# Bulletin No. 2021–33

> Briefs, arguments, decisions, and more.

URL: https://www.frixlaw.com/law-library/documents/agency%3Airs%3A7789c6c01c09a2bb

## Record

- **Collection:** Agency decision
- **Document type:** Agency decision

## Text

HIGHLIGHTS
OF THIS ISSUE




Bulletin No. 2021–33
August 16, 2021

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
Notice 2021-48, page 305.

This notice provides guidance on the changes to the funding rules for single-employer defined benefit pension plans
under § 430 of the Internal Revenue Code that were made
by §§ 9705 and 9706 of the American Rescue Plan Act of
2021.

EMPLOYEE PLANS; EMPLOYMENT
TAX; EXCISE TAX
Notice 2021-46, page 303.

This notice provides additional guidance on issues relating
to the application of § 9501 of the American Rescue Plan
Act of 2021 (the ARP), which provides temporary premium
assistance for Consolidated Omnibus Budget Reconciliation
Act of 1985 (COBRA) continuation coverage. This notice expands on guidance in Notice 2021-31, 2021-23 IRB 1173.
The questions addressed include availability of the premium
assistance to individuals eligible for an extension who had
not elected it; whether premium assistance for vision or dental-only coverage ends due to eligibility for other health coverage that does not include vision or dental benefits; availability of premium assistance under a State statute that limits
continuation coverage to government employees; whether

Finding Lists begin on page ii.

employers may claim the premium assistance tax credit if
the SHOP exchange requires employers to pay COBRA premiums and which party may claim the premium assistance
tax credit in situations involving parties other than an insurer
or former common law employer providing the COBRA coverage.

TAX CONVENTIONS
Announcement 2021-13, page 314.

The competent authorities of the United States and the United
Kingdom have entered into a Competent Authority Arrangement under paragraph 3 of Article 26 (Mutual Agreement
Procedure) agreeing that references to the “North American
Free Trade Agreement” in paragraph 7 of Article 23 (Limitation on Benefits) of the U.S.-U.K. Income Tax Treaty shall
be understood as the “United States-Mexico-Canada Agreement” (“USMCA”) upon entry into force of the USMCA.

Announcement 2021-14, page 315.

The competent authorities of the United States and the
United Kingdom have entered into a Competent Authority
Arrangement under paragraph 3 of Article 26 (Mutual Agreement Procedure) agreeing that U.K. residents may be eligible
to qualify as equivalent beneficiaries for purposes of applying
the derivative benefits test in paragraph 3 of Article 23 (Limitation on Benefits) of the U.S.-U.K. Income Tax Treaty.

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.

August 16, 2021 

Bulletin No. 2021–33

Part III
Premium Assistance for
COBRA Benefits Part II
Notice 2021-46
This notice provides additional guidance on the application of § 9501 of the
American Rescue Plan Act of 2021 (the
ARP), Pub. L. 117-2, 135 Stat. 4 (March
11, 2021), relating to temporary premium assistance for Consolidated Omnibus
Budget Reconciliation Act of 1985 (COBRA) continuation coverage.1
BACKGROUND
Following enactment of the ARP, the
IRS addressed issues with respect to COBRA premium assistance for COBRA
continuation coverage under the ARP in
Notice 2021-31, 2021-23 IRB 1173. This
notice supplements Notice 2021-31 and
addresses additional issues. Terms used
in this notice have the same meanings as
those terms have in Notice 2021-31, unless indicated otherwise.
ELIGIBILITY FOR COBRA
PREMIUM ASSISTANCE –
EXTENDED COVERAGE PERIODS
Q-1. Is COBRA premium assistance
available for a potential Assistance Eligible Individual whose original 18-month
COBRA continuation coverage period has
expired, but who is entitled to notify the
plan or insurer, and has not yet done so,
of the intent to elect COBRA continuation
coverage for an extended period due to
a disability determination, second qualifying event, or an extension under State
mini-COBRA, to the extent the extended
period of coverage falls between April 1,
2021 and September 30, 2021?
A-1. Yes. If the original qualifying
event was a reduction in hours or an involuntary termination of employment,
COBRA premium assistance is available

to an individual who is entitled to elect
COBRA continuation coverage for an
extended period due to a disability determination, second qualifying event, or an
extension under State mini-COBRA, to
the extent the extended period of coverage
falls between April 1, 2021 and September
30, 2021, even if the individual had not
notified the plan or insurer of the intent to
elect extended COBRA continuation coverage before the start of that period.
Example: An individual who was provided a COBRA general notice is involuntarily terminated and
elects COBRA continuation coverage effective October 1, 2019; the individual’s 18-month COBRA continuation period lapses March 31, 2021. On March
1, 2020, a disability determination letter is issued by
the Social Security Administration providing that the
individual was disabled as of November 1, 2019. The
disability determination entitles the individual to the
29-month extended COBRA continuation coverage.
The individual fails to notify the plan of the disability determination by April 30, 2020, which is 60 days
after the date of the issuance of the disability determination letter as required under § 4980B(f)(6)(C).
However, under the Emergency Relief Notices, the
individual has one year and 60 days from the issuance of the disability determination letter to notify
the plan of the disability to extend COBRA continuation coverage. On April 10, 2021, the individual
notifies the plan of the disability and elects ongoing
coverage from April 1, 2021. Assuming the individual is not eligible for other disqualifying group
health plan coverage or Medicare, the individual is
an Assistance Eligible Individual and is entitled to
the COBRA premium assistance.

END OF COBRA PREMIUM
ASSISTANCE PERIOD – DENTAL
AND VISION COVERAGE
Q-2. If an Assistance Eligible Individual previously elected COBRA continuation coverage with premium assistance for
dental-only or vision-only coverage, does
the individual cease to be eligible for COBRA premium assistance if the individual
subsequently becomes eligible to enroll in
other disqualifying group health plan coverage or Medicare that does not provide
dental or vision benefits?
A-2. Yes. Eligibility for COBRA premium assistance ends when the Assistance
Eligible Individual becomes eligible for

coverage under any other disqualifying
group health plan or Medicare, even if the
other coverage does not include all of the
benefits provided by the previously elected COBRA continuation coverage. For
example, eligibility for Medicare, which
generally does not provide vision or dental coverage, ends eligibility for premium
assistance related to all previously elected
COBRA continuation coverage, including previously elected dental-only or vision-only COBRA continuation coverage.
COMPARABLE STATE
CONTINUATION COVERAGE –
COVERAGE FOR A SUBSET OF
STATE RESIDENTS
Q-3. Does a State continuation coverage program provide comparable coverage to COBRA continuation coverage for
qualifying individuals if the State program
covers only a subset of State residents (for
example, only employees of a State or local government unit)?
A-3. Yes. A State program does not fail
to provide comparable coverage to Federal COBRA continuation coverage solely
because the program covers only a subset
of State residents, as long as the program
provides coverage otherwise comparable
to Federal COBRA. For more information
on comparable state continuation coverage, see Notice 2021-31, Q&A-61 and
Q&A-62. Thus, a State law that provides
continuation coverage only for employees
of a State or local government unit may
be comparable coverage that qualifies Assistance Eligible Individuals for COBRA
premium assistance under the ARP.
CLAIMING THE COBRA
PREMIUM ASSISTANCE CREDIT –
ADDITIONAL CLARIFICATION ON
THE ENTITY THAT MAY CLAIM
THE CREDIT
Q-4. What is the general rule for determining which entity is the common

Employer-sponsored health plans generally are required to offer an employee, spouse, or dependent child covered by the plan the opportunity to continue coverage under the plan for a
specified period of time after the occurrence of certain events that otherwise would have terminated the coverage (qualifying events). These continuation of coverage requirements, and the
corresponding coverage (if elected), are often referred to as “COBRA continuation coverage” or “COBRA” requirements. The COBRA requirements were enacted originally as part of the
Consolidated Omnibus Budget Reconciliation Act of 1985, Pub. L. 99-272 (April 7, 1986), and are set forth in § 4980B of the Internal Revenue Code.
1

