0.016246347
0.016293957
346
347
348
349
350
0.016341570
0.016389185
0.016436802
0.016484421
0.016532043
351
352
353
354
355
0.016579667
0.016627293
0.016674921
0.016722551
0.016770184
356
357
358
359
360
0.016817819
0.016865456
0.016913096
0.016960738
0.017008381
361
362
363
364
365
0.017056028
0.017103676
0.017151327
0.017198979
0.017246634
478
Bulletin No. 2022–47
ANNUAL RATE (1.71%), COMPOUNDED DAILY
DAYS
FACTOR
366
0.017294292
367
0.017341951
368
0.017389613
369
0.017437277
370
0.017484943
371
Bulletin No. 2022–47
0.017532612
479
November 21, 2022
Part III
Request for Comments
on Section 45W Credit for
Qualified Commercial Clean
Vehicles and Section 30C
Alternative Fuel Vehicle
Refueling Property Credit
Notice 2022-56
SECTION 1. PURPOSE
The Department of the Treasury (Treasury Department) and the Internal Revenue
Service (IRS) plan to issue guidance under
§ 45W and § 30C of the Internal Revenue
Code (Code), as amended by §§ 13403 and
13404, respectively, of Public Law 117169, 136 Stat. 1818 (August 16, 2022),
commonly known as the Inflation Reduction Act of 2022 (IRA). This notice requests
general comments on the qualified commercial clean vehicles credit under § 45W
(§ 45W credit) and the amendments to the
alternative fuel vehicle refueling property
credit under § 30C (§ 30C credit), as well
as specific comments described in section
3 of this notice. Comments received in
response to this notice will help to inform
the development of guidance implementing §§ 45W and 30C.
SECTION 2. BACKGROUND
.01 Section 45W, Qualified Commercial Clean Vehicles Credit
Section 13403(a) of the IRA added
new § 45W to the Code, which is effective for vehicles acquired after December
31, 2022, and before January 1, 2033.
A taxpayer can claim a § 45W credit for
purchasing and placing in service a qualified commercial clean vehicle, as defined
in § 45W(c), during the taxable year. The
amount of the § 45W credit is the lesser of
(1) 15 percent of the taxpayer’s basis in the
vehicle (30 percent in the case of a vehicle
not powered by a gasoline or diesel internal
combustion engine), or (2) the incremental cost of the vehicle.1 Under § 45W(b)
(4), the credit is limited to $7,500 in the
case of a vehicle that has a gross vehicle
weight rating of less than 14,000 pounds,
and $40,000 for all other vehicles.
Section 45W(c) defines “qualified commercial clean vehicle” for purposes of the
§ 45W credit.2 Section 45W(d) establishes
special rules for purposes of the § 45W
credit, including the application of basis
reduction, domestic usage, and recapture
rules similar to those under § 30D(f) of
the Code and a rule disallowing a double benefit under § 45W for a taxpayer
claiming a new clean vehicle credit under
§ 30D. Section 45W(e) provides that no
§ 45W credit is allowed with respect to
any vehicle unless the taxpayer includes
the vehicle identification number (VIN)
of such vehicle on the tax return for the
taxable year. Section 45W(f) grants the
Secretary of the Treasury or her delegate
(Secretary) authority to issue regulations
or other guidance to carry out the purposes
of § 45W, including regulations or other
guidance relating to determination of the
incremental cost of any qualified commercial clean vehicle.
.02 Section 30C, Alternative Fuel Vehicle Refueling Property Credit
Section 30C was originally enacted
by § 1342(a) of the Energy Policy Act of
2005, Public Law 109-58, 119 Stat. 1049
(Aug. 8, 2005), to provide a credit for the
cost of qualified alternative fuel vehicle
refueling property. Section 30C has been
amended several times since its enactment, most recently by § 13404 of the IRA
effective with respect to qualified alternative fuel vehicle refueling property placed
in service after December 31, 2022, and
on or before December 31, 2032.
With respect to such qualified alternative fuel vehicle refueling property,
the amount of the § 30C credit is equal
to 30 percent (6 percent in the case of
property of a character subject to depreciation) of the cost of such property. The
§ 30C credit with respect to any single
item of qualified alternative fuel vehicle
refueling property is limited to $100,000
in the case of any such item of property
of a character subject to an allowance
for depreciation, and $1,000 in any other
case. For purposes of the § 30C credit,
§ 30C(c) defines the term “qualified
alternative fuel vehicle refueling property” (1) by making certain modifications
to the term “qualified clean-fuel vehicle
refueling property” as defined in former
§ 179A of the Code (providing a deduction for clean-fuel vehicles and certain
refueling property) as in effect prior to its
repeal, (2) adding bidirectional charging
equipment to that modified definition,
and (3) requiring such property to be
located in an eligible census tract, as
defined in § 30C(c)(3), which is either a
low-income community as described in
§ 45D(e) or not an urban area.3
Section 45W(b)(2) provides that the incremental cost of any qualified commercial clean vehicle is an amount equal to the excess of the purchase price for such vehicle over the purchase price
of a comparable vehicle. Section 45W(b)(3) defines “comparable vehicle” to mean any vehicle that is powered solely by a gasoline or diesel internal combustion engine and is comparable
in size and use to such vehicle.
2
Under § 45W(c), a “qualified commercial clean vehicle” is defined as any vehicle of a character subject to the allowance for depreciation that: (1) meets the requirement under § 30D(d)(1)(C)
of being made by a qualified manufacturer and is acquired for use or lease by the taxpayer and not for resale, (2) either-- (A) meets the requirement under § 30D(d)(1)(D) of being treated as
a motor vehicle for purposes of title II of the Clean Air Act and is manufactured primarily for use on public streets, roads, and highways (not including a vehicle operated exclusively on a rail
or rails), or (B) is mobile machinery, as defined in § 4053(8) (including vehicles that are not designed to perform a function of transporting a load over the public highways), and (3) either-(A) is propelled to a significant extent by an electric motor which draws electricity from a battery that has a capacity of not less than 15 kilowatt hours (or, in the case of a vehicle that has a
gross vehicle weight rating of less than 14,000 pounds, 7 kilowatt hours) and is capable of being recharged from an external source of electricity, or (B) is a motor vehicle that satisfies the
requirements under § 30B(b)(3)(A) and (B) for being a new qualified fuel cell motor vehicle.
3
Section 30(e)(6) provides that references in § 30C to § 179A are references to former § 179A as in effect immediately before its repeal by Public Law 113-295, div. A, title II, §221(a)(34)
(A), 128 Stat. 4042 (December 19, 2014). Section 30C(c)(1) generally defines the term “qualified alternative fuel vehicle refueling property” to have the same meaning as the term “qualified
clean-fuel vehicle refueling property” would have under former § 179A, if: (A) former § 179A(d)(1) (limiting deduction to property of a character subject to the allowance for depreciation)
did not apply to property installed on property which is used as the principal residence (within the meaning of § 121 of the Code) of the taxpayer, and (B) only the following were treated as
clean-burning fuels for purposes of former § 179A(d): (i) Any fuel at least 85 percent of the volume of which consists of one or more of the following: ethanol, natural gas, compressed natural
gas, liquified natural gas, liquefied petroleum gas, or hydrogen; (ii) Any mixture-- (I) which consists of two or more of the following: biodiesel (as defined in § 40A(d)(1) of the Code), diesel
fuel (as defined in § 4083(a)(3) of the Code), or kerosene, and (II) at least 20 percent of the volume of which consists of biodiesel (as so defined) determined without regard to any kerosene
in such mixture; (iii) Electricity; (iv) Any transportation fuel (as defined in § 45Z(d)(5) of the Code).
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Section 30C(d) addresses the application of § 30C with other credits. Section
30C(e) provides special rules for purposes of § 30C. Section 30C(f) provides
a special rule for electric charging stations for certain vehicles with two or
three wheels for purposes of the § 30C
credit. Section 30C(g)(1) provides that the
amount of § 30C credit for any qualified
alternative fuel vehicle refueling property of a character subject to an allowance
for depreciation that is part of a qualified
alternative fuel vehicle refueling project
is multiplied by 5 if certain prevailing
wage and apprenticeship requirements
are met.4 Section 30C(g)(4) grants the
Secretary authority to issue regulations or
other guidance to administer the wage and
apprenticeship requirements of § 30C(g),
and § 30C(h) authorizes the Secretary to
prescribe such regulations as necessary to
carry out the provisions of § 30C.
SECTION 3. REQUEST FOR
COMMENTS
The Treasury Department and the
IRS request comments on questions arising under § 45W and the amendments to
§ 30C that should be addressed in guidance. Commenters are encouraged to
specify the issues on which guidance is
needed most quickly as well as the most
important issues on which guidance is
needed. In addition to general comments,
the Treasury Department and the IRS
request comments that address the following specific questions:
.01 Credit for Qualified Commercial
Clean Vehicles (§ 45W)
(1) What factors should be considered,
and what data sources should be relied on,
to determine whether a vehicle is “comparable in size and use” for purposes of the
comparable vehicle definition in § 45W(b)
(3) to determine incremental cost?
(2) What, if any, guidance is required to
clarify the definition of mobile machinery
for the purposes of § 45W(c)?
(3) Section 45W(d)(1) provides that
rules similar to the rules under § 30D(f)
without regard to the income limitations
in § 30D(f)(10) or the manufacturer’s
suggested retail price limitations in
§ 30D(f)(11), apply for purposes of section 45W. The applicable rules in § 30D(f)
are basis reduction, no double benefit,
property used outside the United States
not qualified, recapture, election not to
take the credit, interaction with air quality
and motor vehicle safety standards, and
one credit per vehicle. What aspects of
§ 30D(f) should apply to the § 45W credit
without modification and what aspects
should be modified?
(4) Section 45W(d)(3) provides that
no § 45W credit is allowed with respect
to any vehicle for which a credit was
allowed under § 30D. What, if any, guidance is required to ensure that the allowance of credit under § 30D precludes the
allowance of a credit under § 45W for the
same vehicle?
(5) The definition of qualified commercial clean vehicle in § 45W(c)(1) contains
several requirements including that the
vehicle be made by a qualified manufacturer as required by § 30D(d)(1)(C), as
amended by the IRA. What, if any, guidance is necessary for qualified manufacturers to comply with the requirements of
§ 45W(c)(1)?
(6) Section 45W(c)(3)(A) requires that
a qualified commercial clean vehicle must
either (i) satisfy the requirements under
§ 30B(b)(3)(A) and (B) for being a new
qualified fuel cell motor vehicle, or (ii)
be propelled to a significant extent by
an electric motor which draws electricity from a battery that has a capacity of
not less than 15 kilowatt hours (or, in the
case of a vehicle which has a gross vehicle
weight rating of less than 14,000 pounds,
7 kilowatt hours) and is capable of being
recharged from an external source of electricity. How should “significant extent” be
defined for this purpose?
(7) Is guidance necessary to clarify the
meaning of the term “property of a character subject to an allowance for depreciation” for purposes of § 45W(c)(4)?
(8) Please provide comments on any
other terms in § 45W that may require
definition or additional guidance.
.02 Alternative Fuel Vehicle Refueling
Property Credit (§ 30C)
(1) Is guidance necessary to clarify the
meaning of the term “property of a character subject to an allowance for depreciation” for purposes of § 30C?
(2) Section 30C(b) provides that the
credit is allowed with respect to any single item of qualified alternative fuel vehicle refueling property. How should “single
item” be defined for this purpose?
(3) Section 30C(c)(2) provides that
property does not fail to be qualified
alternative fuel vehicle refueling property
solely because such property is capable
of charging the battery of a motor vehicle
propelled by electricity, and allows discharging electricity from such battery to an
electric load external to such motor vehicle. What factors and definitions should
be considered in developing guidance for
qualified alternative fuel vehicle refueling
property that is also bidirectional charging
equipment?
(4) Section 30C(e)(3) requires qualified
alternative fuel vehicle refueling property
to be placed in service in an eligible census tract. What guidance, if any, is needed
to clarify the definition of eligible census
tract?
(5) Section 30C(e)(5) provides that
recapture rules similar to the rules of former § 179A(e)(4) apply for purposes of
§ 30C. What aspects of §§ 30C and former
179A should apply without modification
for this purpose and what aspects should
be modified?
(6) Please provide comments on any
other terms in, or topics related to, § 30C
that may require definition or guidance.
SECTION 4. SUBMISSION OF
COMMENTS
.01 Written comments should be submitted by December 3, 2022. Consideration will be given, however, to any written comment submitted after December 3,
2022, if such consideration will not delay
the issuance of guidance. The subject line
for the comments should include a reference to Notice 2022-56. Comments may
be submitted in one of two ways:
(1) Electronically via the Federal
eRulemaking Portal at www.regulations.
These requirements are satisfied if the construction of the facility begins prior to 60 days after the Treasury Department and IRS publish guidance with respect to these requirements, or
the requirements are satisfied. Similar provisions were added by the IRA to several other Code provisions. See Notice 2022-51 requesting comments on prevailing wage and apprenticeship
requirements. General comments pertaining to the prevailing wage and apprenticeship requirements should be submitted in response to Notice 2022-51.
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November 21, 2022
gov (type IRS-2022-56 in the search field
on the regulations.gov homepage to find
this notice and submit comments).
