Bulletin No. 2024–36

HIGHLIGHTS

OF THIS ISSUE





Bulletin No. 2024–36

September 3, 2024

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.

ADMINISTRATIVE, EMPLOYMENT

TAX, INCOME TAX, SPECIAL

ANNOUNCEMENT

2024 used under § 417(e)(3)(D), the 24-month average segment rates applicable for August 2024, and the 30-year Treasury rates, as reflected by the application of § 430(h)(2)(C)(iv).

Announcement 2024-30, page 581.

This notice provides guidance in the form of questions

and answers on section 110 of the SECURE 2.0 Act of

2022. Section 110 allows employers to make matching

contributions on account of employees’ qualified student

loan payments (QSLPs) under certain defined contribution

retirement plans. The notice also states that the Treasury

Department and the IRS anticipate issuing proposed regulations with respect to section 110 and requests comments.

This announcement announces a second Voluntary Disclosure

Program for taxpayers to resolve refunds or credits for erroneous Employee Retention Credit claims. The announcement

explains taxpayer eligibility criteria, terms, and procedures

for taxpayers electing to participate in the second Voluntary

Disclosure Program. The announcement is intended to provide taxpayers an opportunity to efficiently resolve their civil

tax liabilities under this second Voluntary Disclosure Program

and avoid potential litigation.

EMPLOYEE PLANS

Notice 2024-62, page 570.

This notice sets forth updates on the corporate bond monthly

yield curve, the corresponding spot segment rates for July

Finding Lists begin on page ii.

Notice 2024-63, page 573.

INCOME TAX

Rev. Rul. 2024-17, page 568.

Federal rates; adjusted federal rates; adjusted federal longterm rate, and the long-term tax exempt rate. For purposes

of sections 382, 1274, 1288, 7872 and other sections of

the Code, tables set forth the rates for September 2024..

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.

September 3, 2024 

Bulletin No. 2024–36

Part I

Section 1274.—

Determination of Issue

Price in the Case of Certain

Debt Instruments Issued for

Property

(Also Sections 42, 280G, 382, 467, 468, 482, 483,

1288, 7520, 7872.)

Rev. Rul. 2024-17

This revenue ruling provides various prescribed rates for federal income

AFR

110% AFR

120% AFR

130% AFR

AFR

110% AFR

120% AFR

130% AFR

150% AFR

175% AFR

AFR

110% AFR

120% AFR

130% AFR

Short-term adjusted AFR

Mid-term adjusted AFR

Long-term adjusted AFR

September 3, 2024

tax purposes for September 2024 (the

current month). Table 1 contains the

short-term, mid-term, and long-term

applicable federal rates (AFR) for the

current month for purposes of section

1274(d) of the Internal Revenue Code.

Table 2 contains the short-term, midterm, and long-term adjusted applicable federal rates (adjusted AFR) for the

current month for purposes of section

1288(b). Table 3 sets forth the adjusted

federal long-term rate and the longterm tax-exempt rate described in section 382(f). Table 4 contains the appro-

priate percentages for determining the

low-income housing credit described in

section 42(b)(1) for buildings placed in

service during the current month. However, under section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service

after July 30, 2008, shall not be less

than 9%. Finally, Table 5 contains the

federal rate for determining the present

value of an annuity, an interest for life

or for a term of years, or a remainder or

a reversionary interest for purposes of

section 7520.

REV. RUL. 2024-17 TABLE 1

Applicable Federal Rates (AFR) for September 2024

Period for Compounding

Annual

Semiannual

Quarterly

Short-term

4.57%

4.52%

4.49%

5.03%

4.97%

4.94%

5.49%

5.42%

5.38%

5.97%

5.88%

5.84%

Mid-term

4.02%

3.98%

3.96%

4.43%

4.38%

4.36%

4.84%

4.78%

4.75%

5.24%

5.17%

5.14%

6.06%

5.97%

5.93%

7.09%

6.97%

6.91%

Long-term

4.37%

4.32%

4.30%

4.81%

4.75%

4.72%

5.25%

5.18%

5.15%

5.70%

5.62%

5.58%

Annual

3.46%

3.04%

3.31%

REV. RUL. 2024-17 TABLE 2

Adjusted AFR for September 2024

Period for Compounding

Semiannual

3.43%

3.02%

3.28%

568

Monthly

4.48%

4.92%

5.36%

5.81%

3.95%

4.34%

4.73%

5.12%

5.90%

6.87%

4.28%

4.70%

5.12%

5.56%

Quarterly

3.42%

3.01%

3.27%

Monthly

3.41%

3.00%

3.26%

Bulletin No. 2024–36

REV. RUL. 2024-17 TABLE 3

Rates Under Section 382 for September 2024

Adjusted federal long-term rate for the current month

Long-term tax-exempt rate for ownership changes during the current month (the highest of the adjusted federal

long-term rates for the current month and the prior two months.)

3.31%

3.49%

REV. RUL. 2024-17 TABLE 4

Appropriate Percentages Under Section 42(b)(1) for September 2024

Note: Under section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after

July 30, 2008, shall not be less than 9%.

Appropriate percentage for the 70% present value low-income housing credit

7.97%

Appropriate percentage for the 30% present value low-income housing credit

3.42%

REV. RUL. 2024-17 TABLE 5

Rate Under Section 7520 for September 2024

Applicable federal rate for determining the present value of an annuity, an interest for life or a term of years,

or a remainder or reversionary interest

Section 42.—Low-Income

Housing Credit

The applicable federal short-term, mid-term,

and long-term rates are set forth for the month of

September 2024. See Rev. Rul. 2024-17, page 568.

Section 280G.—Golden

Parachute Payments

The applicable federal short-term, mid-term,

and long-term rates are set forth for the month of

September 2024. See Rev. Rul. 2024-17, page 568.

Section 382.—Limitation

on Net Operating Loss

Carryforwards and

Certain Built-In Losses

Following Ownership

Change

The adjusted applicable federal long-term rate

is set forth for the month of September 2024. See

Rev. Rul. 2024-17, page 568.

Section 467.—Certain

Payments for the Use of

Property or Services

The applicable federal short-term, mid-term,

and long-term rates are set forth for the month of

September 2024. See Rev. Rul. 2024-17, page 568.

Section 468.—Special

Rules for Mining and Solid

Waste Reclamation and

Closing Costs

The applicable federal short-term rates are set

forth for the month of September 2024. See Rev.

Rul. 2024-17, page 568.

Section 482.—Allocation

of Income and Deductions

Among Taxpayers

The applicable federal short-term, mid-term,

and long-term rates are set forth for the month of

September 2024. See Rev. Rul. 2024-17, page 568.

4.8%

Section 483.—Interest on

Certain Deferred Payments

The applicable federal short-term, mid-term,

and long-term rates are set forth for the month of

September 2024. See Rev. Rul. 2024-17, page 568.

Section 1288.—Treatment

of Original Issue Discount

on Tax-Exempt Obligations

The adjusted applicable federal short-term, midterm, and long-term rates are set forth for the month

of September 2024. See Rev. Rul. 2024-17, page 568.

Section 7520.—Valuation

Tables

The applicable federal mid-term rates are set

forth for the month of September 2024. See Rev.

Rul. 2024-17, page 568.

Section 7872.—Treatment

of Loans With BelowMarket Interest Rates

The applicable federal short-term, mid-term,

and long-term rates are set forth for the month of

September 2024. See Rev. Rul. 2024-17, page 568.

Bulletin No. 2024–36

569

September 3, 2024

Part III

Update for Weighted

Average Interest Rates,

Yield Curves, and Segment

Rates

Notice 2024-62

This notice provides guidance on the

corporate bond monthly yield curve, the

corresponding spot segment rates used

under § 417(e)(3), and the 24-month average segment rates under § 430(h)(2) of the

Internal Revenue Code. In addition, this

notice provides guidance as to the interest rate on 30-year Treasury securities

under § 417(e)(3)(A)(ii)(II) as in effect for

plan years beginning before 2008 and the

30-year Treasury weighted average rate

under § 431(c)(6)(E)(ii)(I).

YIELD CURVE AND SEGMENT

RATES

Section 430 specifies the minimum

funding requirements that apply to single-employer plans (except for CSEC plans

Applicable Month

August 2024

under § 414(y)) pursuant to § 412. Section

430(h)(2) specifies the interest rates that

must be used to determine a plan’s target

normal cost and funding target. Under

this provision, present value is generally

determined using three 24-month average

interest rates (“segment rates”), each of

which applies to cash flows during specified periods. To the extent provided under

§ 430(h)(2)(C)(iv), these segment rates

are adjusted by the applicable percentage

of the 25-year average segment rates for

the period ending September 30 of the

year preceding the calendar year in which

the plan year begins.1 However, an election may be made under § 430(h)(2)(D)

(ii) to use the monthly yield curve in place

of the segment rates.

Section 1.430(h)(2)-1(d) provides

rules for determining the monthly corporate bond yield curve,2 and § 1.430(h)

(2)-1(c) provides rules for determining

the 24-month average corporate bond

segment rates used to compute the target

normal cost and the funding target. Consistent with the methodology specified in

§ 1.430(h)(2)-1(d), the monthly corporate

bond yield curve derived from July 2024

data is in Table 2024-7 at the end of this

notice. The spot first, second, and third

segment rates for the month of July 2024

are, respectively, 4.92, 5.25, and 5.59.