Bulletin No. 2021–33

303

August 16, 2021

law employer maintaining the plan, as described in Notice 2021-31, Q&A-72(2)?
A-4. The common law employer maintaining the plan is the current common law
employer for Assistance Eligible Individuals whose hours have been reduced or the
former common law employer for those
individuals who have been involuntarily
terminated from employment, which, in
both cases, serves as the basis for the individual’s eligibility for COBRA continuation coverage (collectively referred to as
the common law employer). Generally, as
described in Notice 2021-31, Q&A-72(2),
when the requirements in § 6432(b)(2) are
satisfied, the common law employer is the
entity entitled to claim the credit, subject
to the exceptions set forth in Notice 202131, Q&A-82 (as clarified in Q&A-8 of
this notice), and in Q&A-9 and Q&A-10
of this notice.
Q-5. For a period of State-mandated
continuation coverage that is comparable to Federal COBRA, if the plan is also
subject to Federal COBRA (for example,
a period of State-mandated continuation
coverage that extends beyond the applicable Federal COBRA period), which entity
is the premium payee entitled to claim the
COBRA premium assistance credit?
A-5. For State-mandated continuation coverage that is comparable to Federal COBRA and is a group health plan
subject to both Federal COBRA and the
State-mandated continuation coverage,
the common law employer is the premium
payee entitled to claim the credit because
the plan is subject to Federal COBRA. See
Notice 2021-31, Q&A-72. Consequently,
even if the State-mandated continuation
coverage would require the Assistance
Eligible Individual to pay the premiums
directly to the insurer after the period of
Federal COBRA ends, the insurer is not
entitled to claim the COBRA premium assistance credit.
Q-6. If a group health plan (other than
a multiemployer plan) subject to Federal
COBRA covers employees of different
common law employers that are members
of a single controlled group, which entity
is the premium payee entitled to claim the
COBRA premium assistance credit?
A-6. If a plan (other than a multiemployer plan) subject to Federal COBRA
covers employees of two or more members of a controlled group, each common

August 16, 2021

law employer that is a member of the controlled group is the premium payee entitled to claim the COBRA premium assistance credit with respect to its employees
or former employees. Although all of the
members of a controlled group are treated
as a single employer for employee benefit purposes, each member is a separate
common law employer for employment
tax purposes. Therefore, the common law
employer is the premium payee, unless
Notice 2021-31, Q&A-82 (as clarified in
Q&A-8 of this notice) applies, or there is
a business reorganization as described in
Treas. Reg. § 54.4980B-9 and Q&A-9 of
this notice.
Q-7. If a group health plan (other than
a multiemployer plan) subject to Federal
COBRA covers employees of two or more
unrelated employers, which entity is the
premium payee entitled to claim the COBRA premium assistance credit?
A-7. If a group health plan (other than
a multiemployer plan) subject to Federal
COBRA covers employees of two or more
unrelated employers, the premium payee
entitled to claim the premium assistance
credit is the common law employer, unless
Notice 2021-31, Q&A-82 (as clarified in
Q&A-8 of this notice) applies or there is
a business reorganization as described in
§ 54.4980B-9 and Q&A-9 of this notice.
Q-8. If an entity provides health benefits to employees of another entity, but
it is not a third-party payer of those employees’ wages, may it be treated as a
third-party payer for purposes of applying
Notice 2021-31, Q&A-82?
A-8. No. For purposes of Notice 202131, Q&A-82, a third-party payer is an entity that pays wages subject to Federal employment taxes and reports those wages
and taxes on an aggregate employment tax
return that it files on behalf of its client(s).
As indicated in Notice 2021-31, Q&A-82,
these entities are typically professional
employer organizations (PEOs), certified professional employer organizations
(CPEOs), or agents described in § 3504.

Example: Employer A and Employer B participate in a Multiple Employer Welfare Arrangement
(MEWA) that neither pays wages subject to employment taxes nor reports wages and taxes on an aggregate employment tax return on behalf of Employer
A and Employer B. Certain former employees of
Employer A and Employer B are Assistance Eligible Individuals eligible for coverage provided by the
MEWA. The MEWA is not the premium payee and is
therefore not entitled to the COBRA premium assis-

304

tance credit. Instead, as provided in Notice 2021-31,
Q&A-72, and as clarified in Q&A-7 of this notice,
Employer A and Employer B are the premium payees
and are entitled to the COBRA premium assistance
credit.

Q-9. If there is a business reorganization described in § 54.4980B–9, which entity is the premium payee entitled to claim
the COBRA premium assistance credit for
COBRA continuation coverage elected by
Assistance Eligible Individuals who are
also M&A qualified beneficiaries (as defined in § 54.4980B–9, Q&A-4) if the selling group (as defined in § 54.4980B–9,
Q&A-2 or -3) remains obligated to make
COBRA continuation coverage available
to the M&A qualified beneficiaries?
A-9. If the selling group remains obligated under § 54.4980B–9, Q&A-8 to
make COBRA continuation coverage
available to M&A qualified beneficiaries
after a business reorganization described
in § 54.4980B–9, the entity in the selling
group that maintains the group health plan
is the premium payee entitled to claim
the COBRA premium assistance credit. If, under § 54.4980B-9, Q&A-8, the
common law employer (which may be
an entity in the buying group (as defined
in § 54.4980B-9, Q&A-2 or -3)) is not
obligated to make COBRA continuation
coverage available to Assistance Eligible
Individuals, the common law employer is
not entitled to the COBRA premium assistance credit after the business reorganization.
Q-10. If a group health plan maintained
by an agency of a State government (State
agency) that provides health coverage to
employees of various agencies of the State
and local governments within the State is
subject to the Federal COBRA requirements under the Public Health Service
Act, and Assistance Eligible Individuals
would have been required to remit COBRA premiums directly to the State agency were it not for the COBRA premium
assistance, which entity is the premium
payee entitled to claim the COBRA premium assistance credit?
A-10. If a State agency is obligated
to make COBRA continuation coverage
available to employees of various agencies of the State and local governments
within the State, and the Assistance Eligible Individuals would have been required
to remit COBRA premium payments directly to the State agency were it not for

Bulletin No. 2021–33

the COBRA premium assistance, the State
agency is the premium payee entitled to
claim the COBRA premium assistance
credit. In this case, the common law employer (if other than the State agency)
would not be entitled to the COBRA premium assistance credit.
Q-11. If a fully insured plan that is not
subject to Federal COBRA is offered by
an employer through a Small Business
Health Options Program (SHOP), is the
employer the premium payee entitled to
claim the premium assistance credit?
A-11. Yes, but only in certain circumstances. If a fully insured plan that is not
subject to Federal COBRA is offered by
an employer through a SHOP exchange,
the common law employer is treated as
the premium payee and is therefore eligible to claim the premium assistance credit
with respect to coverage in the plan if all
of the following conditions are satisfied:
(i) the employer participates in a SHOP
exchange that offers multiple insurance
choices to employees enrolled in the same
small group health plan; (ii) the SHOP
exchange provides the participating employer with a single premium invoice, aggregates all premium payments, and then
allocates and pays the applicable premium
amounts to the insurers; (iii) the participating employer has a contractual obligation with the SHOP exchange to pay
all applicable COBRA premiums to the
SHOP exchange; and (iv) the participating
employer would have received the State
mini-COBRA premiums directly from the
Assistance Eligible Individuals were it not
for the COBRA premium assistance.
If all four of these conditions are satisfied, then the insurer of a plan that is not
subject to Federal COBRA is not treated
as the premium payee with respect to coverage in the plan and is, therefore, not eligible to claim the credit. However, in all
other cases of a fully-insured plan subject
solely to State mini-COBRA, the insurer
(and not the common law employer) is the
premium payee entitled to the premium
assistance credit, which is the general rule
set forth in Notice 2021-31, Q&A-72.
DRAFTING INFORMATION
The principal authors of this notice
are Jason Sandoval and Mikhail Zhidkov
of the Office of Associate Chief Counsel

Bulletin No. 2021–33

(Employee Benefits, Exempt Organizations, and Employment Taxes). Other
Treasury Department and IRS officials
participated in its development. For further information on the provisions of this
notice in general, contact Jason Sandoval
at (202) 317-5500 (not a toll-free number). For further information on topics
addressed in the section of this notice titled Claiming the COBRA Premium Assistance Credit – Additional Clarification
on the Entity that May Claim the Credit,
contact Mikhail Zhidkov at (202) 3174774 (not a toll-free number).