(2) Alternatively, by mail to: Internal Revenue Service, CC:PA:LPD:PR
(Notice 2022-56, Room 5203, P.O. Box
7604, Ben Franklin Station, Washington,
D.C., 20044.
.02 All commenters are strongly
encouraged to submit comments electronically. The Treasury Department and the
IRS will publish for public availability
any comment submitted electronically
and on paper to its public docket on www.
regulations.gov.
SECTION 5. 60-DAY RULE
NOT EFFECTUATED FOR
THE PREVAILING WAGE AND
APPRENTICESHIP REQUIREMENT
For purposes of §§ 30C, 45, 45L, 45Q,
45U, 45V, 45Y, 45Z, 48, 48C, 48E, and
179D of the Code, the publication of this
notice requesting comments is not the
publication of guidance with respect to
the prevailing wage and apprenticeship
requirements, and it is not relevant in
determining whether the prevailing wage
and apprenticeship requirements are satisfied under such sections. The Treasury
Department and the IRS will explicitly
identify when guidance with respect to
the prevailing wage and apprenticeship
requirements that is relevant for determining whether such requirements have been
satisfied for purposes of §§ 30C, 45, 45L,
45Q, 45U, 45V, 45Y, 45Z, 48, 48C, 48E,
and 179D is published.
SECTION 6. DRAFTING
INFORMATION
The principal author of this notice
is the Office of Associate Chief Counsel (Passthroughs & Special Industries).
However, other personnel from the Treasury Department and the IRS participated
in its development. For further information regarding this notice, call the energy
security guidance contact number at (202)
317-5254 (not a toll-free number).
Request for Comments on
the Credit for Carbon Oxide
Sequestration
Notice 2022-57
SECTION 1. PURPOSE
The Department of the Treasury (Treasury Department) and the Internal Revenue Service (IRS) plan to issue guidance
under § 45Q of the Internal Revenue Code
(Code), as amended by § 13104 of Public
Law 117-169, 136 Stat. 1818 (August 16,
2022), commonly known as the Inflation
Reduction Act of 2022 (IRA). This notice
requests general comments on the amendments to the carbon oxide sequestration
credit under § 45Q (§ 45Q credit), as well
as specific questions described in section
3 of this notice. Comments received in
response to this notice will help to inform
the development of guidance implementing the IRA amendments to § 45Q.
SECTION 2. BACKGROUND
Section 45Q was enacted by § 115
of the Energy Improvement and Extension Act of 2008, Division B of Pub. L.
No. 110-343, 122 Stat. 3765 (October 3,
2008), to provide a credit for the sequestration of carbon dioxide. Section 45Q
was amended significantly by § 41119 of
the Bipartisan Budget Act of 2018, Pub. L.
No. 115-123 (February 9, 2018), to apply
to carbon oxides, and most recently by
§ 13104 of the IRA.
Generally, the IRA modifies § 45Q by
adjusting credit amounts;1 extending the
deadline for beginning construction of a
qualified facility from January 1, 2026 to
January 1, 2033; broadening the definition
of a “qualified facility” by reducing the
required carbon capture thresholds; modifying the rules applicable to direct air
capture (DAC) facilities and electric generating units; and providing a new election to restart the § 45Q credit period for
qualified facilities at which carbon capture equipment is placed in service in an
area subsequently affected by a federally
declared disaster (as defined by § 165(i)
(5)(A) of the Code).
SECTION 3. REQUEST FOR
COMMENTS
The Treasury Department and the IRS
request comments on questions arising from
the IRA amendments to § 45Q that should
be addressed in guidance. Commenters are
encouraged to specify the issues on which
guidance is needed most quickly as well
as the most important issues on which
guidance is needed. In addition to general
comments, the Treasury Department and
the IRS request comments that address the
following specific questions:
.01 Direct Air Capture. The IRA modifies the applicable dollar amounts under
§ 45Q(b)(1) for purposes of § 45Q(a)(3)
and (a)(4) for qualified carbon oxide captured by DAC facilities.
(1) What types of existing and emerging technologies potentially meet the definition of a DAC facility?
(2) What methodologies could taxpayers use to best determine and verify the
amount of qualified carbon oxides captured by a DAC facility?
.02 Definitions. The IRA modifies the
definition of a “qualified facility” under
§ 45Q(d) and related definitions under
§ 45Q(e).
(1) What clarifications are needed
regarding key terms and requirements
including original planning and design,
capture design capacity, principal electric
generating unit, designed annual carbon
oxide production, average annual carbon
oxide production, and actual versus potential electric output from an applicable
electric generating unit?
(2) What clarifications are needed
regarding the definition of a qualified
facility under § 45Q(d)?
.03 Records and Recordkeeping.
(1) What factors should the Treasury
Department and the IRS consider in determining how a taxpayer can demonstrate
that it satisfies the original planning and
design requirement under § 45Q(d)(1)
(B)?
Other amendments made by the IRA to § 45Q increase the credit amount if certain prevailing wage and apprenticeship requirements are satisfied. The IRA also provides an election for
certain taxpayers to receive an elective payment or to transfer the credit under § 45Q. See Notice 2022-51 requesting comments on prevailing wage and apprenticeship requirements and
Notice 2022-50 requesting comments on the elective payment and credit transfer elections. General comments pertaining to the prevailing wage and apprenticeship requirements should be
submitted in response to Notice 2022-51. General comments pertaining to elective payment and credit transferability provisions should be submitted in response to Notice 2022-50.
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(2) What records or documentation
do taxpayers currently maintain or could
they create to substantiate the required
capture amounts under § 45Q(d)(2)(B)?
Could facility-level data reported to the
EPA Greenhouse Gas Reporting Program
(Suppliers of Carbon Dioxide source category; 40 CFR Part 98, subpart PP) be used
by taxpayers to substantiate the required
capture amounts?
(3) Which source or sources of information should the Treasury Department and
the IRS consider in establishing the capacity factor and baseline carbon oxide production requirements under § 45Q(e)(2)?
(4) Using technology currently available to industry, how could project
developers that incorporate carbon capture equipment into electric generating
units demonstrate that the carbon capture
equipment meets the 75 percent baseline
carbon oxide requirement under § 45Q(d)
(2)(B)(ii)?
(5) What records or documentation
do taxpayers currently maintain or could
they create to substantiate captured carbon
oxide within a qualified electricity generating facility that contains multiple electric generating units?
(6) What clarifications are needed
regarding the treatment of modifications
to a qualified electricity generating facility that result in a significant increase or
decrease in carbon oxide production and
are chargeable to capital account?
.04 Credit Reduction for Tax-Exempt Bonds. Section 45Q(f)(8) includes
a reduction for the § 45Q credit when
tax-exempt bonds are used in the financing of the facility using rules similar to the
rule under § 45(b)(3). What, if any, additional guidance would be helpful in determining how to calculate this reduction?
.05 Specific Technologies. What clarifications, if any, are needed regarding
the classification of industry-specific or
emerging technologies that qualify for the
§ 45Q credit?
.06 Please provide comments on any
other topics related to § 45Q credit that
may require guidance.
will be given, however, to any written
comment submitted after December 3,
2022, if such consideration will not delay
the issuance of guidance. The subject line
for the comments should include a reference to Notice 2022-57. Comments may
be submitted in one of two ways:
(1) Electronically via the Federal
eRulemaking Portal at www.regulations.
gov (type IRS-2022-0057 in the search
field on the regulations.gov homepage to
find this notice and submit comments).
(2) Alternatively, by mail to: Internal Revenue Service, CC:PA:LPD:PR
(Notice 2022-57), Room 5203, P.O. Box
7604, Ben Franklin Station, Washington,
DC 20044.
.02 All commenters are strongly
encouraged to submit comments electronically. The Treasury Department and the
IRS will publish for public availability
any comment submitted electronically, or
on paper, to its public docket on www.regulations.gov.
SECTION 4. ADDRESSES TO SEND
COMMENTS
The principal author of this notice
is the Office of Associate Chief Counsel (Passthroughs & Special Industries).
However, other personnel from the Treasury Department and the IRS participated
01 Written comments should be submitted by December 3, 2022. Consideration
Bulletin No. 2022–47
SECTION 5. 60-DAY RULE
NOT EFFECTUATED FOR
THE PREVAILING WAGE AND
APPRENTICESHIP REQUIREMENTS
For purposes of §§ 30C, 45, 45L, 45Q,
45U, 45V, 45Y, 45Z, 48, 48C, 48E, and
179D of the Code, the publication of this
notice requesting comments is not the
publication of guidance with respect to
the prevailing wage and apprenticeship
requirements, and it is not relevant in
determining whether the prevailing wage
and apprenticeship requirements are satisfied under such sections. The Treasury
Department and the IRS will explicitly
identify when guidance with respect to
the prevailing wage and apprenticeship
requirements that is relevant for determining whether such requirements have been
satisfied for purposes of §§ 30C, 45, 45L,
45Q, 45U, 45V, 45Y, 45Z, 48, 48C, 48E,
and 179D is published.
SECTION 6. DRAFTING
INFORMATION
483
in its development. For further information regarding this notice, call the energy
security guidance contact number at (202)
317-5254 (not a toll-free number).
Request for Comments on
Credits for Clean Hydrogen
and Clean Fuel Production
Notice 2022-58
SECTION 1. PURPOSE
The Department of the Treasury (Treasury Department) and the Internal Revenue Service (IRS) plan to issue guidance
under new § 45V and new § 45Z of the
Internal Revenue Code (Code), as added
to the Code by §§ 13204 and 13704,
respectively, of Public Law 117-169, 136
Stat. 1818 (August 16, 2022), commonly
known as the Inflation Reduction Act of
2022 (IRA). This notice requests general
comments on the clean hydrogen production credit under § 45V of the Code (§ 45V
credit) and the clean fuel production credit
under § 45Z (§ 45Z credit), as well as
specific comments described in section
3 of this notice. Comments received in
response to this notice will help to inform
the development of guidance implementing § 45V (and associated incentives for
clean hydrogen production in §§ 45 and
48) and § 45Z.
SECTION 2. BACKGROUND
.01 Credits for Clean Hydrogen.
The § 45V credit is allowable for qualified clean hydrogen produced after 2022
at a qualified clean hydrogen production
facility during the 10-year period beginning on the date the facility is originally
placed in service. The § 45V credit is
calculated by multiplying the applicable amount by the kilograms of qualified
clean hydrogen produced based on the
lifecycle greenhouse gas emissions rate
that results from the production of qualified clean hydrogen. For facilities that
do not meet certain prevailing wage and
apprenticeship requirements, the applicable amount is determined by multiplying $0.60 per kilogram by an applicable
November 21, 2022
percentage that ranges from 20 percent
to 100 percent depending on the lifecycle
greenhouse gas emissions rate that results
from the production of the qualified clean
hydrogen. Therefore, for these facilities
the applicable amount ranges from $0.12
to $0.60 per kilogram of qualified clean
hydrogen produced. If the qualified clean
hydrogen facility meets the prevailing
wage and apprenticeship requirements,
the credit amount is multiplied by five,
resulting in an applicable amount that
ranges from $0.60 to $3.00 per kilogram
of clean hydrogen produced.1 The applicable amount is adjusted annually for
inflation.
If a lifecycle greenhouse gas emissions
rate has not been determined for purposes
of § 45V for hydrogen produced by a taxpayer, then the taxpayer may file a petition for the Secretary of the Treasury or
her delegate (Secretary) to determine the
emissions rate of the hydrogen.
Qualified clean hydrogen is defined
in § 45V to include hydrogen that is produced through a process that results in a
lifecycle greenhouse gas emissions rate
of not greater than 4 kilograms of carbon
dioxide equivalent (CO2-e) per kilogram
of hydrogen. To be eligible for the § 45V
credit, the qualified clean hydrogen must
be produced in the United States within
the meaning of § 638(1) of the Code (or
a U.S. possession within the meaning of
§ 638(2)) in the ordinary course of the
taxpayer’s trade or business for sale or
use. Additionally, the production and sale
or use by the taxpayer must be verified
by an unrelated party. A taxpayer may not
claim a § 45V credit for qualified clean
hydrogen produced at any facility that
includes carbon capture equipment for
which a credit is allowed to any taxpayer
under § 45Q for the taxable year or any
prior taxable year.
Section 13204(b) of the IRA amended
§ 45(e) relating to the credit for producing
electricity from certain renewable sources
(§ 45 credit) to provide a special exception
to the requirement that electricity be sold
to an unrelated party to be eligible for the
§ 45 credit. Electricity produced by a taxpayer after 2022 may be treated as sold by
the taxpayer to an unrelated person during
the taxable year if the electricity is used
during the taxable year by the taxpayer
or a related person at a qualified clean
hydrogen production facility to produce
qualified clean hydrogen. This production
and use must be verified by an unrelated
third party. Section 13204(c) of the IRA
also amended § 48 relating to the energy
investment tax credit (§ 48 credit) to allow
a taxpayer that owns a qualified clean
hydrogen production facility placed in
service after December 31, 2022, to make
an election to claim the § 48 credit in lieu
of the § 45 credit.
.02 Section 45Z, Clean Fuel Production Credit.