The 24-month average segment rates

determined under § 430(h)(2)(C)(i)

through (iii) must be adjusted pursuant to §

430(h)(2)(C)(iv) to be within the applicable minimum and maximum percentages

of the corresponding 25-year average segment rates. For this purpose, any 25-year

average segment rate that is less than 5%

is deemed to be 5%. The 25-year average

segment rates for plan years beginning in

2023 and 2024 were published in Notice

2022-40, 2022-40 I.R.B. 266 and Notice

2023-66, 2023-40 I.R.B. 992, respectively. The applicable minimum and maximum percentages are 95% and 105% for

plan years beginning in 2023 and 2024.

24-MONTH AVERAGE CORPORATE

BOND SEGMENT RATES

The three 24-month average corporate

bond segment rates applicable for August

2024 without adjustment for the 25-year

average segment rate limits are as follows:

24-Month Average Segment Rates Without 25-Year Average Adjustment

First Segment

Second Segment

5.04

5.32

The adjusted 24-month average segment rates set forth in the chart below

reflect § 430(h)(2)(C)(iv) of the Code. The

24-month averages applicable for August

2024, adjusted to be within the applicable

minimum and maximum percentages of

Third Segment

5.33

the corresponding 25-year average segment rates in accordance with § 430(h)(2)

(C)(iv) of the Code, are as follows:

Adjusted 24-Month Average Segment Rates

For Plan Years

Beginning In

Applicable Month

First Segment

Second Segment

Third Segment

2023

August 2024

5.04

5.32

5.74

2024

August 2024

5.04

5.32

5.59

30-YEAR TREASURY SECURITIES

INTEREST RATES

Section 431 specifies the minimum

funding requirements that apply to multi-

employer plans pursuant to § 412. Section

431(c)(6)(B) specifies a minimum amount

for the full-funding limitation described in

§ 431(c)(6)(A), based on the plan’s current

liability. Section 431(c)(6)(E)(ii)(I) pro-

vides that the interest rate used to calculate

current liability for this purpose must be

no more than 5 percent above and no more

than 10 percent below the weighted average of the rates of interest on 30-year Trea-

Pursuant to § 433(h)(3)(A), the third segment rate determined under § 430(h)(2)(C) is used to determine the current liability of a CSEC plan (which is used to calculate the minimum amount

of the full funding limitation under § 433(c)(7)(C)).

2

For months before February 2024, the monthly corporate bond yield curve was determined in accordance with Notice 2007-81, 2007-44 I.R.B. 899. Section 1.430(h)(2)-1(d) generally adopts

the methodology for determining the monthly corporate bond yield curve under Notice 2007-81 but includes two enhancements to take into account subsequent changes in the bond market.

Those enhancements are described in the preamble to TD 9986 (89 FR 2127).

1

September 3, 2024

570

Bulletin No. 2024–36

sury securities during the four-year period

ending on the last day before the beginning

of the plan year. Notice 88-73, 1988-2 C.B.

383, provides guidelines for determining

the weighted average interest rate. The rate

of interest on 30-year Treasury securities

for July 2024 is 4.46 percent. The Service

determined this rate as the average of the

daily determinations of yield on the 30-year

Treasury bond maturing in May 2054. For

plan years beginning in August 2024, the

weighted average of the rates of interest on

30-year Treasury securities and the permissible range of rates used to calculate current

liability are as follows:

For Plan Years Beginning In

Treasury Weighted Average Rates

30-Year Treasury Weighted Average

Permissible Range 90% to 105%

August 2024

3.58

3.22 to 3.76

under § 417(e)(3)(D) are segment rates

computed without regard to a 24-month

average. Section 1.417(e)-1(d)(3) and

Notice 2007-81 provide guidelines for

determining the minimum present value

segment rates. Pursuant to those guidelines,

the minimum present value segment rates

determined for July 2024 are as follows:

MINIMUM PRESENT VALUE

SEGMENT RATES

In general, the applicable interest rates

Month

July 2024

Minimum Present Value Segment Rates

First Segment

Second Segment

4.92

5.25

DRAFTING INFORMATION

The principal author of this notice

is Tom Morgan of the Office of Associ-

Bulletin No. 2024–36

ate Chief Counsel (Employee Benefits,

Exempt Organizations, and Employment

Taxes). However, other personnel from

the IRS participated in the development

571

Third Segment

5.59

of this guidance. For further information

regarding this notice, contact Mr. Morgan

at 202-317-6700 or Tony Montanaro at

626-927-1475 (not toll-free numbers).

September 3, 2024

Table 2024-7

Monthly Yield Curve for July 2024

Derived from July 2024 Data

Maturity

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

5.0

5.5

6.0

6.5

7.0

7.5

8.0

8.5

9.0

9.5

10.0

10.5

11.0

11.5

12.0

12.5

13.0

13.5

14.0

14.5

15.0

15.5

16.0

16.5

17.0

17.5

18.0

18.5

19.0

19.5

20.0

Yield

5.39

5.21

5.05

4.93

4.84

4.78

4.75

4.74

4.74

4.75

4.78

4.81

4.85

4.89

4.93

4.97

5.02

5.06

5.10

5.14

5.17

5.21

5.24

5.27

5.30

5.33

5.36

5.38

5.40

5.42

5.44

5.45

5.47

5.48

5.49

5.51

5.51

5.52

5.53

5.54

September 3, 2024

Maturity

20.5

21.0

21.5

22.0

22.5

23.0

23.5

24.0

24.5

25.0

25.5

26.0

26.5

27.0

27.5

28.0

28.5

29.0

29.5

30.0

30.5

31.0

31.5

32.0

32.5

33.0

33.5

34.0

34.5

35.0

35.5

36.0

36.5

37.0

37.5

38.0

38.5

39.0

39.5

40.0

Yield

5.54

5.54

5.55

5.55

5.55

5.55

5.55

5.55

5.55

5.54

5.54

5.54

5.54

5.54

5.54

5.54

5.54

5.54

5.54

5.55

5.55

5.55

5.55

5.56

5.56

5.56

5.57

5.57

5.57

5.57

5.58

5.58

5.58

5.58

5.59

5.59

5.59

5.59

5.59

5.60

Maturity

40.5

41.0

41.5

42.0

42.5

43.0

43.5

44.0

44.5

45.0

45.5

46.0

46.5

47.0

47.5

48.0

48.5

49.0

49.5

50.0

50.5

51.0

51.5

52.0

52.5

53.0

53.5

54.0

54.5

55.0

55.5

56.0

56.5

57.0

57.5

58.0

58.5

59.0

59.5

60.0

Yield

5.60

5.60

5.60

5.60

5.60

5.61

5.61

5.61

5.61

5.61

5.61

5.61

5.62

5.62

5.62

5.62

5.62

5.62

5.62

5.63

5.63

5.63

5.63

5.63

5.63

5.63

5.63

5.63

5.64

5.64

5.64

5.64

5.64

5.64

5.64

5.64

5.64

5.64

5.64

5.65

572

Maturity

60.5

61.0

61.5

62.0

62.5

63.0

63.5

64.0

64.5

65.0

65.5

66.0

66.5

67.0

67.5

68.0

68.5

69.0

69.5

70.0

70.5

71.0

71.5

72.0

72.5

73.0

73.5

74.0

74.5

75.0

75.5

76.0

76.5

77.0

77.5

78.0

78.5

79.0

79.5

80.0

Yield

5.65

5.65

5.65

5.65

5.65

5.65

5.65

5.65

5.65

5.65

5.65

5.65

5.65

5.66

5.66

5.66

5.66

5.66

5.66

5.66

5.66

5.66

5.66

5.66

5.66

5.66

5.66

5.66

5.66

5.67

5.67

5.67

5.67

5.67

5.67

5.67

5.67

5.67

5.67

5.67

Maturity

80.5

81.0

81.5

82.0

82.5

83.0

83.5

84.0

84.5

85.0

85.5

86.0

86.5

87.0

87.5

88.0

88.5

89.0

89.5

90.0

90.5

91.0

91.5

92.0

92.5

93.0

93.5

94.0

94.5

95.0

95.5

96.0

96.5

97.0

97.5

98.0

98.5

99.0

99.5

100.0

Yield

5.67

5.67

5.67

5.67

5.67

5.67

5.67

5.67

5.67

5.67

5.68

5.68

5.68

5.68

5.68

5.68

5.68

5.68

5.68

5.68

5.68

5.68

5.68

5.68

5.68

5.68

5.68

5.68

5.68

5.68

5.68

5.68

5.68

5.68

5.68

5.68

5.68

5.68

5.68

5.69

Bulletin No. 2024–36

Guidance Under Section

110 of the SECURE 2.0 Act

with Respect to Matching

Contributions Made on

Account of Qualified

Student Loan Payments

Notice 2024-63

I. PURPOSE

This notice provides guidance in

the form of questions and answers with

respect to section 110 of Division T of the

Consolidated Appropriations Act, 2023,

Pub. L. 117‑328, 136 Stat. 4459 (2022),

known as the SECURE 2.0 Act of 2022

(SECURE 2.0 Act). Section 110 of the

SECURE 2.0 Act allows employers to

make matching contributions on account

of employees’ qualified student loan

payments (QSLPs) under section 401(k)

plans, section 403(b) plans, SIMPLE IRA

plans, and governmental section 457(b)

plans (QSLP matches). Section 110 of

the SECURE 2.0 Act applies to contributions made for plan years beginning after

December 31, 2023.