Guidance on SingleEmployer Defined Benefit
Pension Plan Funding
Changes under the
American Rescue Plan Act
of 2021
Notice 2021-48
I. Purpose
This notice provides guidance on
the changes to the funding rules for single-employer defined benefit pension
plans under § 430 of the Internal Revenue
Code (Code) that were made by §§ 9705
and 9706 of the American Rescue Plan
Act of 2021 (the ARP), Pub. L. No. 1172, 135 Stat. 4 (March 11, 2021). Those
changes also affect the application of the
funding-based limits on benefits under
§ 436 of the Code.
Section 303 of the Employee Retirement Income Security Act of 1974, Pub.
L. No. 93‑406, 88 Stat. 829 (September
2, 1974), as amended (ERISA), provides
rules that are parallel to the rules of § 430
of the Code, and § 206(g) of ERISA provides rules that are parallel to the rules of
§ 436 of the Code. Section 303 of ERISA
was amended by §§ 9705 and 9706 of the
ARP. Under § 101 of Reorganization Plan
No. 4 of 1978 (92 Stat. 3790, as amended by Pub. L. No. 99–514, § 2, Oct. 22,
1986, 100 Stat. 2095) and § 3002(c) of
ERISA, the Secretary of the Treasury has
interpretive jurisdiction over the subject
matter addressed in this notice for purpos-

305

es of ERISA, as well as the Code. Thus,
the provisions of this notice pertaining to
§§ 430 and 436 of the Code also apply for
purposes of §§ 303 and 206(g) of ERISA.
II. Background
A. Minimum funding requirements under
§ 430 of the Code and benefit limitations
under § 436 of the Code
Section 412 of the Code provides that
a sponsor of a qualified defined benefit
plan (other than a multiemployer plan
described in § 414(f) or a CSEC plan described in § 414(y)) must make contributions to or under the plan for the plan year
that, in the aggregate, are not less than
the minimum required contribution determined under § 430 for the plan year.
As part of the determination of the
minimum required contribution under
§ 430, § 430(c) generally requires the
establishment of a shortfall amortization
base with respect to any plan year for
which the value of a plan’s assets is less
than the amount of the plan’s funding target. The shortfall amortization base of a
plan for a plan year is equal to the funding
shortfall of the plan for the plan year, minus the present value of the aggregate total
of the shortfall amortization installments
and waiver amortization installments that
have been determined for the plan year
and any succeeding plan year with respect
to the shortfall amortization bases and
waiver amortization bases of the plan for
plan years preceding the plan year. Prior to
the enactment of the ARP, a plan’s shortfall amortization installments generally
were calculated to amortize each shortfall
amortization base over 7 plan years pursuant to § 430(c)(2).
Under § 430(f), the plan sponsor of
a defined benefit plan that is subject to
§ 430 may elect to maintain a prefunding
balance and a funding standard carryover
balance, representing the cumulative total of contributions in excess of the minimum required contribution. Subject to
certain conditions, all or a portion of the
prefunding balance or funding standard
carryover balance may be used, at the
plan sponsor’s election, to offset the minimum required contribution for a plan year.
Under § 430(f)(6)(B)(i), a plan sponsor
that makes contributions in excess of the

August 16, 2021

minimum required contribution for a plan
year may elect to add that excess (adjusted with interest using the effective interest
rate for that plan year in accordance with
§ 430(f)(6)(B)(ii)) to the plan’s prefunding balance. A plan sponsor may also elect
to reduce the plan’s prefunding balance or
the funding standard carryover balance as
provided in § 430(f)(5).
Section 430(h)(2) specifies interest
rates that are used to calculate the minimum required contribution under § 430.
These interest rates are a set of three
segment rates described in § 430(h)(2)
(C)(i), (ii) and (iii), or, alternatively, a
full yield curve described in § 430(h)(2)
(D)(i). Section 40211(a) of The Moving
Ahead for Progress in the 21st Century
Act (MAP-21), Pub. L. No.112-141, 126
Stat. 405 (July 6, 2012), added § 430(h)(2)
(C)(iv) to the Code, which provides that
each of the three segment rates described
in § 430(h)(2)(C)(i), (ii), and (iii) for a
plan year is adjusted as necessary to fall
within a specified range that is determined
based on an average of the corresponding
segment rates for the 25-year period ending on September 30 of the calendar year
preceding the first day of that plan year.
Notice 2012-61, 2012-42 I.R.B. 479, provides guidance regarding the application
of the adjusted segment rates.
Section 436 provides limits on benefits
and benefit accruals under a single-employer defined benefit pension plan (other than a CSEC plan), which are applied
based on the plan’s adjusted funding target attainment percentage (AFTAP) within the meaning of § 436(j)(2) for a plan
year. Under § 436(j)(2), the AFTAP for a
plan year is based on the percentage determined by dividing the value of plan assets
for the plan year (generally reduced by
the sum of the plan’s prefunding balance
and funding standard carryover balance)
by the funding target for the plan year.
Section 436(b) provides generally that
unpredictable contingent event benefits
resulting from an event may not be paid if,
taking into account the payment of those
benefits, the plan’s AFTAP would be less
than 60 percent. Section 436(c) provides
generally that no amendment increasing
liabilities may take effect if, after taking
into account that amendment, the plan’s
AFTAP would be less than 80 percent.
Section 436(d) provides generally that

August 16, 2021

the plan may not pay certain accelerated
forms of benefit (such as a single-sum distribution) if the plan’s AFTAP is less than
80 percent. Section 436(e) provides generally that benefit accruals must cease if
the plan’s AFTAP is less than 60 percent.
Sections 436(b)(2) and (c)(2) provide
rules that allow a plan sponsor to avoid
or terminate benefit restrictions under
§ 436(b) or (c) by making an additional
contribution of a certain amount to the
plan. Section 1.436-1(f) provides rules for
these contributions, which are referred to
as § 436 contributions. Section 1.436-1(f)
(2)(i)(A) provides that any § 436 contribution made by a plan sponsor on a date
other than the valuation date for the plan
year must be adjusted with interest at the
plan’s effective interest rate for that plan
year. If the plan’s effective interest rate for
the plan year has not been determined at
the time of the contribution, then this interest adjustment must be made using the
highest of the three segment rates as applicable for that plan year. In that case, if
the effective interest rate for the plan year
is subsequently determined to be less than
that highest rate, the excess is recharacterized as an employer contribution taken
into account under § 430 for the current
plan year.
Section 436(h) provides rules that apply prior to the certification of the AFTAP
for a plan year by the plan’s enrolled actuary. Under § 436(h)(1), if a benefit limitation applied to a plan on the last day of the
preceding plan year, then the current plan
year’s AFTAP generally is presumed to be
equal to the prior plan year’s AFTAP for
the period beginning on the first day of the
plan year and ending when the plan’s enrolled actuary certifies the AFTAP for the
current plan year. Under § 436(h)(3), if (i)
the plan’s enrolled actuary has not certified
the AFTAP for the current plan year by the
first day of the 4th month of the plan year,
and (ii) the AFTAP for the prior plan year
did not result in the application of a benefit limitation for that prior plan year (but
would have resulted in the application of a
benefit limitation had that AFTAP been 10
percentage points lower), then the AFTAP
for the current plan year is presumed to
be equal to 10 percentage points less than
the AFTAP for the prior plan year for the
period beginning on that first day of the
4th month and ending when the plan’s en-

306

rolled actuary certifies the plan’s AFTAP
for the current plan year. Under § 436(h)
(2), if no certification of the AFTAP for
the current plan year is made before the
first day of the 10th month of that year,
then the AFTAP for the current plan year
is presumed to be less than 60 percent as
of that first day.
Section 3608(a)(1) of the Coronavirus Aid, Relief, and Economic Security
Act (CARES Act), Pub. L. No. 116-136,
134 Stat. 281 (March 27, 2020) provides
that any minimum required contribution
that would otherwise be due under § 430
of the Code during calendar year 2020
(including quarterly installments under
§ 430(j)(3) of the Code and § 303(j)(3)
of ERISA) are due on January 1, 2021.
Section 3608(a)(2) of the CARES Act
provides that those contributions and
installments are to be increased with
interest accruing for the period between
the original due date for the contribution
or installment and the date of the payment at the effective interest rate for the
plan for the plan year that includes the
payment date. Section 3608(b) of the
CARES Act provides that for purposes of applying § 436 of the Code (and
§ 206(g) of ERISA), a plan sponsor may
elect to treat the plan’s AFTAP for the
last plan year ending before January
1, 2020, as the AFTAP for plan years
that include calendar year 2020. Notice
2020-61, 2020-35 I.R.B. 468 and Notice
2020-82, 2020-49 I.R.B. 1458 provide
guidance regarding the application of
§ 3608 of the CARES Act.
B. Extension of the amortization period
for shortfall amortization bases
Section 9705(a) of the ARP added
§ 430(c)(8) to the Code to extend the amortization period for shortfall amortization
bases. Under § 430(c)(8), with respect to
plan years beginning after December 31,
2021 (or, at the election of the plan sponsor, plan years beginning after December
31, 2018, December 31, 2019, or December 31, 2020), the shortfall amortization
bases for all plan years preceding the first
plan year to which this provision applies
(and all shortfall amortization installments
determined with respect to those bases)
are reduced to zero, and shortfall amortization installments for all new shortfall

Bulletin No. 2021–33

amortization bases are calculated to amortize each shortfall amortization base over
15 plan years.
C. Changes to the adjusted 24-month
average segment rates
Prior to the enactment of the ARP, the
applicable minimum and maximum percentages for the 24-month average segment rates set forth in the table in § 430(h)
(2)(C)(iv)(II) of the Code were 90% to
110% for plan years beginning before
January 1, 2021, 85% to 115% for plan
years beginning in 2021, 80% to 120%
for plan years beginning in 2022, and a
wider corridor for later plan years. Section 9706(a)(1) of the ARP changed those
specified ranges. As amended by the ARP,
the applicable minimum and maximum
percentages are 95% and 105% for plan
years beginning in 2020 through 2025,
and a wider corridor for later plan years.
Section 9706(a)(2) of the ARP amended
§ 430(h)(2)(C)(iv)(I) of the Code to provide that if the average of the first, second,
or third segment rate for any 25-year period is less than 5 percent, then 5 percent is
substituted for that 25-year average. The
adjusted 24-month average segment rates
determined under § 430(h)(2)(C)(iv), taking into account the amendments made by
the ARP, are referred to in this notice as
the ARP segment rates (and the adjusted
24-month average segment rates determined not taking into account the amendments made by the ARP are referred to as
the pre-ARP segment rates).
Section 9706(c)(1) of the ARP provides
that the amendments made by § 9706 are
effective with respect to plan years beginning after December 31, 2019.1 However,
§ 9706(c)(2) provides that a plan sponsor
may elect not to have the amendments
made by § 9706 apply to any plan year beginning before January 1, 2022, either (as
specified in the election) for all purposes or solely for purposes of determining
the AFTAP for the plan year. In addition,
under § 9706(c)(2), a plan is not treated
as failing to meet the requirements of
§ 411(d)(6) of the Code solely by reason
of this election.