The § 45Z credit is equal to the product of (1) the applicable amount per gallon
(or gallon equivalent) with respect to any
transportation fuel that is (a) produced by
the taxpayer at a qualified facility, and (b)
sold by the taxpayer in a manner described
in § 45Z(a)(4) during the taxable year, and
(2) the emissions factor for such fuel (as
determined under § 45Z(b)).
Section 45Z(a)(2) defines the “applicable amount” for any transportation fuel
produced at a qualified facility as (A) 20
cents in the case of a qualified facility
which does not satisfy certain prevailing
wage and apprenticeship requirements, or
(B) $1.00 in the case of a qualified facility that satisfies such requirements.2 Section 45Z(a)(3) provides that the amounts
listed in § 45Z(a)(2) are increased to 35
cents and $1.75, respectively in the case
of a transportation fuel that is sustainable
aviation fuel. The applicable amounts will
be adjusted annually for inflation. Section
45Z applies to transportation fuel produced and sold after December 31, 2024,
and before January 1, 2028.
SECTION 3. REQUEST FOR
COMMENTS
The Treasury Department and the IRS
request comments on questions arising
under § 45V (and the associated clean
hydrogen production incentives in §§ 45
and 48) and under § 45Z that should be
addressed in guidance. Commenters are
encouraged to specify the issues on which
guidance is needed most quickly as well
as the most important issues on which
guidance is needed. In addition to general
comments, the Treasury Department and
the IRS request comments that address the
following specific questions:
.01 Credit for Production of Clean
Hydrogen.
(1) Clean Hydrogen. Section 45V provides a definition of the term “qualified
clean hydrogen.” What, if any, guidance
is needed to clarify the definition of qualified clean hydrogen?
(a) Section 45V defines “lifecycle
greenhouse gas emissions” to “only
include emissions through the point
of production (well-to-gate).”3 Which
specific steps and emissions should be
included within the well-to-gate system
boundary for clean hydrogen production
from various resources?
(b)(i) How should lifecycle greenhouse
gas emissions be allocated to co-products from the clean hydrogen production
process? For example, a clean hydrogen
producer may valorize steam, electricity,
elemental carbon, or oxygen produced
alongside clean hydrogen.
(ii) How should emissions be allocated
to the co-products (for example, system
expansion, energy-based approach, massbased approach)?
(iii) What considerations support the
recommended approaches to these issues?
(c)(i) How should lifecycle greenhouse gas emissions be allocated to clean
hydrogen that is a by-product of industrial
The higher credit amount also applies if the construction of the facility begins prior to the date that is 60 days after the Secretary publishes guidance with respect to the prevailing wage and
apprenticeships requirements of § 45V(e)(3)(A) and (4), unless the facility is altered or repaired after that date. The IRA also provides an election for a taxpayer to receive a direct payment
or to transfer the credit. Similar provisions were added by the IRA to several other Code provisions. See Notice 2022-51 requesting comments on prevailing wage and apprenticeship requirements and Notice 2022-50 requesting comments on direct payment and transferability issues for general applicability to these several Code sections.
2
These prevailing wage and apprenticeship requirements are provided in § 45Z(f)(6) and (f)(7). Similar provisions were added by the IRA to several other Code sections. See Notice 202251 requesting comments on prevailing wage and apprenticeship requirements. General comments pertaining to the prevailing wage and apprenticeship requirements should be submitted in
response to Notice 2022-51.
3
The well-to-gate system boundary for hydrogen production includes emissions associated with feedstock growth, gathering, and/or extraction; feedstock delivery to a hydrogen production
facility; conversion of feedstock to hydrogen at a production facility; generation of electricity consumed by a hydrogen production facility (including feedstock extraction for electricity
generation, feedstock delivery, and the electricity generation process itself); and sequestration of carbon dioxide generated by a hydrogen production facility.
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processes, such as in chlor-alkali production or petrochemical cracking?
(ii) How is byproduct hydrogen from
these processes typically handled (for
example, venting, flaring, burning onsite
for heat and power)?
(d) If a facility is producing qualified
clean hydrogen during part of the taxable
year, and also produces hydrogen that is
not qualified clean hydrogen during other
parts of the taxable year (for example,
due to an emissions rate of greater than
4 kilograms of CO2-e per kilogram of
hydrogen), should the facility be eligible
to claim the § 45V credit only for the qualified clean hydrogen it produces, or should
it be restricted from claiming the § 45V
credit entirely for that taxable year?
(e) How should qualified clean hydrogen production processes be required to
verify the delivery of energy inputs that
would be required to meet the estimated
lifecycle greenhouse gas emissions rate
as determined using the GREET model or
other tools if used to supplement GREET?
(i) How might clean hydrogen production facilities verify the production of
qualified clean hydrogen using other specific energy sources?
(ii) What granularity of time matching
(that is, annual, hourly, or other) of energy
inputs used in the qualified clean hydrogen
production process should be required?
(2) Alignment with the Clean Hydrogen Production Standard. On September 22, 2022, the Department of Energy
(DOE) released draft guidance for a Clean
Hydrogen Production Standard (CHPS)
developed to meet the requirements of
§ 40315 of the Infrastructure Investment
and Jobs Act (IIJA), Public Law 117-58,
135 Stat. 429 (November 15, 2021).4 The
CHPS draft guidance establishes a target
lifecycle greenhouse gas emissions rate
for clean hydrogen of no greater than 4.0
kilograms CO2-e per kilogram of hydrogen, which is the same lifecycle greenhouse gas emissions limit required by the
§ 45V credit. For purposes of the § 45V
credit, what should be the definition or
specific boundaries of the well-to-gate
analysis?
(3) Provisional Emissions Rate. For
hydrogen production processes for which
4
a lifecycle greenhouse gas emissions rate
has not been determined for purposes of
§ 45V, a taxpayer may file a petition with
the Secretary for determination of the lifecycle greenhouse gas emissions rate of the
hydrogen the taxpayer produces.
(a) At what stage in the production process should a taxpayer be able to file such
a petition for a provisional emissions rate?
(b) What criteria should be considered
by the Secretary in making a determination regarding the provisional emissions
rate?
(4) Recordkeeping and Reporting.
(a) What documentation or substantiation do taxpayers maintain or could they
create to demonstrate the lifecycle greenhouse gas emissions rate resulting from a
clean hydrogen production process?
(b) What technologies or methodologies should be required for monitoring the
lifecycle greenhouse gas emissions rate
resulting from the clean hydrogen production process?
(c) What technologies or accounting
systems should be required for taxpayers to demonstrate sources of electricity
supply?
(d) What procedures or standards
should be required to verify the production (including lifecycle greenhouse gas
emissions), sale and/or use of clean hydrogen for the § 45V credit, § 45 credit, and
§ 48 credit?
(e) If a taxpayer serves as both the
clean hydrogen producer and the clean
hydrogen user, rather than selling to an
intermediary third party, what verification process should be put in place (for
example, amount of clean hydrogen utilized and guarantee of emissions or use of
clean electricity) to demonstrate that the
production of clean hydrogen meets the
requirements for the § 45V credit?
(f) Should indirect book accounting
factors that reduce a taxpayer’s effective
greenhouse gas emissions (also known as
a book and claim system), including, but
not limited to, renewable energy credits,
power purchase agreements, renewable
thermal credits, or biogas credits be considered when calculating the § 45V credit?
(g) If indirect book accounting factors that reduce a taxpayer’s
effective greenhouse gas emissions,
such as zero-emission credits or power
purchase agreements for clean energy,
are considered in calculating the § 45V
credit, what considerations (such as time,
location, and vintage) should be included
in determining the greenhouse gas emissions rate of these book accounting
factors?
(5) Unrelated Parties.
(a) What certifications, professional
licenses, or other qualifications, if any,
should be required for an unrelated party
to verify the production and sale or use of
clean hydrogen for the § 45V credit, § 45
credit, and § 48 credit?
(b) What criteria or procedures, if any,
should the Treasury Department and the
IRS establish to avoid conflicts of interest
and ensure the independence and rigor of
verification by unrelated parties?
(c) What existing industry standards, if
any, should the Treasury Department and
the IRS consider for the verification of
production and sale or use of clean hydrogen for the § 45V credit, § 45 credit, and
§ 48 credit?
(6) Coordinating Rules.
(a) Application of certain § 45 rules.
(i) Section 45V(d)(3) includes a reduction for the § 45V credit when tax-exempt bonds are used in the financing of
the facility using rules similar to the rule
under § 45(b)(3)). What, if any, additional
guidance would be helpful in determining
how to calculate this reduction?
(ii) Section 45V(d)(1) states that the
rules for facilities owned by more than
one taxpayer are similar to the rules of
§ 45(e)(3). How should production from
a qualified facility with more than one
person holding an ownership interest be
allocated?
(b) Coordination with § 48.
(i) What factors should the Treasury
Department and the IRS consider when
providing guidance on the key definitions
and procedures that will be used to administer the election to treat clean hydrogen
production facilities as energy property
for purposes of the § 48 credit?
(ii) What factors should the Treasury
Department and the IRS consider when
providing guidance on whether a facility
https://www.hydrogen.energy.gov/pdfs/clean-hydrogen-production-standard.pdf
Bulletin No. 2022–47
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November 21, 2022
is “designed and reasonably expected to
produce qualified clean hydrogen?”
(c) Coordination with § 45Q. Are there
any circumstances in which a single facility
with multiple unrelated process trains could
qualify for both the § 45V credit and the
§ 45Q credit notwithstanding the prohibition
in § 45V(d)(2) preventing any § 45V credit
with respect to any qualified clean hydrogen
produced at a facility that includes carbon
capture equipment for which a § 45Q credit
has been allowed to any taxpayer?
(7) Please provide comments on any
other topics related to § 45V credit that
may require guidance.
.02 Clean Fuel Production Credit
(§ 45Z).
(1) Sale Definition.
(a) What factors should the Treasury
Department and the IRS consider in determining whether an unrelated person purchases transportation fuel for use in a trade
or business for purposes of § 45Z(a)(4)(B)?
(b) What factors should the Treasury
Department and the IRS consider in determining whether fuel is sold at retail for
purposes of § 45Z(a)(4)(C)?
(2) Establishment of Emissions Rate for
Sustainable Aviation Fuel. Section 45Z(b)
(1)(B)(iii) provides that the lifecycle greenhouse gas emissions of sustainable aviation fuel shall be determined in accordance
with the Carbon Offsetting and Reduction
Scheme for International Aviation or “any
similar methodology which satisfies the
criteria under § 211(o)(1)(H) of the Clean
Air Act (42 U.S.C. 7545(o)(1)(H)), as
in effect on the date of enactment of this
section.” What methodologies should the
Treasury Department and IRS consider for
the lifecycle greenhouse gas emissions of
sustainable aviation fuel for the purposes of
§ 45Z(b)(1)(B)(iii)(II)?
(3) Provisional Emissions Rates. Section 45Z(b)(1)(D) allows the taxpayer
to file a petition with the Secretary for
determination of the emissions rate for
a transportation fuel which has not been
established.
(a) At what stage in the production
process should a taxpayer be able to file a
petition for a provisional emissions rate?
(b) What criteria should be considered
by the Secretary to determine the provisional emissions rate?
(4) Special Rules. Section 45Z(f)
(1) provides several requirements for a
November 21, 2022
taxpayer to claim the § 45Z credit, including for sustainable aviation fuel a certification from an unrelated party demonstrating compliance with the general
requirements of the Carbon Offsetting and
Reduction Scheme for International Aviation (CORSIA) or in the case of any similar methodology, as defined in § 45Z(b)(1)
(B)(iii)(II), requirements that are similar
to CORSIA’s requirements. With respect
to this certification requirement for sustainable aviation fuel, what certification
options and parties should be considered
to support supply chain traceability and
information transmission requirements?
(5) Coordinating Rules. Section 45Z(f)
(4) states that under regulations prescribed
by the Secretary, rules similar to the rules
of § 52(d) apply in the case of estates and
trusts. Section 45Z(f)(5) states that rules
similar to § 45Y(g)(6) apply to patrons of
agricultural cooperatives. Section 45Z(f)
(6)(A) states that rules similar to the rules
of § 45(b)(7) apply for the prevailing wage
requirement. Section 45Z(f)(7) states
that rules similar to the rules of § 45(b)
(8) apply for the apprenticeship requirement. Is the application of the cross-referenced rules for purposes of the § 45Z
credit adequately clear? What aspects of
the cross-referenced rules should apply to
the § 45Z credit without modification and
what aspects should be modified?
(6) Multiple Owners. How should production from a qualifying facility with
more than one person having an ownership interest in such facility be allocated
to such persons for purposes of § 45Z(f)
(2)? Should rules similar to the rules under
§ 45(e)(3) apply for this purpose? If so,
which aspects of § 45(e)(3) should apply
without modification for this purpose and
which aspects should be modified?
(7) Please provide comments on any
other topics related to § 45Z credit that
may require guidance.
a reference to Notice 2022-58. Comments
may be submitted in one of two ways:
(1) Electronically via the Federal
eRulemaking Portal at www.regulations.
gov (type IRS-2022-58 in the search field
on the regulations.gov homepage to find
this notice and submit comments).
(2) Alternatively, by mail to: Internal Revenue Service, CC:PA:LPD:PR
(Notice 2022-58), Room 5203, P.O. Box
7604, Ben Franklin Station, Washington,
DC 20044.