This notice provides guidance on

discrete issues under section 110 of the

SECURE 2.0 Act to assist plan sponsors

in implementing QSLP match programs.

The Department of the Treasury (Treasury

Department) and the Internal Revenue

Service (IRS) anticipate issuing proposed

regulations with respect to section 110 of

the SECURE 2.0 Act, and, accordingly,

invite comments on this notice and any

other aspect of section 110.

II. BACKGROUND

Section 221(d)(1) of the Internal Revenue Code (the Code) defines a qualified education loan as any indebtedness

incurred by a taxpayer solely to pay qualified higher education expenses, subject

to the conditions of section 221(d)(1)

(A)-(C), which provide that the qualified

higher education expenses must be (i)

incurred on behalf of the taxpayer, the

taxpayer’s spouse, or any dependent of the

taxpayer as of the time the indebtedness

was incurred, (ii) paid or incurred within

Bulletin No. 2024–36

a reasonable period of time before or after

the indebtedness is incurred, and (iii)

attributable to education furnished during

a period during which the recipient was an

eligible student.

Section 401(a) sets forth requirements

for a trust that forms part of a qualified

retirement plan to constitute a qualified

trust.

Section 401(k)(3) sets forth participation and nondiscrimination standards for

qualified cash or deferred arrangements

(CODAs). Section 401(k)(3)(A)(ii) provides that in order to be a qualified CODA

for a plan year, the actual deferral percentage (ADP) of eligible highly compensated

employees (HCEs) under the CODA may

not exceed by more than specified margins the ADP of eligible nonhighly compensated employees (NHCEs) under the

CODA for the plan year.

Section 401(m) sets forth nondiscrimination requirements with respect

to matching contributions to a defined

contribution plan. Section 401(m)(1)

provides that a defined contribution

plan is treated as meeting the requirements of section 401(a)(4) with respect

to the amount of any matching contribution or employee contribution for a plan

year only if the plan passes the actual contribution percentage requirement of section 401(m)(2) (the ACP test).

Section 403(b) sets forth requirements applicable to contributions to a

section 403(b) plan made for employees

who are performing services for a public

school of a State or a local government

or for employees of employers that are

tax-exempt organizations under section

501(c)(3). Section 403(b)(12)(A)(i) provides that the requirements of section

401(m) apply to matching contributions

made to a section 403(b) plan in the same

manner as if the plan were a qualified

retirement plan.

Section 408(p) sets forth requirements

for making employee salary reduction

contributions and nonelective employer

and matching contributions to an employee’s SIMPLE IRA pursuant to a SIMPLE

IRA plan.

Section 410(b) sets forth minimum

coverage requirements for a plan to constitute a qualified trust under section 401(a).

Section 457(b) sets forth requirements

for a plan to constitute an eligible deferred

573

compensation plan. Section 457(b) provides that an eligible deferred compensation plan is a plan established and maintained by an eligible employer that covers

only individuals who perform service for

the employer, and that meets the deferral

limitations described in section 457(b)

(2). Section 457(e)(1)(A) provides that

an eligible employer is a State, a political

subdivision of a State, and any agency or

instrumentality of a State or political subdivision of a State.

Section 4979 provides for an excise

tax on excess contributions and excess

aggregate contributions (excess contributions result from a plan failing the

ADP test, and excess aggregate contributions result from a plan failing the

ACP test). Section 4979(f)(1) provides

for an exception to the tax to the extent

excess contributions or excess aggregate

contributions are corrected before the

close of the first 2½ months of the following plan year. This correction period

is extended to the close of the first six

months of the following plan year in the

case of an eligible automatic contribution arrangement, as defined in section

414(w)(3) (EACA).

Section 1.401(m)-1(b)(4) sets forth

the exclusive rules for aggregating and

disaggregating

defined

contribution

plans that provide for employee contributions and matching contributions.

Under § 1.401(m)-1(b)(4)(iii), a plan

is defined as a plan within the meaning

of § 1.410(b)-7(a) and (b), after application of the mandatory disaggregation rules

of § 1.410(b)-7(c) (including disaggregation rules for plans that cover both collectively bargained and non-collectively

bargained employees) and the permissive

aggregation rules of § 1.410(b)-7(d), as

modified by § 1.401(m)‑1(b)(4)(v). Section 1.410(b)‑7(c)(4)(i)(A) requires that if

a plan has multiple disaggregation populations, the disaggregation populations must

be disaggregated and treated as separate

plans.

Section 1.401(m)-2(a)(4) sets forth

timing rules for taking into account

employee contributions and matching

contributions under the ACP test. Under

§ 1.401(m)‑2(a)(4)(iii), a matching contribution is taken into account in determining

the actual contribution ratio (as defined in

§ 1.401(m)-5) for an eligible employee for

September 3, 2024

a plan year or applicable year only if (a)

the matching contribution is allocated to

the employee’s account under the terms of

the plan as of a date within that year,

(b) the matching contribution is made

on account of (or the matching contribution

is allocated on the basis of) the employee’s elective deferrals or employee contributions for that year, and (c) the matching

contribution is actually paid to the trust no

later than the end of the 12-month period

immediately following the year that contains that date.

Section 110(a) of the SECURE 2.0

Act added section 401(m)(4)(A)(iii) of

the Code, which amends the definition

of matching contributions to include

employer contributions made to a defined

contribution plan on account of an

employee’s QSLP.

Section 110(b) of the SECURE 2.0

Act added section 401(m)(4)(D) of the

Code, which defines a QSLP as a payment that was made by an employee in

repayment of a qualified education loan

(as defined in section 221(d)(1)) incurred

by the employee to pay qualified higher

education expenses, subject to the section

401(m)(4)(D)(i) amount limitation and

the section 401(m)(4)(D)(ii) certification

requirement.

Pursuant to section 401(m)(4)(D)(i),

the amount of an employee’s aggregate

qualified education loan payments for a

year that can be QSLPs cannot exceed an

amount equal to the limitation applicable

under section 402(g) for the year (or, if an

employee’s compensation under section

415(c)(3) for the year is less than the limitation applicable under section 402(g) for

the year, the employee’s compensation),

reduced by the employee’s elective deferrals for the year.

Pursuant to section 401(m)(4)(D)(ii),

for a qualified education loan payment

to be a QSLP, the employee making the

qualified education loan payment must

certify annually to the employer making

the matching contribution that payment

has been made on the loan.

For purposes of a QSLP, the term qualified higher education expenses means the

cost of attendance (as defined in section

472 of the Higher Education Act of 1965,

as in effect on the day before the date of

the enactment of the Taxpayer Relief Act

of 1997) at an eligible educational insti-

September 3, 2024

tution (as defined in section 221(d)(2) of

the Code).

Section 110(c) of the SECURE 2.0

Act added section 401(m)(13) of the

Code, which provides, in part, that QSLP

matches shall be treated as matching

contributions if the following requirements of section 401(m)(13)(A)(i)-(iv)

are satisfied: (i) a plan provides matching contributions on account of elective

deferrals (elective deferral matches) at

the same rate it provides QSLP matches;

(ii) the plan provides QSLP matches only

on behalf of employees otherwise eligible to receive elective deferral matches;

(iii) under the plan, all employees who

are eligible to receive elective deferral

matches are eligible to receive QSLP

matches; and (iv) the plan provides that

QSLP matches vest in the same manner as elective deferral matches. Section 401(m)(13)(B)(i) provides that, for

purposes of section 401(m)(13)(A)(iii),

section 401(a)(4), and section 410(b),

QSLP matches shall not fail to be treated

as available to an employee solely

because the employee does not have

debt incurred under a qualified education

loan. In addition, section 401(m)(13)

(B)(iv) provides that the elective deferrals of employees who receive QSLP

matches may be tested separately from

the elective deferrals of other employees for purposes of the ADP test of section 401(k)(3)(A)(ii). Section 401(m)

(13)(C) states that an employer may rely

on an employee certification of payment

under section 401(m)(4)(D)(ii).

Section 110(d) of the SECURE 2.0 Act

added section 408(p)(2)(F) of the Code,

which provides that an arrangement under

a SIMPLE IRA plan shall not fail to be

a qualified salary reduction agreement

solely because QSLPs are treated as elective employer contributions (pursuant to

section 408(p)(2)(A)(i)(I)) under the plan.

Section 408(p)(2)(F) includes rules for

SIMPLE IRAs that include a QSLP match

feature that are generally analogous to the

QSLP match rules in section 401(m)(4)

(D) and 401(m)(13).