D. Market rate of interest limitation for
statutory hybrid plans
Section 1.411(b)(5)-1(d)(1)(i) provides that a statutory hybrid plan satisfies the requirement in § 411(b)(1)(H)
only if the interest crediting rate under
the statutory hybrid benefit formula does
not exceed a market rate of return. Under § 1.411(b)(5)-1(d)(1)(iii)(A) and (d)
(3), an interest crediting rate satisfies this
market rate of return limitation if it is no
greater than the third segment rate described in § 430(h)(2)(C)(iii), determined
with or without regard to § 430(h)(2)(C)
(iv). Under § 1.411(b)(5)-1(d)(1)(iii)(B)
and (d)(4), an interest crediting rate satisfies the market rate of return limitation if
it is no greater than the first or second
segment rate described in § 430(h)(2)(C)
(i) and (ii), determined with or without
regard to § 430(h)(2)(C)(iv).
III. Application of § 430(c)(8) of the
Code and § 9706 of the ARP
A. General guidance relating to
application of § 430(c)(8) of the Code
For all plan years beginning after December 31, 2021, shortfall amortization
bases are amortized over 15 years, and for
all earlier plan years, all shortfall amortization bases are eliminated. However, a
plan sponsor may elect to have this rule
apply to plan years beginning after December 31, 2018, 2019, or 2020. If the
plan sponsor elects an earlier application
of § 430(c)(8), the first sentence of this
section III.A is applied by substituting the
December 31 of the earlier calendar year
that the plan sponsor elects for December
31, 2021.
B. General guidance relating to
application of § 9706 of the ARP
1. Applicability of the ARP segment rates
Q&A G-2 of Notice 2012-61 specifies
the items for which the adjusted 24-month
average segment rates, determined taking
into account § 430(h)(2)(C)(iv), apply or

do not apply. That guidance generally remains in effect following the enactment of
the ARP, but is modified to reflect subsequent statutory changes and to take into
account any election under § 9706(c)(2)
of the ARP not to apply the ARP segment
rates for a plan year.
For example, Notice 2012-61 provides
that if the adjusted segment rates under
§ 430(h)(2)(C)(iv) apply for a plan year,
then those rates apply for the purposes
of determining the minimum required
contribution under § 430, including the
calculation of target normal cost and
funding target under § 430(b) and (d) and
§ 1.430(d)-1, the calculation of the present value of remaining shortfall and waiver amortization installments for purposes
of determining any shortfall amortization
base established in the current plan year
under § 430(c)(3), the determination of
shortfall and waiver amortization installments under § 430(c)(2) and (e)(2), and
the limitation on the assumed rate of return for purposes of determining the average value of assets under § 430(g)(3)
(B), as described in section III.B. or III.C.
of Notice 2009-22, 2009-14 I.R.B. 741.
Therefore, for a plan year beginning in
2020, the ARP segment rates apply for
these purposes unless the plan sponsor has
elected under § 9706(c)(2) of the ARP to
apply the pre-ARP segment rates for that
plan year.
2. Effect of § 9706 of the ARP on interest
adjustments with respect to certain
contributions made pursuant to § 3608(a)
of the CARES Act
The application of the ARP segment
rates for a plan year increases the effective
interest rate for the plan for that plan year,
compared to the effective interest rate determined using the pre-ARP segment rates
for that plan year. Although Q&A-2 of
Notice 2020-61 provides that the effective
interest rate for the plan year in which a
contribution is made is used for certain
interest adjustments with respect to a contribution that is made after the original due
date for the plan year (but no later than
the extended deadline under § 3608(a) of

The adjusted 24-month average segment rates for months between January 2020 and March 2021, taking into account the amendments made by the ARP, are set forth in Notice 2021-27,
2021-18 I.R.B. 1125.
1

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307

August 16, 2021

the CARES Act), the ARP segment rates
are not used for determining that effective
interest rate if the plan year for which the
extended due date applies is a plan year
beginning before January 1, 2020. This is
because pursuant to § 9706(c)(1) of the
ARP, the ARP segment rates only apply
with respect to a plan year beginning after
December 31, 2019.
In addition, if a contribution for a plan
year beginning before January 1, 2020 is
made after the original due date but no
later than the extended due date under
§ 3608(a) of the CARES Act, then, as
described in Q&A-9 of Notice 2020-61,
the interest adjustment rules of Q&A-2 of
Notice 2020-61 apply for purposes of determining the value of plan assets for the
next plan year. Accordingly, the pre-ARP
segment rates will apply to determine the
effective interest rate that is used for this
purpose.
3. Applying the ARP segment rates to
statutory hybrid plan interest credits
If a statutory hybrid plan provides an
interest crediting rate that is based on any
of the three segment rates specified in
§ 430(h)(2)(C)(i), (ii), or (iii) of the Code
determined taking into account the corridor under § 430(h)(2)(C)(iv), the enactment of the ARP will result in a change
to the plan’s interest crediting rate. If an
election under § 9706(c)(2) of the ARP to
apply the pre-ARP segment rates for a plan
year beginning in 2020 or 2021 has been
made, the plan’s interest crediting rate for
the plan year will be determined by applying § 430(h)(2)(C)(iv) of the Code without regard to the amendment by § 9706
of the ARP. In contrast, if a plan sponsor
does not make an election under § 9706(c)
(2) of the ARP to apply the pre-ARP rates
for a plan year beginning in 2020 or 2021,
then the plan’s interest crediting rate for
the plan year will be determined by applying § 430(h)(2)(C)(iv) of the Code taking
into account its amendment by § 9706 of
the ARP. In that case, the plan administrator may apply a reasonable interpretation
of plan terms that reference § 430(h)(2)(C)
(iv) of the Code in determining when this
change in the interest crediting rate takes

effect. For this purpose, it is reasonable to
interpret the plan as providing for interest
credits determined without taking into account the amendments made by § 9706 of
the ARP for interest crediting periods that
ended prior to March 11, 2021 (the date
of enactment of the ARP), and to interpret
the plan as providing for interest credits
taking into account those amendments for
all interest crediting periods that end on or
after March 11, 2021.
IV. Manner and Timing of Making
Elections under the ARP

ment to line 32 of the Schedule SB for the
2020 plan year reflects 14 years remaining
in the amortization period for the shortfall amortization base for the 2019 plan
year, the plan sponsor will be deemed to
have elected to apply § 430(c)(8) beginning with the 2019 plan year. If instead an
attachment to line 32 of the Schedule SB
for the 2020 plan year reflects only one
shortfall amortization base with 15 years
remaining in the amortization period, the
plan sponsor will be deemed to have elected to apply § 430(c)(8) beginning with the
2020 plan year.