.02 All commenters are strongly
encouraged to submit comments electronically. The Treasury Department and the
IRS will publish for public availability
any comment submitted electronically or
on paper to its public docket on www.regulations.gov.
SECTION 4: SUBMISSION OF
COMMENTS
The principal author of this notice
is the Office of Associate Chief Counsel (Passthroughs & Special Industries).
However, other personnel from the Treasury Department and the IRS participated
in its development. For further information regarding this notice, call the energy
security guidance contact number at (202)
317-5254 (not a toll-free number).
.01 Written comments should be submitted by December 3, 2022. Consideration will be given, however, to any written comment submitted after December
3, 2022, if such consideration will not
delay the issuance of guidance. The subject line for the comments should include
486
SECTION 5. 60-DAY RULE
NOT EFFECTUATED FOR
THE PREVAILING WAGE AND
APPRENTICESHIP REQUIREMENT
For purposes of §§ 30C, 45, 45L, 45Q,
45U, 45V, 45Y, 45Z, 48, 48C, 48E, and
179D of the Code, the publication of this
notice requesting comments is not the
publication of guidance with respect to
the prevailing wage and apprenticeship
requirements, and it is not relevant in
determining whether the prevailing wage
and apprenticeship requirements are satisfied under such sections. The Treasury
Department and the IRS will explicitly
identify when guidance with respect to
the prevailing wage and apprenticeship
requirements that is relevant for determining whether such requirements have been
satisfied for purposes of §§ 30C, 45, 45L,
45Q, 45U, 45V, 45Y, 45Z, 48, 48C, 48E,
and 179D is published.
SECTION 6. DRAFTING
INFORMATION
Bulletin No. 2022–47
26 CFR § 601.201: Rulings and determination letters.
(Also Part I, §§ 401; 1.401(b)-1; 403(b).)
Rev. Proc. 2022-40
Table of Contents
PART I – OVERVIEW
SECTION 1. PURPOSE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 487
SECTION 2. BACKGROUND. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 488
SECTION 3. SUMMARY OF SIGNIFICANT MODIFICATIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 489
SECTION 4. DEFINITIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 490
PART II – INDIVIDUALLY DESIGNED QUALIFIED AND SECTION 403(b) PLANS
SECTION 5. REMEDIAL AMENDMENT PERIOD FOR INDIVIDUALLY DESIGNED QUALIFIED AND
SECTION 403(b) PLANS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 491
SECTION 6. PLAN AMENDMENT DEADLINE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 492
SECTION 7. REQUIRED AMENDMENTS LIST . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 492
SECTION 8. OPERATIONAL COMPLIANCE LIST . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 493
SECTION 9. CIRCUMSTANCES UNDER WHICH A PLAN MAY BE SUBMITTED FOR
A DETERMINATION LETTER . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 493
SECTION 10. SCOPE OF PLAN REVIEW . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 494
SECTION 11. RELIANCE ON DETERMINATION LETTERS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 495
SECTION 12. TIMING OF SUBMISSION OF DETERMINATION LETTER APPLICATIONS FOR
SECTION 403(b) PLANS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 495
SECTION 13. SPECIAL NOTICE AND DISCLOSURE REQUIREMENTS FOR SECTION 403(b) PLANS . . . . . . . . . . 496
PART III – EFFECT ON OTHER DOCUMENTS, EFFECTIVE DATE, PUBLIC COMMENTS,
DRAFTING INFORMATION
SECTION 14. EFFECT ON OTHER DOCUMENTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 496
SECTION 15. EFFECTIVE DATE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 496
SECTION 16. PUBLIC COMMENTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 496
PART I – OVERVIEW
SECTION 1. PURPOSE
.01 This revenue procedure modifies
Rev. Proc. 2016-37, 2016-29 IRB 136,1
which, in part, provides the circumstances
under which a Plan Sponsor may submit a
determination letter application to the Internal Revenue Service (IRS) with respect to
a qualified individually designed plan, to
permit the submission of determination letter applications for section 403(b) individually designed plans. Under this revenue
procedure, a Plan Sponsor that maintains a
section 403(b) individually designed plan
will be permitted to submit a determination
letter application for an initial plan determination, for a determination upon plan
termination, and in certain other circumstances identified by the IRS in guidance
published in the Internal Revenue Bulletin
(IRB). The earliest date a Plan Sponsor
will be permitted to submit a determination
letter application for a section 403(b) individually designed plan is June 1, 2023, in
accordance with section 12 of this revenue
procedure.
.02 This revenue procedure also
(1) incorporates modifications of Rev. Proc.
2016-37 set forth in Rev. Proc. 2019‑20,
2019-20 IRB 1182, relating to the submission of determination letter applications
for a determination with respect to Merged
Plans, (2) clarifies and modifies the provisions of Rev. Proc. 2019-39, 2019-42 IRB
945,2 that relate to the Remedial Amendment Period for section 403(b) individually designed plan Form Defects first
occurring after June 30, 2020, (3) extends
the expiration of the Remedial Amendment Period for new qualified individually
For purposes of this revenue procedure, references to Rev. Proc. 2016-37 are to Rev. Proc. 2016-37, as modified by Rev. Proc. 2017-41, 2017-29 IRB 92, Rev. Proc. 2019-20, 2019-20 IRB
1182, Rev. Proc. 2020-40, 2020-38 IRB 575, and Rev. Proc. 2021-38, 2021-38 IRB 425.
2
For purposes of this revenue procedure, references to Rev. Proc. 2019-39 are to Rev. Proc. 2019-39, as modified by Notice 2020-35, 2020-25 IRB 948, Rev. Proc. 2020-40, and Rev. Proc.
2021-37, 2021-38 IRB 385.
1
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November 21, 2022
designed plans, (4) modifies the circumstances under which a plan is considered
to have been issued an initial plan determination, and (5) modifies the scope of
review of qualified individually designed
plans submitted under the determination
letter program.
.03 This revenue procedure does
not modify or restate the provisions of
Rev. Proc. 2016-37 relating to qualified
pre-approved plans. The Department of
the Treasury (Treasury Department) and
the IRS anticipate updating the provisions
of Rev. Proc. 2016-37 relating to qualified
pre-approved plans in future guidance.3
SECTION 2. BACKGROUND
.01 Qualified individually designed
plans.
(1) Section 401(b) of the Internal Revenue Code (Code) provides a remedial
amendment period4 during which a plan
may be amended retroactively to comply
with the Code’s qualification requirements. Treas. Reg. § 1.401(b)-1 describes
the disqualifying provisions that may be
amended retroactively and the remedial
amendment period during which retroactive amendments may be adopted. The
regulations also grant the Commissioner
of Internal Revenue (Commissioner) the
discretion to designate certain plan provisions as disqualifying provisions and to
extend the remedial amendment period.
(2) Section 7805(b)(8) provides that
the Secretary may prescribe the extent, if
any, to which any ruling (including any
judicial decision or any administrative
determination other than by regulation)
relating to the internal revenue laws shall
be applied without retroactive effect.
(3) Section 1.401(b)-1 provides that a
plan that fails to satisfy the requirements
of section 401(a) solely as a result of a
disqualifying provision defined under
§ 1.401(b)‑1(b) need not be amended to
comply with those requirements until the
last day of the remedial amendment period
with respect to the disqualifying provision, provided the amendment is made
retroactively effective to the beginning of
the remedial amendment period. Under
§ 1.401(b)-1(b)(1), a disqualifying provision includes a provision of a new plan,
the absence of a provision from a new
plan, or an amendment to an existing plan
that causes the plan to fail to satisfy the
requirements of the Code applicable to the
qualification of the plan as of the date the
plan or amendment is first made effective.
Under § 1.401(b)-1(b)(3), a disqualifying
provision includes a plan provision designated, at the Commissioner’s discretion,
as a disqualifying provision that either (a)
results in the failure of the plan to satisfy
the qualification requirements of the Code
by reason of a change in those requirements, or (b) is integral to a qualification
requirement of the Code that has been
changed. For this purpose, § 1.401(b)-1(c)
(1) provides that a disqualifying provision
includes the absence from a plan of a provision required by or, if applicable, integral to the applicable change in the qualification requirements of the Code, if the
plan was in effect on the date the change in
those requirements became effective with
respect to the plan. Under § 1.401(b)-1(c)
(3), the Commissioner may impose limits
and provide additional rules regarding the
amendments that may be made during the
remedial amendment period with respect
to disqualifying provisions described in
§ 1.401(b)-1(b)(3).
(4) For a disqualifying provision of a
new plan described in § 1.401(b)-1(b)(1),
the remedial amendment period begins
on the date the plan is put into effect and,
in the case of a plan maintained by one
employer, ends on the later of (a) the due
date (including extensions) for filing the
employer’s tax return for the taxable year
in which the plan is put into effect or (b)
the last day of the plan year in which
the plan is put into effect. In the case
of a new plan maintained by more than
one employer, the remedial amendment
period ends on the last day of the tenth
month following the last day of the plan
year that includes the date the plan is put
into effect.
(5) For a disqualifying provision that
is an amendment to an existing plan
described in § 1.401(b)-1(b)(1), the
remedial amendment period begins on
the earlier of the date the plan amendment is adopted or put into effect and,
in the case of a plan maintained by one
employer, ends on the later of (a) the due
date (including extensions) for filing the
employer’s tax return for the taxable year
in which the amendment is adopted or
effective (whichever is later) or (b) the last
day of the plan year in which the amendment is adopted or effective (whichever is
later). In the case of an amendment to an
existing plan maintained by more than one
employer, the remedial amendment period
ends on the last day of the tenth month
following the last day of the plan year in
which the amendment is adopted or effective (whichever is later).
(6) For a disqualifying provision
described in § 1.401(b)-1(b)(3), the
remedial amendment period begins on
the date on which the change becomes
effective with respect to the plan or, in
the case of a provision that is integral to
a qualification requirement that has been
changed, unless another time is specified by the Commissioner in revenue
rulings, notices, and other guidance published in the IRB, the first day on which
the plan is operated in accordance with
the provision as amended. In the case
of a plan maintained by one employer,
the remedial amendment period for a
disqualifying provision described in
§ 1.401(b)-1(b)(3) ends on the later of:
(a) the due date (including extensions)
for filing the income tax return for the
employer’s taxable year that includes the
date on which the remedial amendment
period begins; or (b) the last day of the
plan year that includes the date on which
the remedial amendment period begins.
In the case of a plan maintained by more
than one employer the remedial amendment period ends on the last day of the
tenth month following the last day of the
plan year in which the remedial amendment period begins.
This revenue procedure also does not address section 403(b) pre-approved plans. The Treasury Department and the IRS anticipate updating the provisions of Rev. Proc. 2019-39 relating to
section 403(b) pre-approved plans in the future guidance that will update the provisions of Rev. Proc. 2016-37 relating to qualified pre-approved plans.
4
This revenue procedure includes certain defined, capitalized terms, such as Disqualifying Provision and Form Defect. On occasion, these same words were used in prior guidance without
capitalization or with a somewhat different meaning. If this revenue procedure refers to words used in prior guidance under these conditions, those words are not capitalized.
3
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488
Bulletin No. 2022–47
(7) Section 1.401(b)-1(f) provides that
the Commissioner has discretion to extend
the remedial amendment period.
(8) Rev. Proc. 2016-37 provides that,
effective January 1, 2017, a sponsor of
a qualified individually designed plan is
permitted to submit a determination letter
application only for initial plan qualification, for qualification upon plan termination, and in certain other circumstances,
as set forth in guidance published in the
IRB. Rev. Proc. 2016-37 also provides
an extended remedial amendment period
under section 401(b) for qualified individually designed plans and a system of
cyclical remedial amendment periods
under section 401(b) for qualified pre-approved plans.
(9) Rev. Proc. 2019-20 provides for
a permanent, limited expansion of the
determination letter program with respect
to qualified individually designed plans.
As part of this limited expansion, the IRS
accepts determination letter applications
for certain qualified individually designed
merged plans on an ongoing basis.
(10) Rev. Proc. 2022-4, 2022-1 IRB
161, sets forth the types of advice provided
by the Commissioner, Tax Exempt and
Government Entities Division, Employee
Plans Rulings and Agreements Office, and
the procedures for requesting such advice,
including procedures for issuing determination letters (a) on the qualified status
of pension, profit-sharing, stock bonus,
annuity, and employee stock ownership
plans under sections 401, 403(a), 409, and
4975(e)(7), and (b) except with respect to
an adopting employer of a pre-approved
plan requesting a determination letter
under section 12 of Rev. Proc. 2022-4,
on the status for exemption of any related
trusts or custodial accounts under section
501(a).
02 Section 403(b) individually designed
plans. Rev. Proc. 2019-39 sets forth a system of recurring remedial amendment
periods for correcting form defects, first
occurring after June 30, 2020, in section
403(b) plans. Rev. Proc. 2019-39 defines a
form defect as (1) a provision that causes
a plan to fail to satisfy the section 403(b)
requirements, (2) the absence of a provision that causes a plan to fail to satisfy the
section 403(b) requirements, (3) a provision that is integral to a section 403(b)
requirement that has been changed (either
by statute, or in regulations or other guidance published in the IRB), or (4) the
absence from a plan of a provision required
by a change to the section 403(b) requirements (either by statute, or in regulations
or other guidance published in the IRB) or
integral to the change. Rev. Proc. 201939 also sets forth the plan amendment
deadlines for correcting form defects and
for adopting discretionary amendments
to section 403(b) individually designed
plans. Section 7 of Rev. Proc. 2019-39
sets forth a limited extension of the initial
remedial amendment period for section
403(b) individually designed plans.