Section 110(e) of the SECURE 2.0 Act

amended section 403(b)(12)(A) of the

Code to provide that whether a section

403(b) plan offers a QSLP match shall

not be taken into account for purposes of

determining whether the plan satisfies the

574

universal availability requirement of section 403(b)(12)(A)(ii).

Section 110(f) of the SECURE 2.0 Act

amended section 457(b) of the Code to

state, in part, that a section 457(b) plan

maintained by an employer described in

section 457(e)(1)(A) (governmental section 457(b) plan) shall not fail to be an eligible deferred compensation plan merely

because that plan, or a section 401(a)

or 403(b) plan maintained by the same

employer, adopts a QSLP match feature as

described in section 401(m)(13).

Section 110(g) of the SECURE 2.0 Act

provides for the Secretary of the Treasury

(or the Secretary’s delegate) to prescribe

regulations for purposes of implementing

section 110, including regulations:

(1) permitting a plan to make QSLP

matches at a different frequency than

matching contributions are otherwise

made under the plan, provided that the

frequency is not less than annually;

(2) permitting employers to establish

reasonable procedures to claim QSLP

matches under the plan, including an

annual deadline (not earlier than three

months after the close of each plan year)

by which a claim must be made; and

(3) promulgating model amendments

which plans may adopt to implement

QSLP matches for purposes of sections

401(m), 408(p), 403(b), and 457(b) of the

Code.

III. GUIDANCE ON SECTION 110

OF THE SECURE 2.0 ACT

A. QSLP Match Overview

Q. A-1: What is a QSLP?

A. A-1: A QSLP is a payment (1) made

by an employee during a plan year in

repayment of a qualified education loan

incurred by the employee to pay for qualified higher education expenses of the

employee, the employee’s spouse, or the

employee’s dependent, (2) that does not

exceed, when aggregated with other such

payments for the year, the section 401(m)

(4)(D)(i) amount limitation for the plan

year, and (3) certified for the plan year by

the employee in a manner that satisfies

the section 401(m)(4)(D)(ii) certification

requirement.

For a qualified education loan to be

treated as incurred by an employee, the

Bulletin No. 2024–36

employee who makes a payment on the

qualified education loan must have a legal

obligation to make the payment under the

terms of the loan. In general, a cosigner

has a legal obligation to make payments

under the terms of a loan, but, unless the

primary borrower defaults under a loan,

a guarantor does not have a legal obligation to make payments under the loan.

For example, if an eligible employee is a

cosigner on a qualified education loan for

the employee’s dependent, both the eligible employee and the dependent may have

a legal obligation to make payments under

the terms of the loan. However, only the

individual who makes payments under

the qualified education loan can receive

a QSLP match on account of those payments.

Q. A-2: What plans may include a

QSLP match feature?

A. A-2: A QSLP match feature may

be added to a section 401(k) plan, a section 403(b) plan, a SIMPLE IRA plan

under section 408(p), or a governmental section 457(b) plan. In general, this

notice describes the QSLP match rules by

referring to statutory language applicable

to plans other than SIMPLE IRAs. For

QSLP match rules specific to SIMPLE

IRA plans, see Q&A E-1 of this notice.

Q. A-3: What is an employee’s maximum QSLP for a year?

A. A-3: An employee’s maximum

QSLP for a year is described below for

section 401(k) and section 403(b) plans,

and for governmental section 457(b)

plans. For QSLP match rules specific to

SIMPLE IRA plans, see Q&A E-1 of this

notice.

(1) Section 401(k) and section 403(b)

plans

Pursuant to the QSLP definition in

section 401(m)(4)(D), an employee’s

qualified education loan payments can

be QSLPs in a section 401(k) or section

403(b) plan only to the extent such payments in the aggregate for a year do not

exceed an amount equal to the limitation applicable under section 402(g) (or,

if lesser, the employee’s compensation

as described under section 415(c)(3)),

reduced by the employee’s elective deferrals for the year.

(2) Governmental section 457(b) plans

Although the limitation applicable

under section 402(g) and the term elective deferrals are not applicable to section 457(b) plans, the reference to section 402(g) in section 401(m)(4)(D)1

provides the dollar amount used in limiting a QSLP, and a similar concept of

salary deferrals applies to section 457(b)

plans. Accordingly, for purposes of calculating the maximum QSLPs for an

employee for a year in a governmental

section 457(b) plan, the amount of the

employee’s salary deferrals under the governmental section 457(b) plan for the year

is the amount that is subtracted from the

limitation applicable under section 402(g)

(or, if lesser, the employee’s compensation as described under section 415(c)(3)).

The limitation under section 402(g) is the

same dollar amount as the applicable dollar limit under section 457(e)(15)(A).

Q. A-4: May a plan include provisions

that limit QSLP matches to only certain

qualified education loans, such as qualified education loans for an employee’s

own education, for a particular degree program (e.g., Bachelor of Arts, Juris Doctor,

or Master of Business Administration), or

for attendance at a particular school?

A. A-4: No. Section 401(m)(13)(A)

(iii) provides that all employees (except

as described in Q&A A-5 of this notice)

eligible to receive matching contributions

on account of elective deferrals must be

eligible to receive matching contributions

on account of “qualified student loan payments.”

The reference in section 401(m)(13)

(A)(iii) to qualified student loan payments

is to qualified student loan payments that

satisfy the definition in section 401(m)

(4)(D) (as described in Q&A A-1 of this

notice). Pursuant to section 401(m)(4)

(D), a qualified student loan payment is a

payment that was made by an employee

in repayment of a qualified education loan

incurred by the employee. A plan that

includes a definition of QSLP that covers only a subset of employees who have

made qualified education loan payments

will violate the requirement in section

401(m)(13)(A)(iii) that QSLP matches be

available to all employees who are eligible for elective deferral matches.2 Thus,

for example, a plan cannot limit QSLP

matches to qualified education loan payments for an employee’s own education,

for a particular degree program, or for

attendance at a particular school.

Q. A-5: May a plan with a QSLP match

feature include provisions that exclude

employees from receiving QSLP matches

even though those employees are eligible

to receive elective deferral matches, or

may a plan with a QSLP match feature

include provisions that exclude employees

from receiving elective deferral matches

even though those employees are eligible

to receive QSLP matches?

A. A-5: No. Pursuant to section 401(m)

(13)(A)(iii), all employees eligible to

receive elective deferral matches under a

plan with a QSLP match feature must be

eligible to receive QSLP matches. Also,

pursuant to section 401(m)(13)(A)(ii),

a plan with a QSLP match feature must

provide QSLP matches only on behalf

of employees eligible to receive elective deferral matches. Thus, a plan with

a QSLP match feature may not include

provisions that exclude employees from

receiving QSLP matches if those employees are eligible to receive elective deferral

matches, and a plan with a QSLP match

feature may not include provisions that

exclude employees from receiving elective deferral matches if those employees

are eligible to receive QSLP matches.

In general, this requirement of uniform

treatment for elective deferral matches

and QSLP matches applies to all employees covered by a plan, so that employees

may not be excluded from QSLP matches

on an individual employer, business

unit, division, location, or other similar

basis. However, for purposes of determining what constitutes a plan under section

401(m)(13)(A), the disaggregation rules

Section 401(m)(13), through its reference to QSLP matches, incorporates for governmental section 457(b) plans the provisions of section 401(m)(4)(D).

Section 401(m)(13)(B)(i) provides, in part, that for purposes of section 401(m)(13)(A)(iii), QSLP matches “shall not fail to be treated as available to an employee solely because the employee

does not have debt incurred under a qualified education loan.” However, section 401(m)(13)(B)(i) does not provide similar “shall not fail to be treated as available” language for an employee

who has debt incurred under a qualified education loan but is excluded from eligibility for a QSLP match under plan terms. Accordingly, if all employees with qualified education loans are

not eligible for a QSLP match under plan terms, the plan’s QSLP match will not be treated as being available to all employees under section 401(m)(13)(A)(iii).

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September 3, 2024

under § 1.410(b)-7(c)(4), including with

respect to collectively bargained employees, apply. Thus, a plan may include a

QSLP match feature that applies only to

non-collectively bargained employees

without violating section 401(m)(13)(A)

(ii) and (iii).

Example 1: Plan X is a section 401(k) plan. As

an eligibility condition for Plan X’s QSLP match,

employees must remain employed through the QSLP

match allocation date or through the last day of the

plan year, but that condition is not included for the

plan’s elective deferral match. This eligibility condition on Plan X’s QSLP match, which is not included

for the plan’s elective deferral match, causes Plan X

to violate section 401(m)(13)(A)(iii).

Example 2: Plan Y is a section 403(b) plan. As

an eligibility condition on Plan Y’s elective deferral

match, employees must remain employed through

the elective deferral match allocation date or through

the last day of the plan year, but that condition is not

included for the plan’s QSLP match. This eligibility

condition on Plan Y’s elective deferral match, which

is not included for the plan’s QSLP match, causes

Plan Y to violate section 401(m)(13)(A)(ii).

Example 3: Plan Z is a section 401(k) plan. Plan

Z covers both collectively bargained employees and

non-collectively bargained employees, and provides

elective deferral matches to all covered employees.