A. Manner of election under § 430(c)(8)
of the Code

B. Manner of election under § 9706(c)(2)
of the ARP

The election under § 430(c)(8) of the
Code to have the first plan year for which
15-year amortization of shortfall amortization bases applies be a plan year that
starts before January 1, 2022, is made by
the plan sponsor by providing written notification of this election to both the plan’s
enrolled actuary and the plan administrator. This election must be signed and dated
by the plan sponsor, and must include the
following information:
(1) The name of the plan;
(2) The plan number;
(3) The name of the plan sponsor;
(4) The plan sponsor’s mailing address;
(5) The plan sponsor’s employer identification number; and
(6) The first plan year for which the 15year amortization period will apply.
If a Form 5500 “Annual Return/Report
of Employee Benefit Plan”, Form 5500SF “Short Form Annual Return/Report of
Small Employee Benefit Plan,“ or Form
5500-EZ “Annual Return of A One-Participant (Owners/Partners and Their
Spouses) Retirement Plan or A Foreign
Plan,” is filed for the plan year beginning
in 2019, 2020, or 2021, and the Schedule
SB “Single-Employer Defined Benefit
Plan Actuarial Information” reflects the
15-year amortization of shortfall amortization bases under § 430(c)(8), then the
plan sponsor is deemed to have elected to
apply § 430(c)(8) beginning with the first
plan year for which this 15-year amortization is used.2 For example, if an attach-

The election not to have the amendments made by § 9706 of the ARP apply
to a plan year (that is, to use the pre-ARP
segment rates for the plan year) is made in
the same manner as the election in section
IV.A of this notice. The contents of the
election must include items (1) through
(5), with the following additions:
(6) If the election is made for a plan
year beginning in 2020, a statement
of whether the election not to have the
amendments made by § 9706 of the
ARP apply is being made for all purposes or solely for purposes of determining the AFTAP under § 436 of the
Code for the plan year.
(7) If the election is made for a plan
year beginning in 2021, a statement
of whether the election not to have the
amendments made by § 9706 of the
ARP apply is being made for all purposes or solely for purposes of determining the AFTAP under § 436 of the
Code for the plan year.
C. Election under § 9706(c) of the ARP
deemed to be made by completing
Schedule SB in a specified manner
If a Form 5500, Form 5500-SF or
Form 5500-EZ is filed for the plan year
beginning in 2020, and if line 21a of the
Schedule SB reflects the segment rates determined without regard to the ARP, then
the plan sponsor is deemed to have elected to apply the pre-ARP segment rates for

Schedule SB is not required to be filed for plans for which Form 5500–EZ is filed and certain plans for which Form 5500–SF is filed. For these plans, the Schedule SB must be completed
(including being signed by the enrolled actuary) and delivered to the plan administrator, who must retain it. With respect to these plans, references in this notice to the filing of an amended
Form 5500, Form 5500-SF, or Form 5500-EZ with a revised Schedule SB are applied by substituting the completion and delivery of the revised Schedule SB for the filing of the amended form.
2

August 16, 2021

308

Bulletin No. 2021–33

purposes of both §§ 430 and 436 of the
Code for that plan year. If this deemed
election is made by a filing on or before
October 15, 2021, then the election may
be revoked by filing, no later than December 31, 2021, an amended Form 5500,
Form 5500-SF, or Form 5500-EZ for the
plan year, with a revised Schedule SB that
reflects the use of the ARP segment rates.
If the plan sponsor revokes the deemed
election, the plan sponsor may also elect
to apply the pre-ARP segment rates only
for purposes of § 436 under the rules of
section IV.B of this notice.
An election that is deemed made pursuant to this section IV.C is irrevocable if it
is not revoked in the time and manner set
forth in this section IV.C.
D. Timing of elections under the ARP
Any plan sponsor election made in
accordance with section IV.A or IV.B of
this notice (other than the deemed election
under section IV.A) must be made by the
later of: (i) the last day of the plan year
beginning in 2021, or (ii) December 31,
2021.
V. Rules for Elections under § 430(f)
of the Code as a Result of the ARP
and Flexibility to Redesignate
Contributions Between Plan Years
Section 1.430(f)-1(f)(1)(i) generally
provides that any election under § 430(f)
by the plan sponsor must be made by providing written notification of the election
to the plan’s enrolled actuary and the plan
administrator. Section 1.430(f)-1(f)(2)(i)
generally provides that any election under § 430(f) with respect to a plan year
must be made no later than the last date
for making the minimum required contribution for the plan year as described in
§ 430(j)(1), or such later date as prescribed
in guidance published in the Internal Revenue Bulletin. However, § 1.430(f)-1(f)(2)
(iii) provides that any election to reduce
the prefunding balance or funding standard carryover balance for a plan year (for
example, in order to avoid or terminate a
benefit restriction under § 436) must be
made by the end of the plan year to which
the election relates.
Section 1.430(f)-1(f)(3) provides, in
general, that elections with respect to

Bulletin No. 2021–33

the plan’s prefunding balance or funding
standard carryover balance are irrevocable and must be unconditional. However, § 1.430(f)-1(f)(3)(ii) provides that an
election to use the prefunding balance or
funding standard carryover balance to
offset the minimum required contribution
for a plan year is permitted to be revoked
for a plan year to the extent the amount
the plan sponsor elected to use to offset
the minimum required contribution exceeds the minimum required contribution
for the plan year. Section 1.430(f)-1(f)(3)
(ii) specifies that the method for revoking
this election is to provide written notification of the revocation to the plan’s enrolled actuary and the plan administrator
by the deadline set forth in § 1.430(f)1(f)(3)(iii). Under § 1.430(f)-1(f)(3)(iii),
this revocation must generally be made
by the end of the plan year for which the
election was made (if the valuation date
is the first day of the plan year) or the due
date for contributions under § 430(j)(1)
(if the valuation date is not the first day
of the plan year).
Section 1.430(j)-1(b)(3)(ii) provides
that if a contribution is made during the
current plan year but before the deadline
for contributions for a prior plan year, and
the plan has no unpaid minimum required
contribution for any plan year at the time
the contribution is made, then the contribution may be designated as a contribution for either that prior plan year or the
current plan year. Similarly, if a contribution made during the current plan year
but before the deadline for contributions
for a prior plan year is more than enough
to correct a plan’s unpaid minimum required contributions for all plan years,
the portion of that contribution that was
not used to correct unpaid minimum required contributions may be designated as a contribution for either that prior
plan year or the current plan year. Under
§ 1.430(j)-1(b)(3)(iii)(B), the designation
that a contribution is for a plan year is established by the completion (and filing, if
required) of the Schedule SB for the plan
year for which the contribution is designated. In addition, that designation may
not be changed after the actuarial report
that reflects the contribution is completed
(and filed, if required) except as provided in guidance published in the Internal
Revenue Bulletin.

309

A. Election to add to a prefunding
balance
If a plan sponsor is applying the ARP
for a plan year beginning in 2019, 2020, or
2021, the plan sponsor may make an election to increase the prefunding balance by
an amount no greater than the amount of
the increase in excess contributions for the
plan year resulting from the amendments
made by the ARP.
Generally, any election to add to the
prefunding balance for a plan year must
be made by 8½ months after the end of
plan year. Pursuant to the authority under
§ 1.430(f)-1(f)(2)(i) to provide exceptions
to this rule, an election made under this
section V.A will be deemed timely if it is
made by December 31, 2021. However,
this extension of time does not affect the
application of the rules under § 1.430(f)1(d)(1)(ii) regarding the maximum
amount of available balances or the timing requirements under § 1.430(f)-1(f) for
an election to use a funding standard carryover balance or prefunding balance to
offset the minimum required contribution.
B. Revocation of an election to use a
prefunding balance or funding standard
carryover balance
An election to use a prefunding balance
or funding standard carryover balance to
offset the minimum required contribution for a plan year that begins in 2019 or
2020 may be revoked to the extent of the
reduction in the minimum required contribution that results from applying any of
the amendments made by the ARP. This
revocation is made by providing written
notification of the revocation to the plan’s
enrolled actuary and the plan administrator and is deemed timely if it is made by
December 31, 2021.
C. Revocation of an election to reduce a
prefunding balance or funding standard
carryover balance
An election to reduce a plan’s prefunding balance or funding standard carryover
balance under § 1.430(f)-1(e) as of the
first day of a plan year beginning in 2020
or 2021 may be revoked in full or in part
if either of the amendments made by the
ARP apply for purposes of determining

August 16, 2021

the minimum required contribution for
that plan year. This revocation is made
by providing written notification of the
revocation to the plan’s enrolled actuary
and the plan administrator and is timely if
made by December 31, 2021.
D. Redesignation of plan year for
contributions
Pursuant to the authority under
§ 1.430(j)-1(b)(3)(iii)(B) to permit a contribution that has been designated for a
plan year to be redesignated for a different plan year, a plan sponsor may choose
to redesignate all or a portion of a contribution that was originally designated
as applying for the plan year beginning
in 2019 or 2020 as a contribution for the
immediately succeeding plan year. Any
redesignation made under this section V.D
applies only if the contribution could have
been designated as made for that immediately succeeding plan year. For example,
redesignation is not permitted if the redesignation would conflict with the requirement in § 1.430(j)-1(b)(3)(i) (related to
allocations to satisfy unpaid minimum required contributions). Similarly, if a contribution that was designated for one plan
year is being redesignated for the next
plan year, the contribution must have been
made within that next plan year (or after
the end of that next plan year and no later
than the deadline for contributions for that
next plan year). A redesignation of a contribution for a plan year to the next plan
year is available only if the original designation was made on a Schedule SB filed
on or before October 15, 2021. Plan sponsors should note that the redesignation of
a contribution to the next plan year will
have an impact on the asset value for various purposes, including the determination
of variable-rate premiums payable to the
Pension Benefit Guaranty Corporation.
For example, assume that for a calendar year plan, a plan sponsor elects to
apply the 15-year amortization schedule
under § 430(c)(8) of the Code for shortfall
amortization bases for the 2019 plan year,
which lowers the plan’s minimum required contribution for 2019 and increases the amount of excess contributions for
that plan year. Assume that, for the 2020
plan year, the plan’s prior plan year funding ratio is below the threshold for use of