SECTION 3. SUMMARY OF
SIGNIFICANT MODIFICATIONS
.01 This revenue procedure modifies
Rev. Proc. 2016-37 to permit Plan Sponsors to submit determination letter applications for section 403(b) individually
designed plans. Beginning June 1, 2023,
determination letter applications for section 403(b) individually designed plans
generally may be submitted for an initial
plan determination, for a determination
upon plan termination, and in certain other
circumstances identified by the IRS in
guidance published in the IRB. However,
the date on which an application may first
be submitted for an initial plan determination is staggered over three dates (June
1, 2023, June 1, 2024, and June 1, 2025),
depending on the last digit of the Plan
Sponsor’s employer identification number
(EIN), in accordance with the schedule set
forth in section 12.01.
.02 This revenue procedure modifies
the definition of form defect, as set forth
in Rev. Proc. 2019-39, with respect to a
provision in, or an absence of a provision
from, a section 403(b) plan that is integral
to a change in Section 403(b) Requirements. In addition, this revenue procedure
modifies the structure of the definition
of form defect, as set forth in Rev. Proc.
2019-39. See section 4.01(2).
.03 This revenue procedure incorporates the provisions of Rev. Proc. 201939 relating to the Remedial Amendment
Period for section 403(b) individually
designed plan Form Defects first occurring
after June 30, 2020. See section 5.02(2).
.04 This revenue procedure extends the
expiration of the Remedial Amendment
Period for a Disqualifying Provision with
respect to a provision of a new plan or the
absence of a provision from a new plan to
the last day of the second calendar year
following the calendar year in which the
plan is put into effect.5 See section 5.03(1)
(a).
.05 This revenue procedure extends the
expiration of the Remedial Amendment
Period for a Disqualifying Provision with
respect to a provision of a new governmental plan within the meaning of section
414(d) or the absence of a provision from
such a plan to the later of: (1) the last day
of the second calendar year following
the calendar year in which the plan is put
into effect; or (2) 90 days after the close
of the third regular legislative session of
the legislative body with the authority to
amend the plan that begins after the end
of the plan’s initial plan year.6 See section
5.03(2)(a).
.06 This revenue procedure modifies
the eligibility rules for a Plan Sponsor
to obtain an individual plan determination. Under the revised rules, for example, a Plan Sponsor that maintains a plan
for which a determination letter has been
issued as a result of filing a Form 5307
(Application for Determination for Adopters of Modified Volume Submitter Plans)
is no longer ineligible to submit that plan
for a determination letter for an initial plan
determination on a Form 5300 (Application for Determination for Employee Benefit Plan).7 See section 9.02.
Section 5.05(1) of Rev. Proc. 2016-37 provides that the remedial amendment period for a disqualifying provision with respect to a provision of a new plan or the absence of a provision from
a new plan is extended to the later of: (1) the 15th day of the 10th calendar month after the end of the plan’s initial plan year or (2) the “modified section 401(b) expiration date,” which is
defined in section 5.05(1)(a) and (b) of Rev. Proc. 2016-37.
6
Section 5.06(1) of Rev. Proc. 2016-37 provides that the remedial amendment period for a disqualifying provision with respect to a provision of a new governmental plan within the meaning
of section 414(d) or the absence of a provision from such a plan is extended to the later: of (1) the date determined in section 5.05(1) of Rev. Proc. 2016-37 or (2) 90 days after the close of
the second regular legislative session of the legislative body with the authority to amend the plan that begins after the end of the plan’s initial plan year.
7
Under section 4.03(1) of Rev. Proc. 2016-37, an employer that maintained a plan for which a determination letter had been issued as a result of filing a Form 5307 was not permitted to submit
that plan for a determination letter for initial qualification.
5
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November 21, 2022
.07 This revenue procedure modifies
the scope of the IRS’s review of individually designed plans submitted for a
determination letter. Under the revised
rules, the IRS generally will consider in
its review Qualification Requirements
and Section 403(b) Requirements that are
in effect, or that have been included on a
Required Amendments List, on or before
the last day of the second calendar year
preceding the year in which the determination letter application is submitted. See
section 10.01.
SECTION 4. DEFINITIONS
.01 General definitions.
(1) Disqualifying Provision.
(a) In general. For a qualified plan, the
term “Disqualifying Provision” means:
(i) a provision of a new plan, the
absence of a provision from a new plan,
or an amendment to an existing plan
that causes the plan to fail to satisfy the
requirements of the Code applicable to the
qualification of the plan as of the date the
plan or amendment is first made effective;
(ii) a plan provision that has been designated, pursuant to § 1.401(b)-1(b)(3), by
the Commissioner, in guidance published
in the IRB, as a disqualifying provision by
reason of a change in those requirements;
or
(iii) the absence from a plan of a provision required by (or, if applicable, integral
to) a change in the qualification requirements of the Code.
(b) Designation of Disqualifying Provisions. Pursuant to § 1.401(b)-1(b)(3),
the IRS designates a plan provision as a
Disqualifying Provision if it:
(i) results in the failure of the plan
to satisfy the qualification requirements
of the Code by reason of a change in
those requirements that is effective after
December 31, 2001; or
(ii) is integral to a Disqualifying Provision described in section 4.01(1)(b)(i).
(2) Form Defect. For a section 403(b)
plan, the term “Form Defect” means:
(a) a provision of a new plan, the
absence of a provision from a new plan,
or an amendment to an existing plan that
causes the form of the section 403(b)
plan to fail to satisfy the Section 403(b)
Requirements applicable as of the date the
plan or amendment is first made effective;
(b) a plan provision that:
(i) results in the failure of the form of
the section 403(b) plan to satisfy the Section 403(b) Requirements by reason of a
change in those requirements; or
(ii) is integral to a Form Defect
described in section 4.01(2)(b)(i); or
(c) the absence from a plan of a provision required by (or, if applicable, integral to) a change in the Section 403(b)
Requirements.
(3) Plan Sponsor. The term “Plan
Sponsor” means an employer that sponsors a qualified individually designed plan
for its employees or an eligible employer,
as described in section 403(b)(1)(A), that
sponsors a section 403(b) individually
designed plan for its employees.
(4) Qualification Requirements. The
term “Qualification Requirements” means
the requirements of sections 401(a),
403(a), 409, and 4975(e)(7), including
requirements provided in the Code, and in
regulations or other guidance published in
the IRB.8
(5) Remedial Amendment Period. The
term “Remedial Amendment Period”
means the period during which a Plan
Sponsor maintaining a qualified plan
or section 403(b) plan may correct Disqualifying Provisions or Form Defects
in its plan retroactive to the beginning of
the period. As part of the correction of a
Disqualifying Provision or Form Defect
within the remedial amendment period, a
Plan Sponsor will be considered to have
satisfied the Qualification Requirements
or Section 403(b) Requirements, as applicable, if all provisions of the plan that are
necessary to satisfy those requirements
have been adopted and made effective in
form and operation from the beginning of
the remedial amendment period.
(6) Section 403(b) Requirements. The
term “Section 403(b) Requirements”
means the requirements of section 403(b),
including requirements provided in the
Code, and in regulations or other guidance
published in the IRB.9
.02 Definitions related to Merged Plans.
(1) Date of a Corporate Merger, Acquisition, or Other Similar Business Transaction. The term “Date of a Corporate
Merger, Acquisition, or Other Similar
Business Transaction” means the effective
date of the transaction as evidenced by a
corporate board resolution or written documentation signed and dated by persons
duly authorized to represent the entities
involved.
(2) Date of the Plan Merger. The term
“Date of the Plan Merger” means the
effective date of the Plan Merger as evidenced by (a) a corporate board resolution or written documentation signed and
dated by persons duly authorized to represent the entities involved, or (b) a plan
amendment.
(3) Merged Plan. The term “Merged
Plan” means a plan that results from the
merger or consolidation of two or more
qualified plans into a single qualified individually designed plan pursuant to a Plan
Merger.
(4) Plan Merger. The term “Plan
Merger” means a merger or consolidation, as described in § 1.414(l)-1(b)(2),
that combines two or more qualified plans
maintained by previously Unrelated Entities into a single individually designed
plan, and that occurs in connection with
a corporate merger, acquisition, or other
similar business transaction among Unrelated Entities that each maintained its own
plan or plans prior to the Plan Merger.
(5) Unrelated Entities. The term
“Unrelated Entities” means entities that
are not members of the same controlled
group under section 414(b), the same set
of trades or businesses under common
control under section 414(c), or members
of the same affiliated service group under
section 414(m).
Under this definition, a change in Qualification Requirements includes a statutory, regulatory, or other guidance change that affects a requirement of section 401(a), 403(a), 409, or 4975(e)
(7), without regard to whether the change results in a Disqualifying Provision or merely permits the adoption of a discretionary amendment.
9
Under this definition, a change in Section 403(b) Requirements includes a statutory, regulatory, or other guidance change that affects a requirement of section 403(b), without regard to
whether the change results in a Form Defect or merely permits the adoption of a discretionary amendment.
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PART II – INDIVIDUALLY DESIGNED
QUALIFIED AND SECTION 403(b)
PLANS
SECTION 5. REMEDIAL
AMENDMENT PERIOD FOR
INDIVIDUALLY DESIGNED
QUALIFIED AND SECTION 403(b)
PLANS
.01 In general. The provisions of this
section 5 set forth the Remedial Amendment Period for (1) Disqualifying Provisions in qualified individually designed
plans, and (2) Form Defects first occurring
after June 30, 2020, in section 403(b) individually designed plans.10 A plan for which
a Plan Sponsor does not correct a Disqualifying Provision or Form Defect within
the applicable Remedial Amendment
Period will not be considered to satisfy
the Qualification Requirements or Section
403(b) Requirements, as applicable.
.02 Beginning dates of the Remedial
Amendment Period.
(1) Disqualifying Provisions. Section
1.401(b)-1(d)(1) sets forth the dates on
which the Remedial Amendment Period
begins for Disqualifying Provisions.
Details regarding the beginning dates of
the Remedial Amendment Period are set
forth in sections 2.01(5), (6), and (7) of
this revenue procedure.
(2) Form Defects. Unless another time
is specified by the Commissioner in guidance published in the IRB, the Remedial
Amendment Period for a Form Defect
begins:
(a) in the case of a Form Defect with
respect to a provision of, or absence of a
provision from, a new plan, on the date the
plan is put into effect;
(b) in the case of a Form Defect with
respect to an amendment to an existing plan (other than a Form Defect that
is related to a change in Section 403(b)
Requirements, or that is integral to such a
change, as described in paragraph (c) and
(d), respectively, of this section 5.02(2)),
on the date the plan amendment is adopted
or put into effect, whichever is earlier;
(c) in the case of a Form Defect with
respect to a provision that fails to satisfy the Section 403(b) Requirements by
reason of a change in those requirements,
on the date on which the change effected
by an amendment to the Code or a change
in requirements provided in regulations
or other guidance published in the IRB
became effective with respect to the plan;
or
(d) in the case of a Form Defect with
respect to a provision that is integral to a
Section 403(b) Requirement that has been
changed, on the first day on which the plan
was operated in accordance with such provision, as amended.
.03 Expiration of Remedial Amendment
Period.
(1) Plans that are not governmental plans within the meaning of section
414(d). Except as otherwise provided by
statute or in regulations or other guidance published in the IRB, the Remedial
Amendment Period for Disqualifying
Provisions and Form Defects for plans
that are not governmental plans within
the meaning of section 414(d) expires as
follows:
(a) New plan. The Remedial Amendment Period for a Disqualifying Provision
or Form Defect with respect to a provision
of a new plan or the absence of a provision
from a new plan expires on the last day
of the second calendar year following the
calendar year in which the plan is put into
effect.
(b) Amendment to existing plan. The
Remedial Amendment Period for a Disqualifying Provision or Form Defect with
respect to an amendment to an existing
plan (other than an amendment described
in paragraph (c) of this section 5.03(1))
expires on the last day of the second calendar year following the calendar year in
which the amendment is adopted or effective, whichever is later.
(c) Change in Qualification Requirements or Section 403(b) Requirements.
The Remedial Amendment Period for a
Disqualifying Provision or Form Defect
that arises as a result of a change in Qualification Requirements or Section 403(b)
Requirements, as applicable, expires on
the last day of the second calendar year that
begins after the issuance of the Required
Amendments List (described in section
7) on which the change in Qualification
Requirements or Section 403(b) Requirements appears.
(2) Plans that are governmental plans
within the meaning of section 414(d).
Except as otherwise provided by statute or
in regulations or other guidance published
in the IRB, the Remedial Amendment
Period for Disqualifying Provisions and
Form Defects for plans that are governmental plans within the meaning of section 414(d) expires as follows:
(a) New plan. The Remedial Amendment Period for a Disqualifying Provision
or Form Defect with respect to a provision
of a new governmental plan or the absence
of a provision from a new governmental
plan expires on the later of:
(i) the last day of the second calendar
year following the calendar year in which
the plan is put into effect; or
(ii) 90 days after the close of the third
regular legislative session of the legislative body with the authority to amend the
plan that begins after the end of the plan’s
initial plan year.
