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Discussion
Section 74764 gives the Tax Court jurisdiction to make a
declaratory judgment with regard to the tax-qualified status of a
retirement plan.
4 Sec. 7476 provides, in pertinent part, as follows:
SEC. 7476. DECLARATORY JUDGMENTS RELATING TO QUALIFICATION
OF CERTAIN RETIREMENT PLANS.
(a) Creation of Remedy.--In a case of actual
controversy involving--
(1) a determination by the Secretary with respect
to the initial qualification or continuing
qualification of a retirement plan under subchapter D
of chapter 1, or
(2) a failure by the Secretary to make a
determination with respect to--
(A) such initial qualification, or
(B) such continuing qualification if the
controversy arises from a plan amendment or plan
termination,
upon the filing of an appropriate pleading, the Tax
Court may make a declaration with respect to such
initial qualification or continuing qualification. Any
such declaration shall have the force and effect of a
decision of the Tax Court and shall be reviewable as
such. For purposes of this section, a determination
with respect to a continuing qualification includes any
revocation of or other change in a qualification.
(b) Limitations.--
(1) Petitioner.--A pleading may be filed under
this section only by a petitioner who is the employer,
the plan administrator, an employee who has qualified
under regulations prescribed by the Secretary as an
interested party for purposes of pursuing
administrative remedies within the Internal Revenue
Service, or the Pension Benefit Guaranty Corporation.
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Last modified: May 25, 2011