August 16, 2021

the prefunding balance or funding standard carryover balance for the 2020 plan
year under § 430(f)(3)(C). In that case,
although the plan sponsor could elect to
add the additional excess contributions to
the prefunding balance, the plan sponsor
would then not be able to use that addition
to the prefunding balance toward the 2020
minimum required contribution. Instead,
the plan sponsor may elect to redesignate
the excess contributions made in 2020 that
were originally designated for the 2019
plan year as contributions for the 2020
plan year.
VI. Changes in AFTAP under § 436 of
the Code as a Result of the ARP
The regulations under § 436 of the
Code address the calculation of a plan’s
AFTAP. Section 1.436-1(h)(4)(iii) provides rules relating to changes in a plan’s
AFTAP after it has been certified, and the
effect of such a change depends on whether the change is material (within the meaning of § 1.436-1(h)(4)(iii)(B)) or immaterial (within the meaning of § 1.436-1(h)
(4)(iii)(C)). In general, a material change
in AFTAP is defined as a change under
which plan operations would have been
different based on the subsequent AFTAP
determination, and an immaterial change
in AFTAP is defined as a change that is
not a material change. Under § 1.436-1(h)
(4)(iv)(A), a material change in a plan’s
AFTAP will cause a plan to fail to comply
with § 401(a).
Section 1.436-1(h)(4)(iii)(C) provides
a special rule that, subject to certain
conditions, deems a change in a plan’s
AFTAP to be immaterial (even if the
change would otherwise be material) if
the change results from an event specified in § 1.436‑1(h)(4)(iii)(C)(1) through
(8). Deemed immaterial treatment under
§ 1.436-1(h)(4)(iii)(C) with respect to an
event that results in a change in AFTAP
is conditioned on the AFTAP being recertified as soon as reasonably practicable
after the event. The effect of this deemed
immaterial treatment is that the change in
the plan’s AFTAP will not cause the plan
to fail to comply with § 401(a) merely because of the change, provided that the plan
administrator reflects the new AFTAP in
plan operations on a prospective basis
beginning with the date of the event. Sec-

310

tion 1.436-1(h)(4)(iii)(C)(9) permits the
expansion of the list of events for which
a resulting change in AFTAP may be
deemed immaterial through publication of
guidance in the Internal Revenue Bulletin.
A. Prospective application of change in
benefit restrictions reflecting amendments
made by the ARP
If the plan’s AFTAP has been certified for a plan year, then any subsequent
change to that AFTAP (including a change
that results from the changes in the minimum funding requirements made by the
ARP and any related elections made as
described in this notice) is subject to the
rules regarding a change in AFTAP set
forth in § 1.436-1(h)(4)(iii) and (iv).
A change in a plan’s AFTAP is treated
as a deemed immaterial change if (1) the
plan’s AFTAP has been certified for a plan
year beginning in 2020 or 2021 based on
the minimum funding requirements not
reflecting the amendments made by the
ARP, (2) subsequently, but no later than
December 31, 2021, a revised certification
of the AFTAP for that plan year is made
taking into account those changes to the
minimum funding requirements and any
related elections made as described in this
notice, and (3) the plan sponsor does not
elect to apply the change in AFTAP retroactively as described in section VI.B
of this notice. The event that gives rise to
this deemed immaterial change is the revised AFTAP certification. Accordingly,
the plan must be operated in accordance
with the revised AFTAP certification on a
prospective basis.
B. Retroactive application of change in
benefit restrictions reflecting changes
under the ARP
A change in a plan’s AFTAP is also
treated as a deemed immaterial change
if (1) the plan’s AFTAP has been certified for a plan year beginning in 2020 or
2021 based on the minimum funding requirements not reflecting the amendments
made by the ARP, (2) subsequently, but no
later than December 31, 2021, a revised
certification of the AFTAP for that plan
year is made taking into account those
changes to the minimum funding requirements and any related elections made as

Bulletin No. 2021–33

described in this notice, and (3) the plan
sponsor elects to apply the AFTAP determined taking into account those amendments and elections retroactively. In that
case, the operations of the plan must be
conformed to that updated AFTAP for
the period beginning when the AFTAP
for the plan year was originally certified.
For example, if the amendments made
by the ARP were applied for purposes of
determining the AFTAP for the plan year
beginning in 2020, then operations of the
plan for the 2021 plan year must be conformed to apply the rules of § 1.436-1(g)
and (h) using the redetermined 2020 AFTAP as the AFTAP for the preceding plan
year prior to the date of certification of the
AFTAP for the 2021 plan year.
C. Rules with respect to elections under
§ 3608(b) of the CARES Act
If an election under § 3608(b) of the
CARES Act applies for a plan year beginning in 2020, then any application of
the changes in the minimum funding rules
made by the ARP for that plan year will
not affect the application of § 436 of the
Code for that plan year. However, if the
changes made by the ARP apply for purposes of determining the AFTAP for the
plan year beginning in 2020, then pursuant to Q&A-18 of Notice 2020-61, those
changes will affect the presumed AFTAP
that applies for the plan year that follows
the last plan year for which an election
under § 3608(b) of the CARES Act was
made. In that case, the plan sponsor may
apply the rules of either paragraph A or B
of this section VI with respect to the redetermined AFTAP for the plan year beginning in 2020 that applies for a portion of
the next plan year.
If an election under § 3608(b) of the
CARES Act applies for a plan year beginning in 2020 and the plan sponsor does not
elect to apply the pre-ARP segment rates
for that plan year (including for purposes of § 436 of the Code), then the plan
sponsor may no longer wish to retain the
election under § 3608(b) of the CARES
Act for that plan year. Pursuant to Q&A16 of Notice 2020-61, the election under
§ 3608(b) may be revoked. Notwithstanding Q&A‑16 of Notice 2020-61, the new
AFTAP arising from the revocation of the
election under § 3608(b) of the CARES

Bulletin No. 2021–33

Act and the application of the amendments made by the ARP will be eligible to
be treated as a deemed immaterial change
pursuant to paragraph A or B of this section VI.
D. Recharacterization of contributions
made to avoid benefit limitations
pursuant to § 436 of the Code
Pursuant to this notice, a contribution
that was designated pursuant to §1.436(f)1(f)(2)(ii)(B) as a contribution made to
terminate or avoid the application of a
§ 436 limitation for a plan year beginning
in 2020 or 2021 may be redesignated as
an employer contribution that is taken
into account under § 430 to the extent that
contribution is not needed to terminate or
avoid the application of that benefit restriction as a result of the application of
the amendments made by the ARP.
E. Corrections
Once a plan’s AFTAP for a plan year
has been certified taking into account the
amendments made by the ARP, the plan
administrator must take any corrective
actions necessary to conform plan operations to this certified AFTAP, if applying
this certified AFTAP would have changed
the application of the § 436 restrictions for
the period (1) beginning with the date of
the immaterial event described in section
VI.A of this notice (if the AFTAP certification applying the ARP segment rates
applies prospectively under section VI.A
of this notice) or (2) beginning with the
date the AFTAP for the year was first certified, as applicable (if the AFTAP certification applying the ARP segment rates
applies retroactively under section VI.B
of this notice). If the AFTAP for a plan
year beginning in 2020 has been changed,
the period for potential correction also
includes the period during the 2021 plan
year before the AFTAP for that plan year
beginning in 2021 was originally certified.
If the corrective actions described in
this section VI.E are taken to reflect the
application of the new certified AFTAP,
then the plan’s operations are treated as
having been consistent with the provisions of the plan document relative to the
requirements of § 436. For this purpose,
the provisions of the Employee Plans

311

Compliance Resolution System (EPCRS)
apply, as set forth in Rev. Proc. 2021-30,
2021-31 I.R.B. 172, except that a plan is
eligible for self-correction under sections
7, 8, and 9 of Rev. Proc. 2021-30 without
regard to the requirements of sections 4.03
(requiring a favorable IRS determination
letter) and 4.04 (requiring certain established practices and procedures) of that
revenue procedure.
Consistent with § 1.436-1(a)(4)(iii),
if unpredictable contingent event benefits due to an event occurring during a
plan year beginning in 2020 are not permitted to be paid because of restrictions
under § 436(b), but are later permitted to
be paid as a result of a new certification
of the AFTAP for the plan year reflecting
the amendments made by the ARP, then
those unpredictable contingent event benefits must become payable, retroactive to
the period those benefits would have been
payable under the terms of the plan (other
than plan terms implementing the requirements of § 436(b)).
Consistent with § 1.436-1(a)(4)(iv), if
a plan amendment with an effective date
during a plan year beginning in 2020 does
not take effect because of the limitations
of § 436(c), but is later permitted to take
effect as a result of a new certification of
the AFTAP for the plan year reflecting the
amendments made by the ARP, then the
plan amendment must automatically take
effect as of the first day of that plan year
(or, if later, the original effective date of
the amendment).
For any prohibited payment that was
not permitted to be paid during a plan year
beginning in 2020 because of the restrictions under § 436(d), but is permitted to be
paid as a result of a new certification of the
AFTAP reflecting the amendments made
by the ARP, the plan has taken adequate
corrective action if it makes the prohibited
payment available to participants or beneficiaries who would have been eligible
for the prohibited payment (including a
prohibited payment that is available on a
restricted basis under § 436(d)(3)) on or
after the dates described in the first paragraph of this section VI.E.
For any accruals that were not permitted during a plan year beginning in 2020
because of restrictions under § 436(c), but
are permitted as a result of a new certification of the AFTAP reflecting the amend-