(b) Amendment to existing plan. The
Remedial Amendment Period for a Disqualifying Provision or Form Defect with
respect to an amendment to an existing
governmental plan (other than an amendment described in paragraph (c) of this
section 5.03(2)) expires on the later of:
(i) the last day of the second calendar
year following the calendar year in which
the amendment is adopted or effective,
whichever is later; or
(ii) 90 days after the close of the third
regular legislative session of the legislative body with the authority to amend the
plan that begins after the calendar year in
which the amendment is adopted or effective, whichever is later.
(c) Change in Qualification Requirements or Section 403(b) Requirements.
The Remedial Amendment Period for a
Disqualifying Provision or Form Defect
with respect to a governmental plan that
arises as a result of a change in Qualification Requirements or Section 403(b)
Requirements, as applicable, expires on
the later of:
(i) the last day of the second calendar
year that begins after the issuance of the
Required Amendments List on which the
For Remedial Amendment Period rules for form defects first occurring before July 1, 2020, see Rev. Proc. 2013-22, 2013‑18 IRB 985, as clarified by Rev. Proc. 2017-18, 2017‑5 IRB 743,
and as modified by Rev. Proc. 2019-39. A Form Defect as defined in section 4.01(2) of this revenue procedure differs from the definition of a form defect first occurring before July 1, 2020.
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November 21, 2022
change in Qualification Requirements or
Section 403(b) Requirements appears; or
(ii) 90 days after the close of the third
regular legislative session of the legislative body with the authority to amend
the plan that begins on or after the date
of issuance of the Required Amendments
List on which the change in Qualification
Requirements or Section 403(b) Requirements appears.
(3) Terminating plans. Notwithstanding sections 5.03(1) and 5.03(2), the termination of a plan ends the plan’s Remedial
Amendment Period and thus, generally
will shorten the Remedial Amendment
Period for the plan. Accordingly, any retroactive remedial plan amendments or
other required plan amendments for a terminating plan (that is, plan amendments
required to be adopted to reflect Qualification Requirements or Section 403(b)
Requirements that apply as of the date of
termination) must be adopted in connection with the plan termination regardless
of whether the requirements are included
on a Required Amendments List.
(4) Circumstances in which a Disqualifying Provision or Form Defect may not
be corrected retroactively during a Remedial Amendment Period. If it is not possible to amend a plan retroactively during
a Remedial Amendment Period so that all
provisions of the plan that are necessary
to satisfy the Qualification Requirements
or Section 403(b) Requirements related to
a Disqualifying Provision or Form Defect,
as applicable, are made effective in operation for the whole Remedial Amendment
Period, then the Disqualifying Provision
or Form Defect may not be corrected retroactively even if the Plan Sponsor adopts a
retroactive plan amendment that, in form,
appears to satisfy those requirements. A
Plan Sponsor of an individually designed
qualified plan or section 403(b) plan that
cannot be corrected by an amendment
during the applicable Remedial Amendment Period may be able to correct the
Disqualifying Provision or Form Defect
under the Employee Plans Compliance
Resolution System. See Rev. Proc. 202130, 2021-31 IRB 172, or its successors.
SECTION 6. PLAN AMENDMENT
DEADLINE
.01 Required plan amendment. Except
as otherwise provided by statute or in regulations or other guidance published in
the IRB, the plan amendment deadline for
(1) a Disqualifying Provision in a qualified
individually designed plan, or (2) a Form
Defect first occurring after June 30, 2020,
in a section 403(b) individually designed
plan, is the date on which the Remedial
Amendment Period with respect to the
Disqualifying Provision or Form Defect
expires. See sections 5.03(1), (2) and (3)
for the determination of the expiration
of the applicable Remedial Amendment
Period.
.02 Discretionary plan amendment.
With respect to a discretionary amendment (that is, an amendment that is not
made with respect to a Disqualifying Provision or Form Defect), except as otherwise provided by statute or in regulations
or other guidance published in the IRB,
the plan amendment deadline is the date
described in paragraph (1) or (2) of this
section 6.02, as applicable.
(1) Plans that are not governmental plans within the meaning of section
414(d). In the case of a discretionary
amendment to a plan that is not a governmental plan within the meaning of section 414(d), the plan amendment deadline
is the end of the plan year in which the
plan amendment is operationally put into
effect. An amendment is operationally put
into effect when the plan is administered
in a manner consistent with the intended
plan amendment (rather than existing
plan terms). For example, the deadline
for adopting a discretionary amendment
with respect to a calendar year plan that
increases participants’ accrued benefits
and is operationally put into effect during
2023 is December 31, 2023.
(2) Plans that are governmental plans
within the meaning of section 414(d). In
the case of a discretionary amendment to a
governmental plan within the meaning of
section 414(d), the plan amendment deadline is the later of:
(a) the end of the plan year in which
the plan amendment is operationally put
into effect; or
(b) 90 days after the close of the second
regular legislative session of the legislative body with the authority to amend the
plan that begins on or after the date the
plan amendment is operationally put into
effect.
.03 No relief from the requirements of
section 411(d)(6). This revenue procedure
does not provide relief from the requirements of section 411(d)(6) for any plan
amendments made to a qualified plan,
including plan amendments adopted as
a result of changes to the Qualification
Requirements.11 Except to the extent permitted under section 411(d)(6) and the
regulations thereunder, under a statutory
provision, or under other guidance published in the IRB, section 411(d)(6) prohibits a plan amendment that decreases a
participant’s accrued benefits or that has
the effect of eliminating or reducing an
early retirement benefit or retirement-type
subsidy, or eliminating an optional form
of benefit, with respect to benefits attributable to service before the amendment.
However, an amendment that eliminates
or decreases benefits that have not yet
accrued does not violate section 411(d)
(6), provided the amendment is adopted
and effective before the benefits accrue.
SECTION 7. REQUIRED
AMENDMENTS LIST
.01 Required Amendments List to be
published annually. The Treasury Department and the IRS publish an annual
Required Amendments List that applies
to changes in Qualification Requirements
and Section 403(b) Requirements. The
Required Amendments List establishes
the date that the Remedial Amendment
Period expires for changes in Qualification
Requirements and Section 403(b) Requirements set forth on the list, as described in
sections 5.03(1) and 5.03(2).12 See also
section 10, which describes the scope of
review by the IRS of a plan submitted for
a determination letter.
Section 411(d)(6) does not apply to section 403(b) plans. However, parallel rules in section 204(g) of ERISA apply to ERISA-covered section 403(b) plans.
Notices setting forth the Required Amendments Lists can be found on the IRS website at https://www.irs.gov/retirement-plans/required-amendments-list. The most recent Required Amendments List is set forth in Notice 2021-64, 2021-50 IRB 869.
11
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.02 Items included on Required Amendments List. In general, an item will be
included on a Required Amendments
List after guidance with respect to the
item (including any model amendment,
if applicable) has been provided in regulations or other guidance published in
the IRB. However, in the discretion of
the IRS, an item may be included on a
Required Amendments List in other circumstances, such as when a statutory
change is enacted, and it is anticipated that
no guidance related to implementation of
the statutory change will be issued.
SECTION 8. OPERATIONAL
COMPLIANCE LIST
Although a plan may have a delayed
amendment deadline to comply with a
change in plan Qualification Requirements or a change in Section 403(b)
Requirements, the plan must be operated
in compliance with those requirements
from the effective date of the change. To
assist Plan Sponsors in achieving operational compliance, the IRS provides an
Operational Compliance List13 that is
updated periodically to identify changes
in Qualification Requirements and Section
403(b) Requirements that are effective
during a calendar year. However, a plan
must comply operationally with each relevant Qualification Requirement or Section
403(b) Requirement, as applicable, even
if the requirement is not included on an
Operational Compliance List.
SECTION 9. CIRCUMSTANCES
UNDER WHICH A PLAN
MAY BE SUBMITTED FOR A
DETERMINATION LETTER
.01 In general. A Plan Sponsor of an
individually designed plan may submit a
determination letter application for an initial plan determination, for a determination
upon plan termination, and in other circumstances, as described in sections 9.02,
9.04, and 9.06, respectively. In addition,
a Plan Sponsor of a qualified individually
designed plan may submit a determination
letter application for a determination with
respect to a Merged Plan, as described in
section 9.05.
.02 Initial plan determination. (1)
Statement of rule. A Plan Sponsor of an
individually designed plan may submit the
plan for an initial plan determination on a
Form 5300 unless the plan previously had
been filed for a determination letter on a
Form 5300 and had been issued a determination letter as an individually designed
plan. For purposes of the preceding sentence, a plan that had been issued a determination letter as an individually designed
plan includes a pre-approved plan that was
treated as an individually designed plan
under section 8.06 of Rev. Proc. 2017-41
or section 9.05 of Rev. Proc. 2021-37, as
applicable, at the time the determination
letter was issued with respect to the plan.14
(2) Examples. Examples 1 through 4 address
whether an initial plan determination has been made
with respect to a plan.
(a) Example 1: Determination letter issued with
respect to individually designed plan as a result of
Form 5300 filing. Plan Sponsor A adopted Plan W,
an individually designed plan, in 2017. Plan Sponsor A submitted a determination letter application on
Form 5300 with respect to Plan W in 2019. A determination letter previously had not been issued with
respect to Plan W. A favorable determination letter
was issued with respect to Plan W in 2020. Because
a determination letter was issued as a result of Plan
Sponsor A’s filing of a determination letter application on Form 5300 with respect to individually
designed Plan W, an initial plan determination letter
is considered to have been issued with respect to the
plan. Accordingly, Plan Sponsor A is not eligible to
submit a future determination letter application for
an initial plan determination with respect to Plan W
on a Form 5300.
(b) Example 2: Determination letter issued with
respect to pre-approved plan as a result of Form
5307 filing. Plan Sponsor B adopted Plan X, an individually designed plan, in 2015. In 2017, Plan Sponsor B amended Plan X by adopting a pre‑approved
plan. A determination letter had not been issued
with respect to Plan X while the plan was individually designed; however, in 2017, after amending the
plan to become a pre-approved plan, Plan Sponsor
B submitted a determination letter application for
the plan on a Form 5307 and received a favorable
determination letter. Because the determination letter
issued with respect to Plan X was issued as a result
of Plan Sponsor B’s filing of a determination letter
application on Form 5307 with respect to a pre-approved plan, an initial plan determination is not considered to have been issued with respect to Plan X.
Accordingly, Plan Sponsor B is eligible to submit a
future determination letter application for an initial
plan determination with respect to Plan X on a Form
5300.
(c) Example 3: Determination letter issued with
respect to pre-approved plan as a result of leased
employee determination. Plan Y is a nonstandardized qualified defined contribution pre-approved
plan. Plan Sponsor C has continuously administered
Plan Y as a pre-approved plan from the date of its
establishment in 2005. A determination letter previously has not been issued with respect to Plan Y. Plan
Sponsor C is otherwise eligible to submit a determination letter application. In 2022, Plan Sponsor
C submitted a determination letter application and
included a request for a ruling on the status of leased
employees with respect to Plan Y. As required by
sections 12.03(3)(a) and 17.03 of Rev. Proc. 2022-4
(updated annually), Plan Sponsor C submitted the
application on a Form 5300. Because Plan Y is a
pre-approved plan, even though a determination letter was issued as a result of Plan Sponsor C’s filing of
a determination letter application on Form 5300, an
initial plan determination letter is not considered to
have been issued with respect to Plan Y. Accordingly,
Plan Sponsor C is eligible to submit a future determination letter application for an initial plan determination with respect to Plan Y on a Form 5300.
(d) Example 4: Determination letter issued with
respect to pre-approved plan treated as individually designed plan. Plan Sponsor D adopted Plan
Z, a nonstandardized qualified defined contribution
pre-approved plan, in 2019. In 2021, Plan Sponsor D
made several amendments to Plan Z and submitted a
determination letter application on Form 5307 with
respect to the plan, consistent with the requirements
of Rev. Proc. 2017-41. In connection with its review
of Plan Z, the IRS informed Plan Sponsor D that (1)
due to the nature and extent of the amendments made
to the plan, Plan Z would, pursuant to section 8.06
of Rev. Proc. 2017-41, be considered an individually
designed plan, and (2) in order to request a determination letter with respect to the plan, Plan Sponsor D
would need to file a Form 5300. Accordingly, Plan
Sponsor D resubmitted Plan Z as an individually
designed plan and requested a determination letter
on a Form 5300. A favorable determination letter
was issued with respect to the plan. Because Plan Z
was considered an individually designed plan when
a determination letter was issued with respect to the
plan, the determination letter is considered an initial
plan determination. Accordingly, Plan Sponsor D is
not eligible to submit a future determination letter
application for an initial plan determination with
respect to Plan Z on a Form 5300.
.03 Timing of submission for section
403(b) plan initial plan determination. A
Plan Sponsor that is eligible to submit a
section 403(b) individually designed plan
for an initial plan determination on a Form
5300 must submit the determination letter
application in accordance with the schedule set forth in section 12.01.
The Operational Compliance List can be found on the IRS website at https://www.irs.gov/retirement-plans/operational-compliance-list.