However, Plan Z only provides QSLP matches to

non-collectively bargained employees. Because the

portion of Plan Z that covers non-collectively bargained employees and the portion of Plan Z that

does not cover collectively bargained employees

are treated as separate plans for purposes of section

401(m)(13)(A)(iii), the exclusion of collectively bargained employees from Plan Z’s QSLP match does

not cause Plan Z to violate section 401(m)(13)(A)

(iii).

Q. A-6: May a QSLP match contributed

for a plan year be based on a qualified education loan payment that was made during

a different plan year?

A. A-6: No. Only an employee’s qualified education loan payments that were

made during a plan year are eligible to be

counted for purposes of the employee’s

QSLP match for that plan year.3 This result

is consistent with the timing rules for taking into account matching contributions

for ACP testing under § 1.401(m)-2(a)(4)

(iii).

Example 1: Even if a calendar-year plan has a

final QSLP match claim deadline with respect to Plan

Year 1 that is April 1 of Plan Year 2, an employee

who does not make any QSLPs in Plan Year 1 and

makes a QSLP on March 1 of Plan Year 2 is not eligible for a QSLP match for Plan Year 1.

Example 2: If a fiscal year plan has a plan year

that begins on July 1 of Plan Year 2, an employee

cannot receive a QSLP match for Plan Year 2 on

account of a qualified education loan payment that

was made in June of the calendar year that includes

July 1 of Plan Year 2.

B. Employee Certification of QSLPs

Q. B-1: For an employee’s qualified

education loan payment to be a QSLP,

must the employee certify that the payment satisfies the requirements to be a

QSLP?

A. B-1: Yes. A qualified education

loan payment is a QSLP only if the

section 401(m)(4)(D)(ii) certification

requirement is satisfied with respect to

that payment. A plan may require a separate certification for each qualified education loan payment intended to qualify

as a QSLP or permit an annual certification that applies for all qualified education loan payments intended to qualify as

QSLPs for a year.

Q. B-2: What items of information

about a qualified education loan payment

must be received by a plan for the QSLP

certification requirement to be satisfied?

A. B-2: To satisfy the section 401(m)

(4)(D)(ii) certification requirement with

respect to a qualified education loan payment, the following items of information must be received by a plan (including a third-party service provider acting

on behalf of the plan): (1) the amount

of the loan payment; (2) the date of the

loan payment; (3) that the payment was

made by the employee; (4) that the loan

being repaid is a qualified education loan

and was used to pay for qualified higher

education expenses of the employee,

the employee’s spouse, or the employee’s dependent; and (5) that the loan was

incurred by the employee.

The section 401(m)(4)(D)(ii) certification requirement for any required item

of information may be satisfied through

affirmative certification by the employee.

Alternatively, the section 401(m)(4)(D)

(ii) certification requirement with respect

to the amount of the loan payment in item

(1), the date of the loan payment in item

(2), and the confirmation of the employee

as payor in item (3) may be treated as satisfied through independent verification by

the employer or through passive certification by the employee. The confirmation

that the loan being repaid is a qualified

education loan in item (4) and incurred by

the employee in item (5) can be certified

only through affirmative certification by

the employee. One method of satisfying

the affirmative certification requirement

for items (4) and (5) is through loan registration whereby an employee provides

information to the plan regarding items

(4) and (5) before the first loan payment

is made for which the employee claims a

QSLP match.

For purposes of this notice, independent verification means a method of certification by which a plan is able to validate

the accuracy of items (1), (2), and (3).

For example, the independent verification

requirement with respect to items (1), (2),

and (3), including the requirement that the

loan payment be made by the employee,

is satisfied if an employer allows an

employee to make qualified education

loan payments through payroll deduction.

For purposes of this notice, passive

certification means a method of certification by which (i) an employee provides

written information about a qualified

education loan to a plan regarding items

(4) and (5), (ii) information about items

(1) and (2) is provided from the lender to

the plan, including through an employer,

(iii) the plan notifies the employee of the

information (including, if the plan uses

passive certification with respect to item

(3), a statement that the employer assumes

that item (3) has been satisfied), and (iv)

the employee is given a reasonable period

to correct the information included in the

employee notice. The employer does not

have an obligation to inquire whether item

(3) has been satisfied, so that the employer

may assume item (3) has been satisfied

unless the employer has actual knowledge

to the contrary. The employee is treated as

certifying the information provided in the

employee notice if the employee does not

correct the information within the reasonable period.

Example 1: Affirmative Certification, With or

Without Registration

Plan W is a section 401(k) plan that includes a

QSLP match feature. Under Plan W, an employee

Section 110(h) of the SECURE 2.0 Act indicates that the amendments made by section 110 shall apply to contributions made for plan years beginning after December 31, 2023. As a result, a

QSLP match cannot be made on account of qualified education loan payments paid on or before December 31, 2023 (or, for non-calendar year plans that have adopted a QSLP match feature,

before the first day of the plan year that includes the QSLP match if that date is later).

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Bulletin No. 2024–36

must make an annual affirmative certification that

includes all five items of information needed to

submit a QSLP match claim and does not require

any additional documentation to verify that information. If an employee provides the annual affirmative certification with respect to a QSLP match

claim, the section 401(m)(4)(D)(ii) certification

requirement is satisfied with respect to that QSLP

match claim.

Alternatively, if Plan W were to require that

items (4) and (5) be affirmatively certified one time

pursuant to a loan registration and that items (1),

(2), and (3) be affirmatively certified annually, the

section 401(m)(4)(D)(ii) certification requirement

would be satisfied with respect to a QSLP match

claim if an employee were to provide the required

initial loan registration and annual affirmative certifications with respect to the QSLP match claim.

Example 2: Registration and Independent Verification Through Payroll Deduction

Plan X is a section 403(b) plan that includes a

QSLP match feature, and, under the plan, qualified

education loan payments must be made through payroll deduction. To receive a QSLP match under Plan

X, an employee must register a qualified education

loan with the employer. This registration satisfies

the certification requirement for items (4) and (5). In

addition, because, under the plan, qualified education

loan payments must be made through payroll deduction, which validates the accuracy of items (1), (2),

and (3), the certification requirement for items (1),

(2), and (3) is treated as satisfied through independent verification.

Example 3: Registration and Passive Certification

Plan Y is a governmental section 457(b) plan

that includes a QSLP match feature. To receive a

QSLP match under Plan Y, an employee must register a qualified education loan with a third-party service provider. This registration satisfies the certification requirement for items (4) and (5). In addition,

the third-party service provider receives information from the qualified education loan lender about

items (1) and (2), but does not receive information

about item (3) (because the qualified education

loan lender is not able to provide information about

the source of repayments to the third-party service

provider). The third-party service provider notifies

the employee of the information received from the

lender about items (1) and (2), provides a statement

to the employee that the employer assumes that

item (3) has been satisfied (and the employer does

not have actual knowledge to the contrary), and

provides the employee with a reasonable period to

correct items (1), (2), and (3). If the employee does

not correct information about items (1), (2), and (3)

within a reasonable period, the certification requirement for items (1), (2), and (3) is treated as satisfied

through passive certification.

Q. B-3: Do the items of information

required to satisfy the section 401(m)(4)

(D)(ii) certification requirement need to

be received annually by a plan?

A. B-3: Information about items (1),

(2), and (3) must be received annually by a

plan. Information about item (4) and item

(5) does not need to be received annually

by a plan if the employee registers the

loan with the plan. However, if a qualified education loan is refinanced or the

information contained in items (4) and (5)

otherwise changes, updated information

must be received by the plan about items

(4) and (5), for example, through re-registration of the loan, in order for the section

401(m)(4)(D)(ii) certification requirement

to be satisfied.

C. QSLP Match Reasonable

Procedures

Q. C-1: What administrative procedures may a plan establish to implement a

QSLP match feature?

A. C-1: A plan may establish any reasonable administrative procedures to

implement a QSLP match feature. Whether

procedures are reasonable is based on all

relevant facts and circumstances, including whether QSLP matches are effectively

available to all eligible employees and

whether the procedures promote compliance with QSLP match requirements.

Reasonable procedures include, but are

not limited to, the procedures described in

this notice.

Q. C-2: What administrative procedures may a plan establish with respect to

QSLP match claim deadlines?

A. C-2: A plan may establish a single

QSLP match claim deadline for a plan

year or multiple deadlines (including, but

not limited to, quarterly deadlines) for

QSLP match claim submissions, provided

that each QSLP match claim deadline is

reasonable. As described in Q&A C-1 of

this notice, whether a plan’s QSLP match

claim deadline is reasonable is based on

all relevant facts and circumstances. In

determining whether a deadline is reasonable, relevant facts and circumstances

include whether employees have a reasonable opportunity to collect and fur-

nish claim submission documentation. An

annual deadline that is three months after

the end of a plan year is an example of a

reasonable deadline.4

Q. C-3: Must a plan require that an

employee submit verification in support of

an employee’s certification under section

401(m)(4)(D)(ii) that a qualified education loan payment is a QSLP?