August 16, 2021

ments made by the ARP, the plan has taken adequate corrective action if it restores
benefits that accrue during the period that
begins on the date described in the first
paragraph of this section VI.E.
In the case of a participant or beneficiary who, as a result of any of the changes described in this section VI is entitled
to increased benefits, to benefits payable
at a special early retirement date, or to
benefits payable in a different form of
payment (and who elects such different
form of payment, with spousal consent,
if applicable), the corrective action is to
provide the benefit payments in the increased amount or other form of payment
commencing with a new prospective annuity starting date. However, if payments
have already commenced, the corrective
action is to provide the participant or
beneficiary with (1) future benefit payments that are paid in the same manner
and amount as if the participant or beneficiary had begun receiving the corrected
payment at the time payments originally
commenced, and (2) a make-up payment
for past underpayments. The make-up
payment for past underpayments (1)
is equal to the aggregate difference between the past payments actually received and the amounts that would have
been received by the participant or beneficiary had the benefit commenced in the
correct form of payment at the original
commencement date, plus interest to the
date of the correction (in accordance with
EPCRS), and (2) may be paid as either (i)
a single-sum payment, or (ii) an actuarially equivalent increase in the amount of
future benefit payments.
VII. Limitations on Actions Described
in this Notice
Any action described in this notice is
not permitted to the extent it would result
in the imposition of benefit restrictions
under § 436 of the Code that would otherwise not be imposed. For example, for
a plan year beginning in 2020, any reduction election that was made to avoid or
remove benefit restrictions under § 436
during the period before the date of the
original AFTAP certification for that plan
year may not be revoked. This is because
the AFTAP based on the elections under
the ARP will not apply to that portion of

August 16, 2021

the plan year and therefore the revocation
of any reduction election that was made to
avoid or remove benefit restrictions under
§ 436 during that period would result in
the imposition of new restrictions. Similarly, for a plan year beginning in 2021, no
change is permitted with respect to § 436
contributions that were made in connection with a presumed AFTAP before the
AFTAP was certified for the plan year.
As another example, assume that a plan
has excess contributions for the 2020 plan
year due to a reduction of the minimum
required contribution for the 2019 plan
year. If adding these excess contributions
to the prefunding balance as described in
section V.A of this notice would cause the
AFTAP to fall below 80 percent, then the
contributions may not be added to the prefunding balance to the extent that addition
results in imposition of benefit restrictions
under § 436.
VIII. Reporting Requirements for
Changes for the 2019 Plan Year
A. Revised minimum required
contributions, excess contributions,
unpaid minimum required contributions,
and redesignated contributions
The amendments made by the ARP
may affect the plan’s minimum required
contribution for the plan year beginning
in 2019 if the election to use the 15-year
amortization is made for that plan year.
If that election is made for the 2019 plan
year, and it changes the minimum required
contribution already reported on a 2019
Schedule SB, then the 2020 Schedule SB
should reflect the revised minimum required contribution for the 2019 plan year.
For example:
The reporting of excess contributions
for the 2019 plan year on line 11a and
11b of the Schedule SB for the 2020
plan year should reflect the revised
minimum required contribution, even
if those excess contributions are different than the amounts reported on Lines
38a and 38b of the Schedule SB filed
for the 2019 plan year.
The reporting of the unpaid minimum
required contribution for all prior plan
years on line 28 of the Schedule SB
for the 2020 plan year should reflect
the revised unpaid minimum required

312

contribution for the 2019 plan year,
even if the unpaid minimum required
contribution for all prior plan years is
different than the amount reported on
Line 40 of the Schedule SB for that
plan year.
Alternatively, an amended Form 5500,
Form 5500-SF, or Form 5500-EZ, for the
2019 plan year, with a revised Schedule
SB, may be filed.
If any contributions originally designated as applying for the 2019 or 2020
plan years are redesignated as for a different year, an amended Form 5500, Form
5500-SF or Form 5500-EZ with an amended Schedule SB must be filed for both the
plan year for which the contributions are
redesignated, and the year for which the
contributions were originally designated.
B. Changes in elections to use a
prefunding balance or funding standard
carryover balance
If, as described in section V.B of this
notice, a plan sponsor makes an election
to revoke some or all of an earlier election
to use the prefunding balance or funding
standard carryover balance to offset a
minimum required contribution for the
2019 plan year, then the reporting of the
amount of the prefunding balance or funding standard carryover balance used for
the 2019 plan year entered on line 8 of the
Schedule SB for the 2020 plan year should
take into account the revocation, even if
the amount of the prefunding balance or
funding standard carryover balance used
to offset the minimum required contribution for the 2019 plan year is different
than the amount entered on line 35 of the
Schedule SB for that plan year.
C. Reporting changes in excise tax on
unpaid minimum required contributions
If a plan sponsor reported an unpaid
minimum required contribution on a
Schedule SB, the plan sponsor filed a
Form 5330 to report and pay the excise
tax under § 4971 of the Code, and the
unpaid minimum required contribution
is subsequently reduced or eliminated as
described in section VIII.A of this notice,
then the plan sponsor may file an amended
Form 5330 to obtain a refund of the overpayment of the excise tax.

Bulletin No. 2021–33

If a plan sponsor expects that an unpaid
minimum required contribution shown on
the Schedule SB for the 2019 plan year
will be eliminated by the amendments
made by the ARP, Form 5330 should not
be filed. However, when a Schedule SB
showing an unpaid minimum required
contribution is filed, and the plan sponsor
does not timely file a Form 5330 to pay the
associated excise tax under § 4971 of the
Code, the Internal Revenue Service (IRS)
normally will send a notice that informs
the plan sponsor that the Form 5330 and
the excise tax are due. In this case, the
plan sponsor should respond to the notice,
advising the IRS that the reported unpaid
minimum required contribution will be
eliminated by the amendments made by
the ARP and providing supporting evidence thereof.
If the plan sponsor expects to have an
unpaid minimum required contribution for
the plan year once the amendments made
by the ARP are reflected but did not file
a Form 5330 when due, the plan sponsor
should file a Form 5330 reflecting the corrected unpaid minimum required contribution and pay the excise tax under § 4971
of the Code as soon as possible in order to
minimize interest and penalty charges.

quired contribution for the 2020 plan year
should be reflected in the Schedule SB for
the 2020 plan year.
The IRS expects that most Schedules
SB for the 2020 plan year will not have
been filed before the issuance of this notice, but some Schedules SB may have
been filed. If a Schedule SB has been filed
for the 2020 plan year that is inconsistent
with the guidance in this notice (or if the
plan sponsor makes an election pursuant
to this notice that affects information reported on the Schedule SB for the 2020
plan year and that was not reflected on
the filed Schedule SB), an amended Form
5500, Form 5500-SF, or Form 5500-EZ,
for the 2020 plan year, with a revised
Schedule SB, may be filed. If the Schedule
SB that has been filed for the 2020 plan
year has become inaccurate on account
of the amendments made by the ARP, the
guidance provided in this notice, or any
elections made pursuant to this notice,
then the rules of section VIII of this notice
should be applied for purposes of completing the Schedule SB for the 2021 plan
year, but substituting 2020 for 2019 and
2021 for 2020.