Rev. Proc. 2017-41 sets forth the procedures for issuing opinion letters regarding the qualification in form of pre-approved plans under sections 401, 403(a), and 4975. Rev. Proc. 2021-37
sets forth the procedures for issuing opinion letters regarding the satisfaction in form of section 403(b) pre-approved plans with respect to the Section 403(b) Requirements. The Treasury
Department and the IRS anticipate updating these revenue procedures in future guidance.
13
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.04 Determination upon plan termination. A Plan Sponsor of an individually
designed plan may submit a determination
letter application for a determination upon
plan termination on a Form 5310 (Application for Determination for Terminating
Plan) if the application is filed in connection with plan termination. An application
is deemed to be filed in connection with
plan termination if it is filed no later than
the later of:
(1) one year from the effective date of
the termination, or
(2) one year from the date on which the
action terminating the plan is taken.
However, in no event may the application be filed later than 12 months from
the date of distribution of substantially all
plan assets in connection with the plan
termination.
.05 Merged Plans. A Plan Sponsor of
a qualified individually designed plan
may submit a determination letter application for a determination with respect to
a Merged Plan on a Form 5300 if the following requirements are satisfied:15
(1) The Date of the Plan Merger occurs
no later than the last day of the first plan year
that begins after the plan year that includes
the Date of a Corporate Merger, Acquisition, or Other Similar Business Transaction
between Unrelated Entities, and
(2) A determination letter application
for the Merged Plan is submitted within
the Merged Plan submission period. The
Merged Plan submission period is the
period beginning on the Date of the Plan
Merger and ending on the last day of the
first plan year of the Merged Plan that
begins after the Date of the Plan Merger.16
.06 Other circumstances. Consideration will be given annually to whether
a Plan Sponsor may submit a determination letter application in specified circumstances other than for an initial plan determination, for a determination upon plan
termination, and, in the case of qualified
plans, for a determination with respect to
Merged Plans. Circumstances that will
be considered when evaluating whether
to accept determination letter applications for certain amended plans or types
of amendments in plans in certain future
years, include, for example, significant
law changes, new approaches to plan
design, and the inability of certain types of
plans to convert to pre-approved plan documents. In addition, the IRS’s current case
load and resources available to process
determination letter applications will be
significant factors in deciding if and when
to consider certain amended plans or types
of amendments in plans under the determination letter program. Taking into account
comments already received and based on
an analysis of the factors listed in this
section 9.06, including the IRS’s current
resources and case load, the IRS, during
calendar year 2023, will accept determination letter applications only for individually designed qualified and section 403(b)
plans for an initial plan determination and
for a determination upon plan termination,
and, with respect to qualified plans, for a
determination with respect to individually
designed Merged Plans. In section 16, the
Treasury Department and the IRS request
comments on the additional situations in
which the submission of a determination
letter application may be appropriate. The
Treasury Department and the IRS intend
to request, on a periodic basis, additional
comments relating to the expansion of the
determination letter program. Additional
situations in which Plan Sponsors will be
permitted to request determination letters
will be announced in guidance published
in the IRB.
SECTION 10. SCOPE OF PLAN
REVIEW
.01 Ongoing plans. (1) Changes in
Qualification Requirements or Section 403(b) Requirements that have
been or will be included on a Required
Amendments List. Except as otherwise provided in section 10.01(3), with
respect to ongoing plans, the IRS will
consider, in reviewing changes in Qualification Requirements and Section 403(b)
Requirements that have been or will be
included on a Required Amendments
List, only those changes that appear on a
Required Amendments List issued on or
before the last day of the second calendar
year preceding the year in which the determination letter application is submitted.17
(2) Qualification Requirements or Section 403(b) Requirements that have not
been and will not be included on a Required
Amendments List. Except as otherwise provided in section 10.01(3), with respect to
ongoing plans, the IRS will consider, in
reviewing Qualification Requirements and
Section 403(b) Requirements that have not
been and will not be included on a Required
Amendments List, only those Qualification
Requirements and Section 403(b) Requirements that are in effect on or before the last
day of the second calendar year preceding
the year in which the determination letter
application is submitted.18
(3) Exceptions provided in annual revenue procedure. Any exceptions to section
10.01(1) and (2) will be provided in the
annual revenue procedure that sets forth
the instructions for requesting determination letters from Employee Plans Rulings
and Agreements (annual revenue procedure) that applies with respect to the year
in which the determination letter application is submitted.19
(4) Examples. Examples 1 through 5
illustrate the IRS’s scope of plan review.
(a) Example 1: Change in Qualification Requirements that is included on a Required Amendments
List. Plan Sponsor A maintains Plan X, an ongoing
qualified individually designed plan. During 2024,
Law L is enacted and included on the 2024 Required
Amendments List. Plan Sponsor A is eligible to
submit a determination letter for Plan X pursuant
to section 9.02 and submits a determination letter
application with respect to Plan X during the 2026
calendar year. The IRS will consider Law L in its
review of Plan X because Law L was included on
See section 8 of Rev. Proc. 2019-20 for a special sanction structure applicable to Merged Plans.
See section 6 of Rev. Proc. 2019-20, which provides an extended remedial amendment period applicable to Merged Plans submitted during the Merged Plan submission period.
17
Generally, the Required Amendments List includes changes in Qualification Requirements and Section 403(b) Requirements that result in Disqualifying Provisions and Form Defects,
respectively. See, for example, Part III of Notice 2021-64, for a description of the content of the Required Amendments List.
18
For a list of the most recent changes in Qualification Requirements and Section 403(b) Requirements, see the Operational Compliance List. With respect to qualified plans, see the Cumulative Lists for years beginning on or after 2005. Notices setting forth the Cumulative Lists can be found on the IRS website at Cumulative List of Changes in Retirement Plan Qualification
Requirements | Internal Revenue Service (irs.gov). With respect to section 403(b) plans for years prior to 2016, see §§ 1.403(b)-1 through -11 and the requirements on the Cumulative Lists
that are also applicable to section 403(b) plans.
19
Rev. Proc. 2022-4 is the annual revenue procedure for 2022.
15
16
November 21, 2022
494
Bulletin No. 2022–47
the 2024 Required Amendments List (a Required
Amendments List issued on or before the last day of
the second calendar year preceding the year in which
the determination letter application is submitted).
(b) Example 2: Change in Qualification Requirements that has not yet been included on a Required
Amendments List. The facts are the same as in Example 1, except that, during 2024, Law M also is enacted.
Although Law M is a law that will be included on a
Required Amendments List, Law M has not been
included on a Required Amendments List as of
December 31, 2024, because guidance has yet to be
issued with respect to Law M. During 2024, Plan
Sponsor A adopts an amendment that reflects Law M.
Even though Plan Sponsor A adopted an amendment
to reflect Law M, the IRS will not consider Law M in
its review of Plan X because Law M was not included
on a Required Amendments List that was issued on or
before December 31, 2024 (the last day of the second
calendar year preceding the year in which the determination letter application is submitted).
(c) Example 3: Change in Qualification Requirements that is included on a Required Amendments List
after IRS review cutoff date. The facts are the same as
in Example 1, except that, during 2025, Law N also
is enacted. Law N is included on the 2025 Required
Amendments List. During 2025, Plan Sponsor A
adopts an amendment that reflects Law N. Even
though Law N is included on a Required Amendments
List and Plan Sponsor A adopted an amendment to
reflect Law N, the IRS will not consider Law N in its
review of Plan X because Law N was not included
on a Required Amendments List that was issued on or
before December 31, 2024 (the last day of the second
calendar year preceding the year in which the determination letter application is submitted).
(d) Example 4: Scope-of-review exception set
forth in annual revenue procedure. The facts are the
same as in Example 3, except that, pursuant to section 10.01(3), the IRS sets forth an exception to the
general rule by providing in Rev. Proc. 2026-4 that
it will consider Law N in its review of plans submitted for a determination letter during 2026. As a
result, even though Law N would require an amendment be made to the plan but generally would not be
considered by the IRS in its review of a plan submitted during 2026 because Law N was not included
on a Required Amendments List issued on or before
December 31, 2024 (the last day of the second calendar year preceding the year in which the determination letter application is submitted), the IRS will
consider Law N in its review of Plan X.
(e) Example 5: Change in Qualification Requirements that is not included on a Required Amendments List and is effective after IRS review cutoff
date. The facts are the same as in Example 1, except
that, during 2025, Law O also is enacted and is in
effect as of January 1 of that year. Law O would not
appear on a Required Amendments List because it
is a new discretionary provision. During 2025, Plan
Sponsor A adopts a discretionary amendment that
reflects Law O. Even though Plan Sponsor A adopted
a discretionary amendment to reflect Law O, the IRS
will not consider Law O in its review of Plan X
because Law O is effective after December 31, 2024
(the last day of the second calendar year preceding
the year in which the determination letter application
is submitted).
Bulletin No. 2022–47
.02 Terminating plans. Terminating
plans will be reviewed for amendments
required to be adopted in connection with
plan termination (see section 5.03(3)).
.03 Plan restatement. An individually
designed plan generally must be restated,
at the time the determination letter application is submitted, to incorporate all previously adopted amendments. However, a
terminating plan need not be restated.
.04 A determination letter does not
consider issues under Title I of ERISA.
A determination letter issued under this
revenue procedure will not address issues
under Title I of ERISA. See section 11 for
details regarding a Plan Sponsor’s reliance on a determination letter.
.05 Section 403(b) plans for which a
determination letter will not be issued. A
determination letter will not be issued for
the following section 403(b) individually
designed plans:
(1) a TEFRA church defined benefit
plan (see § 1.403(b)-10(f)(2)); or
(2) a plan grandfathered under Rev.
Rul. 82-102, 1982-1 CB 62.
.06 A determination letter does not
consider issues related to a section 403(b)
plan’s coverage of multiple employers that
are not in a single controlled group. For a
section 403(b) plan that is not a governmental plan within the meaning of section
414(d), a determination letter does not
express an opinion, and may not be relied
upon, with respect to whether the plan
meets any requirements that apply due to
a plan’s coverage of multiple employers
that are not in a single controlled group
for purposes of section 414(b), (c), (m), or
(o) and the regulations thereunder. For a
section 403(b) plan that is a governmental
plan within the meaning of section 414(d),
a determination letter does not express
an opinion, and may not be relied upon,
with respect to whether the plan meets any
requirements that apply due to a plan’s
coverage of multiple employers that are
not aggregated in a single controlled group
in a manner consistent with Notice 89-23,
1989-1 CB 654.
SECTION 11. RELIANCE ON
DETERMINATION LETTERS
Section 23 of Rev. Proc. 2022-4
(updated annually) discusses reliance on
a determination letter, including the effect
495
of subsequent amendments made to the
plan. For example, under section 23.04
(and under a future annual revenue procedure with respect to section 403(b) plans),
in general, a Plan Sponsor that maintains
an individually designed qualified plan
or section 403(b) plan for which a favorable determination letter has been issued
and that is otherwise entitled to rely on
the determination letter may not continue
to rely on the determination letter with
respect to a plan provision that is subsequently amended (including any other
plan provision that may be affected by the
amended provision) or that is subsequently
affected by a change in Qualification
Requirements or Section 403(b) Requirements. However, a Plan Sponsor may
continue to rely on a determination letter
with respect to plan provisions that are not
amended (or affected by an amendment)
and plan provisions that are not affected
by a change in Qualification Requirements or Section 403(b) Requirements.
In addition, a Plan Sponsor that adopts a
sample or model amendment issued by the
IRS on a word-for-word basis (or adopts
an amendment that is substantially similar to a sample or model amendment in all
material respects) may continue to rely on
a previously issued determination letter.
SECTION 12. TIMING OF
SUBMISSION OF DETERMINATION
LETTER APPLICATIONS FOR
SECTION 403(b) PLANS
.01 Initial plan determination. A Plan
Sponsor may submit a section 403(b) individually designed plan for an initial plan
determination on or after the submission
date applicable with respect to the Plan
Sponsor’s EIN as provided in the schedule set forth in this section 12.01. Thus,
for example, a Plan Sponsor with an EIN
ending in 3 may submit a determination
letter application on June 1, 2023, or any
later date.
If the EIN of the
Plan Sponsor
ends in:
1, 2, or 3
4, 5, 6, or 7
8, 9, or 0
A determination
letter application
may be submitted
beginning on:
June 1, 2023
June 1, 2024
June 1, 2025
November 21, 2022
.02 Determination upon plan termination. Beginning on or after June 1, 2023,
a Plan Sponsor may submit a section
403(b) individually designed plan for
a determination upon plan termination
(without regard to the schedule in section
12.01).
PART III – EFFECT ON OTHER
DOCUMENTS, EFFECTIVE DATE,
PUBLIC COMMENTS, DRAFTING
INFORMATION
SECTION 13. SPECIAL
NOTICE AND DISCLOSURE
REQUIREMENTS FOR
SECTION 403(b) PLANS
.01 Parts I, II, and IV of Rev. Proc. 201637 are clarified, modified, and superseded.
.02 The last sentence of section 8.04 of
Rev. Proc. 2017-41 is modified.
.03 Sections 5, 6, 8, and 9 of Rev.
Proc. 2019-39 are clarified, modified, and
superseded.
.04 Section 5 of Rev. Proc. 2019-20 is
superseded.