A. C-3: No. Pursuant to section 401(m)

(13)(C), it is a reasonable procedure for a

plan to rely on an employee’s annual certification that a qualified education loan

payment satisfies the requirements to be

a QSLP, without requiring any supporting

verification.

A plan may, however, require verification that an employee’s qualified education

loan payment satisfies the requirements to

be a QSLP, provided that the verification

is made pursuant to established reasonable

procedures. As described in Q&A C-1 of

this notice, whether a plan’s QSLP verification procedures are reasonable is based

on all relevant facts and circumstances.

In determining whether verification procedures are reasonable, relevant facts and

circumstances include whether the verification procedures are reasonably available

to a particular employee or for a particular

qualified education loan.

Accordingly, a plan may establish reasonable procedures that require independent verification that an employee has

made payments during a plan year on a

qualified education loan, or passive certification by the employee. However, a plan

may not establish independent verification

or passive certification procedures that are

not reasonably available with respect to a

particular employee. For example, a plan

may require independent verification of a

payment based on the transfer of loan data

to the plan’s third-party service provider

only if the plan permits an employee who

does not have the ability to transfer loan

data to a plan’s third-party service provider to verify the employee’s qualified

education loan payment by other reasonable means, such as by submission of cancelled checks or qualified education loan

statements.

The Treasury Department and the IRS received comments expressing concern about the potential for the imposition of section 4979 excise taxes on excess contributions and excess aggregate

contributions as a result of QSLP matches claimed after the 2½-month correction deadline under section 4979. Plans that adopt a QSLP match feature may avoid this excise tax concern by

either adopting EACA provisions or adopting reasonable QSLP match claim deadlines that are earlier than 2½ months after the end of a plan year.

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September 3, 2024

D. QSLP ADP Testing

Q. D-1: For a plan that includes a

QSLP match feature, how is optional separate ADP testing applied pursuant to section 401(m)(13)(B)(iv)?

A. D-1: A plan that includes a QSLP

match feature may apply ADP testing

pursuant to section 401(m)(13)(B)(iv) by

applying a single ADP test for all employees or by applying a separate ADP test for

employees who receive QSLP matches

and a main ADP test that includes employees who do not receive QSLP matches. A

plan that applies a separate ADP test for

employees who receive QSLP matches

may use either of the methods described

below (Method 1 or Method 2). These

alternative methods provide testing flexibility so that section 401(m)(13)(B)

(iv) provides ADP testing relief without

regard to whether employees who both

Main ADP

test

receive QSLP matches and make elective

deferrals include differing proportions of

HCEs and NHCEs and without regard to

whether the HCEs and NHCEs included

in this group of employees have differing

deferral percentages. For example, the

separate ADP test under Method 1 may

be helpful if NHCEs who receive QSLP

matches have a higher deferral percentage

than HCEs who receive QSLP matches,

while the separate ADP test under Method

2 may be helpful if HCEs who receive

QSLP matches have a higher deferral percentage than NHCEs who receive QSLP

matches.

Method 1: Employees who are tested

separately include all employees who

receive QSLP matches, without regard

to whether they also make elective deferrals. Employees who do not receive QSLP

matches are not included in this separate ADP test, but instead, are taken into

Method 1

Method 2

• Testing includes employees who do not receive

QSLP matches.

• Testing includes employees who do not receive

QSLP matches and employees who both receive

QSLP matches and make elective deferrals.

• Testing includes elective deferrals for employees

who both receive QSLP matches and make elective

deferrals.

• Testing includes employees who receive QSLP

matches.

• Testing excludes elective deferrals for employees

who both receive QSLP matches and make elective

deferrals.

• Testing includes only elective deferrals for employees who do not receive QSLP matches.

Separate

ADP Test

account under the main ADP test. The

elective deferrals of the employees who

receive QSLP matches and also make

elective deferrals are taken into account

in performing the separate test and are

excluded from the main ADP test.

Method 2: Employees who are tested

separately include all employees who

receive QSLP matches, without regard to

whether they also make elective deferrals.

However, unlike the separate test under

Method 1, the elective deferrals of the

employees who receive QSLP matches

and also make elective deferrals (along

with the elective deferrals of employees

who do not receive QSLP matches) are

taken into account in performing the main

ADP test and are disregarded in performing the separate ADP test.

The following chart summarizes,

and highlights the differences between,

Method 1 and Method 2:

• Testing includes employees who receive QSLP

matches.

• Testing includes elective deferrals for employees

who both receive QSLP matches and make elective

deferrals.

E. Miscellaneous Issues

Q. E-1: How do the QSLP match rules

apply to SIMPLE IRA plans?

A. E-1: In general, the QSLP match

rules described in this notice with respect

to section 401(k), 403(b), and governmental 457(b) plans apply in a similar manner to a QSLP match feature in a SIMPLE IRA plan. For example, although

section 401(m)(13)(C) does not apply to

SIMPLE IRA plans, a SIMPLE IRA plan

may rely on an employee’s certification

that a qualified education loan payment

satisfies the requirements to be a QSLP

and may adopt other reasonable procedures described in Q&A C-3 to determine

that a qualified education loan payment is

a QSLP.

September 3, 2024

However, the QSLP match rules

described in this notice that relate to

requirements that do not apply to SIMPLE IRA plans (for example, rules relating to the treatment of QSLP matches for

purposes of nondiscrimination testing,

including separate ADP testing described

in Q&A D-1 of this notice) do not apply to

a QSLP match feature in a SIMPLE IRA

plan.

In addition, an employee’s maximum

QSLPs for a year with respect to a SIMPLE

IRA plan are determined differently from

other plans. Pursuant to section 408(p)(2)

(F)(i), an employee’s qualified education

loan payments can be QSLPs in a SIMPLE IRA plan only to the extent such payments do not exceed the applicable dollar

amount under section 408(p)(2)(E) (after

578

application of section 414(v)) for the year,

or, if lesser, the employee’s compensation

(as defined in section 415(c)(3)), reduced

by any other elective employer contributions the employee elected for the year

pursuant to section 408(p)(2)(A)(i)(I)).

Q. E-2: May a QSLP match feature be

added as a mid-year change to a safe harbor plan, as described in Notice 2016-16,

2016-7 I.R.B. 318?

A. E-2: Yes. A QSLP match feature

may be added as a mid-year change to a

safe harbor plan (that is, a safe harbor plan

described in section 401(k)(12), 401(k)

(13), 401(m)(11), or 401(m)(12)), provided that the notice and election opportunity conditions in section III.C of Notice

2016-16 are satisfied. Further, a mid-year

change to a safe harbor plan to add a QSLP

Bulletin No. 2024–36

match feature is not a prohibited mid-year

change, as described in Section III.D of

Notice 2016-16.

Q. E-3: May a plan provide for QSLP

matches to be contributed at a different

frequency than elective deferral matches?

A. E-3: Yes. A plan may provide for

QSLP matches to be contributed at a

different frequency than elective deferral matches, provided that QSLP match

contributions are required to be contributed not less frequently than annually. In

addition, a plan may provide for QSLP

matches to be contributed at a different

frequency than elective deferral matches

without violating the requirement under

section 401(m)(13)(A)(i) that the plan

provide elective deferral matches at the

same rate as QSLP matches. For example,

a section 401(k) plan that includes a QSLP

match feature may provide for QSLP

matches to be contributed once each year

and for elective deferral matches to be

contributed on a biweekly payroll basis.

Q. E-4: In the event an employee’s certification of a QSLP is determined to be

incorrect, must a match based on that certification be corrected?

A. E-4: No. Even if an employee’s

certification of a QSLP is determined to

be incorrect, a match based on that certification does not need to be corrected. If

a match based on an incorrect certification is not corrected, it may be treated as

a QSLP match. However, a QSLP match

is permitted to be corrected to the extent

an employee’s certification of a QSLP is

determined to be incorrect, provided that

all QSLP matches made under similar

circumstances are corrected. For example, if an employee’s QSLP match for a

plan year is corrected because the qualified education loan on which the QSLP

match was based is later forgiven (causing

the employee’s certification of a QSLP to

be incorrect), all QSLP matches for the

plan year must be corrected to the extent

qualified education loans on which QSLP

matches were based are later forgiven.

The option not to correct an employee’s

QSLP match based on an incorrect certification, as described in this Q&A E-4 of

this notice, does not apply with respect to

an operational failure in administering a

QSLP match feature, including a failure to

satisfy the section 401(m)(4)(D)(ii) certification requirement.

Bulletin No. 2024–36

Q. E-5: Are plans required to provide

for contributions of QSLP matches on a

rolling basis as employees submit QSLP

claims (similar to the timing of contributions under section 125 flexible spending

accounts)?

A. E-5: No. Plans may, but are not

required to, provide for contributions

of QSLP matches on a rolling basis. For

example, plans may provide for contributions of QSLP matches for a plan year to

be made at the same time for all employees receiving QSLP matches for the plan

year.

Q. E-6: How does section 409A apply

to a nonqualified deferred compensation

(NQDC) plan that is linked to a plan with

a QSLP match feature?