IX. Reporting Requirements for
Changes for the 2020 Plan Year

The collections of information contained in this notice have been reviewed
and approved by the Office of Management and Budget in accordance with the
Paperwork Reduction Act (44 U.S.C.
§ 3507) under control number 1545-2095.
An agency may not conduct or sponsor,
and a person is not required to respond

The amendments made by the ARP for
the 2020 plan year may affect the plan’s
minimum required contribution for the
2020 plan year, and any elections made
under the ARP that affect the minimum re-

Bulletin No. 2021–33

X. Paperwork Reduction Act

313

to, a collection of information unless the
collection of information displays a valid
OMB control number.
The collections of information in this
notice are in section IV of this notice. The
collections of information are required
to implement the application of §§ 9705
and 9706 of the ARP. The collections
of information are mandatory for those
plan sponsors making an election under
§§ 9705 and 9706 of the ARP.
The likely respondents are sponsors of
single-employer defined benefit plans.
Any potential changes on burden will
be reported through the renewal of the
current OMB approval numbers.
Estimates of the annualized cost to respondents are not available at this time.
Books or records relating to a collection of information must be retained as
long as their contents may become material in the administration of any internal
revenue law. Generally, tax returns and tax
return information are confidential, as required by § 6103 of the Code.
XI. Drafting Information
The principal author of this notice is
Tom Morgan of the Office of the Associate Chief Counsel (Employee Benefits,
Exempt Organizations, and Employment
Taxes). However, other personnel from
the IRS participated in the development
of this guidance. For further information
regarding this notice, contact Mr. Morgan
or Linda Marshall at 202-317-6700 (not a
toll-free number).

August 16, 2021

Part IV
U.S.-U.K. Competent Authority Arrangement
Announcement 2021-13
The following is a copy of the Competent Authority Arrangement entered into by the competent authorities of the United States
and the United Kingdom under paragraph 3 of Article 26 (Mutual Agreement Procedure) in which it is agreed that references to the
term “North American Free Trade Agreement” in paragraph 7 of Article 23 (Limitation on Benefits) of the Convention between the
United States of America and the United Kingdom of Great Britain and Northern Ireland for the Avoidance of Double Taxation and
Prevention of Fiscal Evasion with Respect to Taxes on Income and on Capital Gains signed at London on July 24, 2001, as amended
by the Protocol signed on July 19, 2002, shall be understood as references to the term “United States-Mexico-Canada Agreement”
(“USMCA”) upon entry into force of the USMCA.
The text of the Competent Authority Arrangement is as follows:
COMPETENT AUTHORITY ARRANGEMENT
The competent authorities of the United Kingdom and the United States enter into this arrangement (the “Arrangement”) regarding
the interpretation of the term “North American Free Trade Agreement” referred to in subparagraph d) of paragraph 7 of Article 23
(Limitation on Benefits) of the Convention between the United States of America and the United Kingdom of Great Britain and
Northern Ireland for the Avoidance of Double Taxation and Prevention of Fiscal Evasion with Respect to Taxes on Income and on
Capital Gains signed at London on July 24, 2001, as amended by the Protocol signed on July 19, 2002 (the “Treaty”).
Pursuant to paragraph 1 of the Protocol Replacing the North American Free Trade Agreement with the Agreement between the United States of America, the United Mexican States, and Canada, done at Buenos Aires on November 30, 2018 (the “Agreement”), as
amended by the Protocol of Amendment to that Agreement, done at Mexico City on December 10, 2019 (the “Protocol of Amendment” and collectively with the Agreement, the “USMCA”), the USMCA will supersede the North American Free Trade Agreement
(the “NAFTA”). The USMCA modernizes NAFTA, is entered into by the same parties, and governs the standards for trade and
investment among the parties going forward.
Pursuant to paragraph 3 of Article 26 (Mutual Agreement Procedure) of the Treaty, the competent authorities of the United Kingdom
and the United States agree that the references to the NAFTA in subparagraph d) of paragraph 7 of Article 23 of the Treaty shall be
understood as references to the USMCA upon entry into force of the USMCA.
Agreed to by the undersigned competent authorities:
/s/ Nikole C. Flax
U.S. Competent Authority
Nikole C. Flax
Internal Revenue Service

/s/ Daniel Berry
U.K. Competent Authority
Daniel Berry
HM Revenue and Customs

Date: July 26, 2021

Date: July 21, 2021

August 16, 2021

314

Bulletin No. 2021–33

U.S.-U.K. Competent Authority Arrangement
Announcement 2021-14
The following is a copy of the Competent Authority Arrangement entered into by the competent authorities of the United States
and the United Kingdom under paragraph 3 of Article 26 (Mutual Agreement Procedure) regarding the eligibility of U.K. residents
to qualify as equivalent beneficiaries for purposes of applying the derivative benefits test in paragraph 3 of Article 23 (Limitation on
Benefits) of the Convention Between the United States of America and the United Kingdom of Great Britain and Northern Ireland for
the Avoidance of Double Taxation and Prevention of Fiscal Evasion with Respect to Taxes on Income and on Capital Gains signed at
London on July 24, 2001, as amended by the Protocol signed on July 19, 2002.
The text of the Competent Authority Arrangement is as follows:
COMPETENT AUTHORITY ARRANGEMENT
The competent authorities of the United States and the United Kingdom enter into this arrangement (the “Arrangement”) under the
Convention between the United States of America and the United Kingdom of Great Britain and Northern Ireland for the Avoidance
of Double Taxation and Prevention of Fiscal Evasion with Respect to Taxes on Income and on Capital Gains signed at London on
July 24, 2001, as amended by the Protocol signed on July 19, 2002 (the “Treaty”). The Arrangement is entered into under paragraph
3 of Article 26 (Mutual Agreement Procedure) of the Treaty.
It has come to the attention of the competent authorities that the withdrawal of the United Kingdom from the European Union has
created uncertainty as to whether a person resident in the United Kingdom may continue to be considered a “resident of a Member
State of the European Community” for the purposes of applying the so-called “derivative benefits test” in paragraph 3 of Article 23
(Limitation on benefits) of the Treaty, including the term “equivalent beneficiary,” as defined in subparagraph (d) of paragraph 7 of
Article 23.
Paragraph 7(d) of Article 23 states in relevant part that “an equivalent beneficiary is a resident of a Member State of the European
Community . . .” provided that such resident satisfies certain tests in Article 23.
The competent authorities agree that, for the purposes of applying paragraph 7(d) of Article 23, a “resident of a Member State of the
European Community” continues to include a resident of the United Kingdom. This interpretation reflects the shared understanding
of the competent authorities that residents of either Contracting State should be eligible to qualify as equivalent beneficiaries for
purposes of applying the derivative benefits test in paragraph 3 of Article 23.
Agreed to by the undersigned competent authorities:
/s/ Nikole C. Flax
U.S. Competent Authority
Nikole C. Flax
Internal Revenue Service

/s/ Daniel Berry
U.K. Competent Authority
Daniel Berry
HM Revenue and Customs

Date: July 26, 2021

Date: July 21, 2021

Bulletin No. 2021–33

315

August 16, 2021

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. 2021–33

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.

August 16, 2021

Numerical Finding List1
Bulletin 2021–33

Announcements:
2021-12, 2021-31 I.R.B. 267
2021-13, 2021-33 I.R.B. 314
2021-14, 2021-33 I.R.B. 315

Notices:
2021-39, 2021-27 I.R.B. 3
2021-40, 2021-28 I.R.B. 15
2021-41, 2021-29 I.R.B. 17
2021-42, 2021-29 I.R.B. 19
2021-38, 2021-30 I.R.B. 155
2021-44, 2021-31 I.R.B. 166
2021-45, 2021-31 I.R.B. 170
2021-47, 2021-32 I.R.B. 269
2021-46, 2021-33 I.R.B. 303
2021-48, 2021-33 I.R.B. 305

Proposed Regulations:
REG-107705-21, 2021-30 I.R.B. 162
REG-102951-16, 2021-32 I.R.B. 272

Revenue Procedures:
2021-28, 2021-27 I.R.B. 5
2021-29, 2021-27 I.R.B. 12
2021-24, 2021-29 I.R.B. 19
2021-14, 2021-30 I.R.B. 158
2021-30, 2021-31 I.R.B. 172

Revenue Rulings:
2021-12, 2021-27 I.R.B. 1
2021-13, 2021-30 I.R.B. 152
2021-14, 2021-31 I.R.B. 164

Treasury Decisions:
9951, 2021-30 I.R.B. 25

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

August 16, 2021

ii

Bulletin No. 2021–33

Finding List of Current Actions on
Previously Published Items1
Bulletin 2021–33

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. 2021–33

iii

August 16, 2021

Internal Revenue Service
Washington, DC 20224
Official Business
Penalty for Private Use, $300

INTERNAL REVENUE BULLETIN

The Introduction at the beginning of this issue describes the purpose and content of this publication. The weekly Internal Revenue
Bulletins are available at www.irs.gov/irb/.

We Welcome Comments About the Internal Revenue Bulletin

If you have comments concerning the format or production of the Internal Revenue Bulletin or suggestions for improving it,
we would be pleased to hear from you. You can email us your suggestions or comments through the IRS Internet Home Page
www.irs.gov) or write to the Internal Revenue Service, Publishing Division, IRB Publishing Program Desk, 1111 Constitution Ave.
NW, IR-6230 Washington, DC 20224.

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Source: Frix Law Library, https://www.frixlaw.com/law-library/documents/agency%3Airs%3A7789c6c01c09a2bb. Public record. Not legal advice.