.01 Notice to interested persons. Under
this revenue procedure, notice that an
application for an advance determination
regarding whether the form of a section
403(b) plan satisfies the Section 403(b)
Requirements must be given to all interested persons in a manner described in the
annual revenue procedure for the year in
which a determination letter application is
filed.20
.02 Disclosure requirements. The
requirements of section 6110, relating
to the public inspection of written determinations, apply to determination letter
applications submitted under this revenue procedure for section 403(b) individually designed plans.21 See the annual
revenue procedure applicable for the year
in which a determination letter is filed
for disclosure requirements applicable
to section 403(b) individually designed
plans.
SECTION 14. EFFECT ON OTHER
DOCUMENTS
SECTION 15. EFFECTIVE DATE
This revenue procedure is effective
November 7, 2022.
SECTION 16. PUBLIC COMMENTS
Comments are requested on specific
types of plans for which the Treasury
Department and the IRS should consider
accepting determination letter applications
in circumstances other than for an initial
plan determination, for a determination
upon plan termination, and for a determination with respect to Merged Plans. As
provided in section 9.06, circumstances
for consideration include, for example,
significant law changes, new approaches
to plan design, and the inability of certain
types of plans to convert to pre‑approved
plan documents. Comments that suggest
expanding the scope of the program for a
particular type of plan should not merely
state the type of plan, but should also specify the issues applicable to that type of plan
that would justify review of that particular
plan type under the determination letter
program. Such issues may include specific plan features and special plan designs
applicable to that type of plan, or unresolved questions with respect to whether
that type of plan satisfies the Qualification
Requirements or Section 403(b) Requirements, as applicable, in form. Comments
should be submitted in writing by February
28, 2023, and should include a reference
to Rev. Proc. 2022-40. Comments may be
submitted in one of two ways: (1) Electronically via the Federal eRulemaking Portal
at www.regulations.gov (type “IRS Revenue Procedure 2022-40 in the search field
on the Regulations.gov home page to find
this revenue procedure and submit comments); or (2) By mail to: the Internal Revenue Service, Attn: CC:PA:LPD:PR (Rev.
Proc. 2022-40), Room 5203, P.O. Box
7604, Ben Franklin Station, Washington,
D.C. 20044. The Treasury Department and
the IRS will publish for public availability
any comment submitted electronically or
on paper to its public docket.
DRAFTING INFORMATION
The principal author of this revenue procedure is Angelique Carrington of the Office
of Associate Chief Counsel (Employee Benefits, Exempt Organizations, and Employment Taxes). For further information regarding this revenue procedure, contact Robin
Joecken of Employee Plans at (513) 9756365 (not a toll‑free number).
Under section 7476, notice that an application for an advance determination regarding whether the form of a qualified plan satisfies the Qualification Requirements must be given to all
interested parties. Section 7476 does not apply to section 403(b) plans. See the annual revenue procedure for the year in which a determination letter is filed for a more detailed description
of the notice to interested parties and notice to interested persons requirements. The notice to interested persons requirement for section 403(b) plans will appear in a future annual revenue
procedure.
21
The public inspection requirements of section 6104 apply only to determination letter applications submitted for qualified plans. Section 6104(a)(1)(B) provides that any application filed
with respect to the qualification of a pension, profit-sharing, or stock bonus plan under section 401(a) or 403(a) shall be open to public inspection at such times and in such places as the
Secretary may prescribe.
20
November 21, 2022
496
Bulletin No. 2022–47
Part IV
Correction to
Notice 2022-41
Announcement 2022-22
Notice 2022-41, 2022-43 I.R.B. 304
(Oct. 24, 2022), contains a typographical error in the first sentence of the
Bulletin No. 2022–47
“GUIDANCE” section on page 306. The
sentence refers to a non-calendar year cafeteria plan allowing an employee to revoke
an election but should instead refer to any
cafeteria plan. The sentence is amended to
delete “non-calendar year.” The sentence
now reads, in part, as follows:
In addition to the situations described
in Notice 2014-55, a cafeteria plan may
497
allow an employee to revoke prospectively an election of family coverage
under a group health plan that is not a
health FSA and that provides minimum
essential coverage (as defined in section 5000A(f)(1)) provided the following conditions are satisfied:
....
November 21, 2022
Definition of Terms
Revenue rulings and revenue procedures
(hereinafter referred to as “rulings”) that
have an effect on previous rulings use the
following defined terms to describe the
effect:
Amplified describes a situation where
no change is being made in a prior published position, but the prior position is
being extended to apply to a variation of
the fact situation set forth therein. Thus,
if an earlier ruling held that a principle
applied to A, and the new ruling holds that
the same principle also applies to B, the
earlier ruling is amplified. (Compare with
modified, below).
Clarified is used in those instances
where the language in a prior ruling is
being made clear because the language
has caused, or may cause, some confusion. It is not used where a position in a
prior ruling is being changed.
Distinguished describes a situation
where a ruling mentions a previously published ruling and points out an essential
difference between them.
Modified is used where the substance
of a previously published position is being
changed. Thus, if a prior ruling held that a
principle applied to A but not to B, and the
new ruling holds that it applies to both A
and B, the prior ruling is modified because
it corrects a published position. (Compare
with amplified and clarified, above).
Obsoleted describes a previously published ruling that is not considered determinative with respect to future transactions.
This term is most commonly used in a ruling
that lists previously published rulings that
are obsoleted because of changes in laws or
regulations. A ruling may also be obsoleted
because the substance has been included in
regulations subsequently adopted.
Revoked describes situations where the
position in the previously published ruling
is not correct and the correct position is
being stated in a new ruling.
Superseded describes a situation where
the new ruling does nothing more than
restate the substance and situation of a
previously published ruling (or rulings).
Thus, the term is used to republish under
the 1986 Code and regulations the same
position published under the 1939 Code
and regulations. The term is also used
when it is desired to republish in a single
ruling a series of situations, names, etc.,
that were previously published over a
period of time in separate rulings. If the
new ruling does more than restate the substance of a prior ruling, a combination of
terms is used. For example, modified and
superseded describes a situation where the
substance of a previously published ruling
is being changed in part and is continued
without change in part and it is desired to
restate the valid portion of the previously
published ruling in a new ruling that is
self contained. In this case, the previously
published ruling is first modified and then,
as modified, is superseded.
Supplemented is used in situations in
which a list, such as a list of the names of
countries, is published in a ruling and that
list is expanded by adding further names
in subsequent rulings. After the original
ruling has been supplemented several
times, a new ruling may be published that
includes the list in the original ruling and
the additions, and supersedes all prior rulings in the series.
Suspended is used in rare situations
to show that the previous published rulings will not be applied pending some
future action such as the issuance of new
or amended regulations, the outcome of
cases in litigation, or the outcome of a
Service study.
Abbreviations
The following abbreviations in current
use and formerly used will appear in
material published in the Bulletin.
A—Individual.
Acq.—Acquiescence.
B—Individual.
BE—Beneficiary.
BK—Bank.
B.T.A.—Board of Tax Appeals.
C—Individual.
C.B.—Cumulative Bulletin.
CFR—Code of Federal Regulations.
CI—City.
COOP—Cooperative.
Ct.D.—Court Decision.
CY—County.
D—Decedent.
DC—Dummy Corporation.
DE—Donee.
Del. Order—Delegation Order.
DISC—Domestic International Sales Corporation.
DR—Donor.
E—Estate.
EE—Employee.
E.O.—Executive Order.
ER—Employer.
Bulletin No. 2022–47
ERISA—Employee Retirement Income Security Act.
EX—Executor.
F—Fiduciary.
FC—Foreign Country.
FICA—Federal Insurance Contributions Act.
FISC—Foreign International Sales Company.
FPH—Foreign Personal Holding Company.
F.R.—Federal Register.
FUTA—Federal Unemployment Tax Act.
FX—Foreign corporation.
G.C.M.—Chief Counsel’s Memorandum.
GE—Grantee.
GP—General Partner.
GR—Grantor.
IC—Insurance Company.
I.R.B.—Internal Revenue Bulletin.
LE—Lessee.
LP—Limited Partner.
LR—Lessor.
M—Minor.
Nonacq.—Nonacquiescence.
O—Organization.
P—Parent Corporation.
PHC—Personal Holding Company.
PO—Possession of the U.S.
PR—Partner.
PRS—Partnership.
i
PTE—Prohibited Transaction Exemption.
Pub. L.—Public Law.
REIT—Real Estate Investment Trust.
Rev. Proc.—Revenue Procedure.
Rev. Rul.—Revenue Ruling.
S—Subsidiary.
S.P.R.—Statement of Procedural Rules.
Stat.—Statutes at Large.
T—Target Corporation.
T.C.—Tax Court.
T.D.—Treasury Decision.
TFE—Transferee.
TFR—Transferor.
T.I.R.—Technical Information Release.
TP—Taxpayer.
TR—Trust.
TT—Trustee.
U.S.C.—United States Code.
X—Corporation.
Y—Corporation.
Z—Corporation.
November 21, 2022
Numerical Finding List1
Bulletin 2022–47
Announcements:
2022-14, 2022-31 I.R.B. 136
2022-15, 2022-31 I.R.B. 136
2022-16, 2022-33 I.R.B. 144
2022-17, 2022-35 I.R.B. 179
2022-18, 2022-36 I.R.B. 190
2022-19, 2022-36 I.R.B. 191
2022-20, 2022-38 I.R.B. 238
2022-21, 2022-46 I.R.B. 464
2022-22, 2022-47 I.R.B. 497
Notices:
2022-29, 2022-28 I.R.B. 66
2022-30, 2022-28 I.R.B. 70
2022-31, 2022-29 I.R.B. 85
2022-32, 2022-32 I.R.B. 137
2022-33, 2022-34 I.R.B. 147
2022-34, 2022-34 I.R.B. 150
2022-35, 2022-36 I.R.B. 184
2022-36, 2022-36 I.R.B. 188
2022-37, 2022-37 I.R.B. 234
2022-38, 2022-39 I.R.B. 239
2022-39, 2022-40 I.R.B. 264
2022-40, 2022-40 I.R.B. 266
2022-42, 2022-41 I.R.B. 276
2022-44, 2022-41 I.R.B. 277
2022-43, 2022-42 I.R.B. 303
2022-45, 2022-42 I.R.B. 307
2022-41, 2022-43 I.R.B. 304
2022-46, 2022-43 I.R.B. 306
2022-47, 2022-43 I.R.B. 312
2022-48, 2022-43 I.R.B. 316
2022-49, 2022-43 I.R.B. 321
2022-50, 2022-43 I.R.B. 325
2022-51, 2022-43 I.R.B. 331
2022-52, 2022-43 I.R.B. 337
2022-53, 2022-45 I.R.B. 437
2022-54, 2022-45 I.R.B. 439
2022-55, 2022-45 I.R.B. 443
2022-56, 2022-47 I.R.B. 480
2022-57, 2022-47 I.R.B. 482
2022-58, 2022-47 I.R.B. 483
Revenue Procedures:
2022-25, 2022-27 I.R.B. 3
2022-28, 2022-27 I.R.B. 65
2022-26, 2022-29 I.R.B. 90
2022-32, 2022-30 I.R.B. 101
2022-30, 2022-31 I.R.B. 112
2022-29, 2022-33 I.R.B. 141
2022-34, 2022-33 I.R.B. 143
2022-35, 2022-40 I.R.B. 270
2022-36, 2022-40 I.R.B. 274
2022-19, 2022-41 I.R.B. 282
2022-31, 2022-43 I.R.B. 339
2022-37, 2022-43 I.R.B. 377
2022-38, 2022-45 I.R.B. 445
2022-40, 2022-47 I.R.B. 487
Revenue Rulings:
2022-12, 2022-27 I.R.B. 1
2022-13, 2022-30 I.R.B. 99
2022-14, 2022-31 I.R.B. 110
2022-15, 2022-35 I.R.B. 152
2022-17, 2022-36 I.R.B. 182
2022-18, 2022-40 I.R.B. 262
2022-19, 2022-44 I.R.B. 379
2022-20, 2022-45 I.R.B. 407
2022-21, 2022-47 I.R.B. 468
Treasury Decisions:
9963, 2022-34 I.R.B. 145
9964, 2022-35 I.R.B. 172
9965, 2022-37 I.R.B. 192
9966, 2022-44 I.R.B. 380
9967, 2022-44 I.R.B. 385
9968, 2022-45 I.R.B. 409
Proposed Regulations:
REG-130975-08, 2022-28 I.R.B. 71
REG 130675-17, 2022-30 I.R.B. 104
REG-125693-19, 2022-39 I.R.B. 241
REG-110368-22, 2022-44 I.R.B. 405
REG-100719-21, 2022-45 I.R.B. 457
REG-121509-00, 2022-45 I.R.B. 463
A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2021–27 through 2021–52 is in Internal Revenue Bulletin
2021–52, dated December 27, 2021.
1
November 21, 2022
ii
Bulletin No. 2022–47
Finding List of Current Actions on
Previously Published Items1
Bulletin 2022–47
A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2021–27 through 2021–52 is in Internal Revenue Bulletin
2021–52, dated December 27, 2021.
1
Bulletin No. 2022–47
iii
November 21, 2022
Internal Revenue Service
Washington, DC 20224
Official Business
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INTERNAL REVENUE BULLETIN
The Introduction at the beginning of this issue describes the purpose and content of this publication. The weekly Internal Revenue
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