A. E-6: Sections 1.409A-2(a)(9) and

1.409A-3(j)(5) provide relief with respect

to the election-timing and anti-acceleration rules of section 409A for certain

changes in the amount credited under an

NQDC plan that result from an employee’s action or inaction with respect to

elective deferrals and certain other contributions to a qualified employer plan

(as defined in § 1.409A-1(a)(2)). For

purposes of these election-timing and

anti-acceleration rules, an employee’s

action or inaction with respect to QSLPs

will be treated as an action or inaction

with respect to elective deferrals. The

Treasury Department and the IRS anticipate issuing proposed regulations

under section 409A that will conform

§§ 1.409A‑2(a)(9)(iv) and 1.409A-3(j)

(5)(iv).

This notice applies for plan years

beginning after December 31, 2024.

For plan years beginning before January 1, 2025, a plan sponsor may rely on

a good faith, reasonable interpretation

of section 110 of the SECURE 2.0 Act.

The guidance in this notice is an example of a good faith, reasonable interpretation of section 110 of the SECURE

2.0 Act.

SECURE 2.0 Act and, accordingly, invite

comments and suggestions regarding the

matters discussed in this notice and, generally, on section 110 of the SECURE 2.0

Act. In particular, the Treasury Department and the IRS request comments on:

(1) Whether additional guidance would

be helpful relating to passive certification

or independent verification;

(2) Whether, for a plan that provides

for QSLP matches to be made more frequently than annually, guidance would be

helpful in the case of an employee who

receives a QSLP match early in a year

before it is known whether subsequent

elective deferrals will reduce the employee’s maximum QSLP for the year;

(3) Whether additional examples of

reasonable procedures would be helpful

with respect to QSLP matches;

(4) Whether additional guidance

would be helpful concerning the application of the QSLP rules to SIMPLE IRA

plans; and

(5) Whether additional guidance

would be helpful concerning the application of the QSLP rules to SIMPLE 401(k)

plans.

Comments should be submitted in

writing on or before October 18, 2024,

and should include a reference to Notice

2024-63. Comments submitted after October 18, 2024, will be considered if doing

so will not delay the issuance of proposed

regulations with respect to section 110 of

the SECURE 2.0 Act. Comments may be

submitted electronically via the Federal

eRulemaking Portal at www.regulations.

gov (type “IRS Notice 2024-63” in the

search field on the Regulations.gov home

page to find this notice and submit comments). Alternatively, comments may be

submitted by mail to: Internal Revenue

Service, Attn: CC:PA:LPD:PR (Notice

2024-63), 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.

V. REQUEST FOR COMMENTS

VI. PAPERWORK REDUCTION ACT

The Treasury Department and the

IRS anticipate issuing proposed regulations with respect to section 110 of the

The collection of information contained in this notice will be submitted to

the Office of Management and Budget in

IV. APPLICABILITY DATE

579

September 3, 2024

accordance with the Paperwork Reduction

Act (PRA) (44 U.S.C. 3507) under OMB

control number 1545-1669. An agency

may not conduct or sponsor, and a person

is not required to respond to, a collection

of information unless the collection of

information displays a valid OMB control

number.

The collections of information in this

notice are contained in Q&A B-1, Q&A

B-2, Q&A B-3, Q&A C-3, and Q&A E-1

of this notice. This information will be

used by plan administrators to administer

QSLP match programs. The third-party

disclosures and recordkeeping requirements will be submitted to OMB for

September 3, 2024

review and approval in accordance with 5

CFR 1320.10.

The likely respondents are employees

who are participants in plans that adopt a

QSLP match feature and administrators of

plans that adopt a QSLP match feature.

Estimated number of respondents:

158,000 to 617,000.

Estimated frequency of responses:

Annually.

Estimated average time per response:

.25 hours.

Estimated total annual burden: 39,500

to 154,250 hours.

Books or records relating to a collection of information must be retained as

580

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 section 6103 of the Code.

VII. DRAFTING INFORMATION

The principal author of this notice

is Isaac Stein of the Office of Associate Chief Counsel (Employee Benefits,

Exempt Organizations, and Employment Taxes). For further information

regarding this notice, contact Isaac Stein

at (202) 317-6320 (not a toll-free number).

Bulletin No. 2024–36

Part IV

Second Employee

Retention Credit Voluntary

Disclosure Program

Announcement 2024-30

Section 1. Purpose and Scope

The Internal Revenue Service (IRS)

announces a second ERC Voluntary Disclosure Program for employers (participants) to resolve erroneous claims for

credit or refund involving the Employee

Retention Credit (ERC). The ERC is a

refundable tax credit intended for businesses and tax-exempt organizations that

continued paying employees during the

COVID-19 pandemic if their operations

were fully or partially suspended due to

a government order, they experienced the

required decline in gross receipts, or they

were a recovery startup business during

the relevant eligibility periods.

Since the enactment of legislation

authorizing ERC claims, the IRS has had

concerns about scams and potential fraud

regarding such claims given false and misleading public advertisements and scams

taking advantage of taxpayers. Those that

filed for and erroneously received the ERC

face enforcement action from the IRS and

are subject to assessment and collection

procedures. The IRS believes that it would

prevail in litigation to recover credits or

refunds of erroneous ERC claims and that

the imposition of appropriate penalties

and interest would be upheld by a court.

The IRS is offering employers an opportunity to resolve their civil tax liabilities

under this second ERC Voluntary Disclosure Program and avoid potential civil litigation, penalties, and interest.

In Announcement 2024-3, 2024-2

I.R.B. 364, the IRS announced the first

ERC Voluntary Disclosure Program,

which ended on March 22, 2024. More

than 2,600 taxpayers applied to the first

ERC Voluntary Disclosure Program to

resolve their improper ERC claims and

avoid civil penalties and unnecessary

litigation. Participants included common

1

law employers who used a third-party

payer to claim the ERC on their behalf.

The first ERC Voluntary Disclosure Program included settlement of the ERC for

purposes of a participant’s employment

tax obligations by eliminating their eligibility for the ERC while allowing a participant to retain 20% of the claimed ERC

amount. Because the ERC reduces the

income tax expense for qualified wages

under rules similar to section 280C of the

Internal Revenue Code (Code), the first

ERC Voluntary Disclosure Program also

resolved the issue of the corresponding

adjustment to income tax expense for

participants.

This second ERC Voluntary Disclosure

Program also includes the settlement of

the ERC for purposes of a participant’s

employment tax obligations by eliminating their eligibility for the ERC. However,

participants in this second ERC Voluntary

Disclosure Program are allowed to retain

15% of the claimed ERC amount. Participation in the second ERC Voluntary

Disclosure Program is limited to ERC

claims filed for the 2021 Tax Period(s)

and includes common law employers who

used a third-party payer to claim the ERC

on their behalf. This second ERC Voluntary Disclosure Program also resolves the

issue of the corresponding adjustment to

income tax expense for participants. The

second ERC Voluntary Disclosure Program, like the first, is intended to settle

erroneous, yet non-willful ERC claims.

Taxpayers subject to potential criminal

liability should utilize the IRS Criminal

Investigation Voluntary Disclosure Practice.

(2) The IRS has not received information

from a third party alerting the IRS

to the participant’s noncompliance,

nor has the IRS acquired information

directly related to the noncompliance

from an enforcement action;

(3) The participant is not under an

employment tax examination by the

IRS for any tax period(s) for which

the taxpayer is applying for this second ERC Voluntary Disclosure Program;

(4) The participant has not been notified

by the IRS that the ERC they received

is being recaptured for any tax period(s) for which the taxpayer is applying for this second ERC Voluntary

Disclosure Program1; and

(5) The participant has not previously

received notice and demand for

repayment of all or part of the claimed

ERC.

A participant that claimed the ERC

using a third-party payer (such as an agent

under section 3504 of the Code, a professional employer organization, or a certified professional employer organization)

that claimed the ERC for the participant

on an employment tax return filed under

the third-party payer’s own employer

identification number (EIN) rather than

the EIN of the participant, may participate

in this second ERC Voluntary Disclosure

Program, but the third-party payer must

submit the application described in Section 4 of this announcement on the participant’s behalf.

Section 2. Eligibility

The terms of this second ERC Voluntary Disclosure Program are as follows:

(1) Employment Tax Adjustments – The

participant is not eligible for, or entitled to, any ERC, including both the

refundable and non-refundable portions, for the tax period(s) at issue.

(2) The participant will remit back to the

Department of the Treasury 85% of

the claimed ERC, including both the

refundable and non-refundable portions.

Any participant that has claimed the

ERC for tax periods in 2021 and has

received a credit or refund prior to August

15, 2024, is eligible to participate in this

second ERC Voluntary Disclosure Program, provided that:

(1) The participant is not under criminal

investigation and they have not been

notified that the IRS intends to commence a criminal investigation;

Section 3. Terms of Second ERC

Voluntary Disclosure Program

The IRS notifies an employer of ERC recapture by issuing a Letter 6577-C, Employee Retention Credit (ERC) Recapture.

Bulletin No. 2024–36

581

September 3, 2024

(3) The participant will not be required

to repay any overpayment interest

received. If the participant makes full

payment of 85% of the claimed ERC

prior to executing the closing agreement, no underpayment interest will

apply. If the IRS approves a request

for an alternative payment arrangement such as an installment agreement, interest may apply from the

agreement date.

(4) Income Tax Effects – Because the

settlement eliminates a participant’s

eligibility for and/or entitlement to

all of the claimed ERC, participants

are not required to reduce wage

expense with respect to any of the

previously claimed ERC. Consequently, if they had not previously

reduced wage expense by any of the

claimed ERC, participants need not

file amended returns or Administrative Adjustment Requests (AARs) to

reduce wage expense. Correspondingly, if they had previously reduced

wage expense by any of the claimed

ERC, participants should not reduce

wage expense by any of the claimed

ERC if they file an amended return

or AAR adjusting the previous

reduction to wage expense. Pursuant

to the settlement, a participant has no

income with respect to the resolution

of the employment tax obligation by

remittance of payment of only 85%

of the claimed ERC, including both

the refundable and non-refundable

portions.

(5) Preparer/Advisor Information – If a

return preparer or advisor assisted or

advised the participant with any portion of the claim for credit or refund,

the participant will provide the name,

address, and phone number of the

preparer(s) or advisor(s) who assisted

with the claim for credit or refund and

a description of services provided by

the preparer or advisor.

(6) Application of Penalties – The IRS

will not assert civil penalties related

to the underpayment of employment

tax attributable to the claimed ERC

against a participant of this ERC

Voluntary Disclosure Program under

Announcement 2024-30 that remits

full payment of 85% of the claimed

September 3, 2024

ERC prior to executing the closing

agreement.

(7) The participant will execute a closing

agreement, as more fully described in

Section 4(3) of this announcement.

Section 4. Procedures for Participants

in the Second ERC Voluntary

Disclosure Program

(1) Form 15434, Application for

Employee Retention Credit Voluntary Disclosure Program

Participants in this second ERC Voluntary Disclosure Program must notify

the IRS of their election by completing

and submitting Form 15434, Application

for Employee Retention Credit Voluntary

Disclosure Program, on or before 11:59

pm local time on November 22, 2024.

Participants must submit Form 15434

and any required attachments electronically via the Document Upload Tool at

irs.gov/DUT.

Form 15434 must be prepared under

penalties of perjury and:

(a) Include the taxpayer’s name, taxpayer identification number, current

address, and daytime telephone number. If a practitioner will represent the

taxpayer, the practitioner must provide a completed Form 2848, Power

of Attorney and Declaration of Representative;

(b) Identify the tax period(s) for which

the ERC was claimed, the form on

which the ERC was claimed, and

the full amount of the ERC claimed,

including both the amounts that were

refundable and non-refundable;

(c) If the ERC was claimed for the first

or second quarters of tax year 2021,

a completed, signed ERC Voluntary

Disclosure Program Form SS-10,

Consent to Extend the Time to Assess

Employment Taxes, for the 2021 Tax

Period(s), is required to be submitted

with Form 15434;

(d) If the ERC was claimed by a thirdparty payer on behalf of the participant, as described in Section 2, the

third-party payer must attach a copy

of the relevant pages of the Schedule R (Form 941), Allocation Schedule for Aggregate Form 941 Filers,

that was attached to each Form 941,

582

Employer’s Quarterly Federal Tax

Return, on which the third-party

payer claimed the ERC for the participant; and

(e) If a return preparer or advisor assisted

with the claim for credit or refund,

include the name, address, and phone

number of the preparer(s) and advisor(s) who assisted with the claim for

credit or refund and a description of

services provided by the preparer or

advisor.

(2) Payment

Form 15434 will help a participant

calculate how much they will be required

to pay to the Department of the Treasury

under the terms of the second ERC Voluntary Disclosure Program.

A participant should use the Electronic

Federal Tax Payment System (EFTPS) to

submit an online payment(s). Payment

should be made separately for each tax

period upon submission of Form 15434.

In EFTPS, participants should select

the form they filed their employment

tax return on, such as Form 941 (Form

15434 is not an option in EFTPS). Then,

participants should select “Audit Adjustment” and “Advance Payment of Tax

Deficiency” for “Tax Type.” Participants

should not make a single, lump-sum payment for multiple tax periods to ensure

such payments are accurately credited

to the correct tax period. Full payment

of the liabilities under this second ERC

Voluntary Disclosure Program should be

made by the date the closing agreement

described in subsection (3) is executed

by the participant. Participants who are

unable to remit full payment of the 85%

of claimed ERC may be considered for

an alternative payment arrangement such

as an installment agreement, pending

approval.

(3) Closing Agreement

After receiving the requested information, the IRS will prepare a closing agreement under section 7121 of the Code in

accordance with the terms of the settlement.

The IRS will mail the closing agreement to the participant who must sign

and return it to the IRS within 10 days of

the date of mailing by the IRS. The IRS

may grant an extension for good cause to

participants who request additional time

Bulletin No. 2024–36

within the 10-day period. Full payment

of the liabilities under this second ERC

Voluntary Disclosure Program should be

made by the date the closing agreement

is executed by the participant.

As discussed in Section 4(2), participants who are unable to remit full payment of the liabilities under this second

ERC Voluntary Disclosure Program may

be considered for an alternative payment

arrangement such as an installment agreement, pending approval.

(4) Other Matters

Bulletin No. 2024–36

(a) Denial of a participant’s request to

participate in this second ERC Voluntary Disclosure Program is not subject to judicial review or administrative appeal.

(b) Execution of a closing agreement

under this second ERC Voluntary Disclosure Program does not preclude the

IRS from investigating any associated

criminal conduct or recommending

prosecution for violation of any criminal statute and does not provide any

immunity from prosecution.

583

CONTACT INFORMATION

The principal author of this announcement is Michael Franklin of the Office of

the Associate Chief Counsel (Procedure

and Administration). If you need help

completing Form 15434, have questions

on the status of your ERC Voluntary

Disclosure Program application, or have

other ERC Voluntary Disclosure Program

related questions, contact the ERC Voluntary Disclosure hotline at 414-231-2222

(not a toll-free number).

September 3, 2024

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. 2024–36

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.

September 3, 2024

Numerical Finding List1

Bulletin 2024–36

Announcements:

2024-26, 2024-27 I.R.B. 14

2024-27, 2024-27 I.R.B. 14

2024-28, 2024-28 I.R.B. 39

2024-29, 2024-29 I.R.B. 71

2024-31, 2024-34 I.R.B. 533

2024-32, 2024-35 I.R.B. 535

2024-30, 2024-36 I.R.B. 581

Treasury Decisions:

10002, 2024-29 I.R.B. 56

9999, 2024-30 I.R.B. 72

10000, 2024-31 I.R.B. 185

10003, 2024-32 I.R.B. 342

10001 2024-33 I.R.B. 412

10004 2024-33 I.R.B. 489

9998 2024-34 I.R.B. 412

10005 2024-34 I.R.B. 510

Notices:

2024-47, 2024-27 I.R.B. 1

2024-52, 2024-27 I.R.B. 2

2024-53, 2024-27 I.R.B. 4

2024-54, 2024-28 I.R.B. 24

2024-55, 2024-28 I.R.B. 31

2024-56, 2024-29 I.R.B. 64

2024-57, 2024-29 I.R.B. 67

2024-58, 2024-30 I.R.B. 120

2024-59, 2024-32 I.R.B. 348

2024-60, 2024-34 I.R.B. 515

2024-61, 2024-34 I.R.B. 520

2024-62, 2024-36 I.R.B. 570

2024-63, 2024-36 I.R.B. 573

Proposed Regulations:

REG-124593-23, 2024-28 I.R.B. 40

REG-109032-23, 2024-31 I.R.B. 332

REG-120137-19, 2024-31 I.R.B. 336

REG-119283-23, 2024-32 I.R.B. 351

REG-102161-23 2024-33 I.R.B. 502

REG-103529-23, 2024-33 I.R.B. 512

REG-105128-23, 2024-35 I.R.B. 536

Revenue Procedures:

2024-26, 2024-27 I.R.B. 7

2024-29, 2024-30 I.R.B. 121

2024-30, 2024-30 I.R.B. 183

2024-27, 2024-31 I.R.B. 300

2024-28, 2024-31 I.R.B. 326

2024-32, 2024-34 I.R.B. 523

Revenue Rulings:

2024-13, 2024-28 I.R.B. 18

2024-14, 2024-28 I.R.B. 18

2024-15, 2024-32 I.R.B. 340

2024-16, 2024-35 I.R.B. 534

2024-17, 2024-36 I.R.B. 568

A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2024–27 through 2024–52 is in Internal Revenue Bulletin

2024–52, dated December 30, 2024.

1

September 3, 2024

ii

Bulletin No. 2024–36

Finding List of Current Actions on

Previously Published Items1

Bulletin 2024–36

A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2024–27 through 2024–52 is in Internal Revenue Bulletin

2024–52, dated December 30, 2024.

1

Bulletin No. 2024–36

iii

September 3, 2024

Internal Revenue Service

Washington, DC 20224

Official Business

Penalty for Private Use, $300

INTERNAL REVENUE BULLETIN

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