Revenue Procedure 2004-15

Under § 409(h)(2)(B), an ESOP that
provides for distributions in the form of securities of an employer that is an S corporation is permitted to provide that the S
corporation stock included in the distribution is subject to a repurchase requirement.
Thus, an ESOP is permitted to provide that
any stock in an S corporation that is distributed is subject to immediate repurchase
by the S corporation upon a direct rollover
of the stock from the ESOP to an IRA.
SECTION 3. SCOPE
This revenue procedure sets forth certain requirements related to an ESOP’s distribution of S corporation stock to a participant where the participant elects to have
the S corporation stock distributed to an
IRA in a direct rollover. If these requirements are satisfied, the Service will accept
the position that the distribution does not
affect the S corporation’s election to be
taxed as an S corporation.
SECTION 4. APPLICATION
The Service will accept the position that
an S corporation’s election is not affected
as a result of an ESOP’s distribution of
S corporation stock where the participant
directs that such stock be distributed to an
IRA in a direct rollover, provided that:
.01 The terms of the ESOP require that
the S corporation repurchase the stock immediately upon the ESOP’s distribution of
the stock to an IRA;
.02 Either, pursuant to the terms of the
ESOP, the S corporation actually repurchases the S corporation stock contemporaneously with, and effective on the same
day as, the distribution, or, pursuant to the
terms of the ESOP, the ESOP is permitted
to assume the rights and obligations of the
S corporation to repurchase the S corporation stock immediately upon the ESOP’s
distribution of the stock to an IRA and the
ESOP actually repurchases the S corporation stock contemporaneously with, and
effective on the same day as, the distribution; and
.03 No income (including tax-exempt
income), loss, deduction, or credit attributable to the distributed S corporation stock
under § 1366 is allocated to the participant’s IRA.

February 17, 2004

SECTION 5. EFFECT ON OTHER
REVENUE PROCEDURES
Rev. Proc. 2003–23 is modified and
superseded.
SECTION 6. DRAFTING
INFORMATION
The principal authors of this revenue procedure are Audrey W. Ellis of
the Office of Associate Chief Counsel
(Passthroughs and Special Industries),
John Ricotta of the Office of Division
Counsel/Associate Chief Counsel (Tax
Exempt and Government Entities) and
Robert Gertner of the Employee Plans,
Tax Exempt and Government Entities Division. For further information regarding
the S corporation aspects of the revenue
procedure, contact Ms. Ellis at (202)
622–3060 (not a toll-free call). For further
information regarding the employee plans
aspects of the revenue procedure, contact
the Employee Plans’ taxpayer assistance
telephone service at 1–877–829–5500 (a
toll-free call) between the hours of 8:00
a.m. and 6:30 p.m. Eastern Time, Monday
through Friday or contact Mr. Gertner at
(202) 283–9888 (not a toll-free call).

26 CFR 601.201: Rulings and determination letters.
(Also Part I, § 412.)

Rev. Proc. 2004–15
SECTION 1. PURPOSE
The purpose of this revenue procedure
is to outline the procedures of the Internal Revenue Service with respect to applications for waivers of the minimum funding standard under either § 412(d) of the
Internal Revenue Code or section 303 of
the Employee Retirement Income Security
Act of 1974 (ERISA), Pub. L. 93–406,
1974–3 C.B. 1, 41.
SECTION 2. REQUESTS FOR
WAIVERS OF THE MINIMUM
FUNDING STANDARD FOR
DEFINED BENEFIT PLANS
.01 Submission.—Requests for waivers
of the minimum funding standard for defined benefit plans must be submitted to:

490

Employee Plans
Internal Revenue Service
Commissioner, TE/GE
Attention: SE:T:EP:RA
P.O. Box 27063
McPherson Station
Washington, D.C. 20038
The user fee required by Rev. Proc.
2004–8, 2004–1 I.R.B. 240, or its successors, must be sent with such requests.
.02 Necessary Procedural Documents.—A request will not be considered
unless it complies with (1) through (5)
below.
(1) The request must be signed by the
taxpayer maintaining the plan (hereinafter
referred to as “applicant”) or an authorized
representative of the applicant who either
must be identified in (a), (b), or (c) of
subsection 9.02(11) of Rev. Proc. 2004–4,
2004–1 I.R.B. 125, or must be an enrolled actuary within the meaning of
§ 7701(a)(35) of the Code. Where an authorized representative signs the request or
will appear before the Service in connection with the request, a Form 2848, Power
of Attorney and Declaration of Representative, must be submitted with the request.
For multiemployer plans, the request must
be made by the Board of Trustees (which
shall be deemed to be the applicant) or by
an authorized representative of the Board
of Trustees. An individual is not an authorized representative of the applicant
merely on account of being the administrator or trustee of the plan.
(2) The request also must contain a
declaration in the following form: “Under the penalties of perjury, I declare that I
have examined this request, including accompanying documents, and to the best of
my knowledge and belief, the facts presented in support of the request are true,
correct, and complete.” This declaration
must be signed by the applicant (e.g., an
authorized officer of a corporation). The
signature of an individual with a power of
attorney will not suffice for the declaration. See section 9.02(13) of Rev. Proc.
2004–4, supra, p. 142.
(3) Because a request for a waiver constitutes a request for a ruling, compliance
with § 6110 of the Code is also required.
Section 601.201 of the Statement of Procedural Rules sets forth the requirements

2004-7 I.R.B.

applicable to requests for rulings and determination letters which are subject to
§ 6110. Section 601.210(e) furnishes specific instructions to applicants. The applicant must also pay the user fee required by
Rev. Proc. 2004–8 or its successors.
The applicant must provide with the request either a statement of proposed deletions and the statutory basis for each
proposed deletion, or a statement that no
information other than names, addresses,
and taxpayer identifying numbers need be
deleted.
(4) The applicant must provide a copy
of a written notification that an application for a waiver of the minimum funding
standard under § 412(d) of the Code has
been submitted to the Service. The original of the written notification must bear a
signature by an appropriate officer of the
applicant and must be in substantially the
form set forth in the Model Notice found
in the Appendix A to this revenue procedure. The Service does not require the applicant to furnish any information in addition to that required by the Model Notice in
the Appendix A to plan participants, beneficiaries, alternate payees, or employee
organizations as part of the waiver application process, but additional information
may, of course, be provided by the applicant pursuant to the collective bargaining
process or otherwise.
The application must state that such notice
was hand delivered or mailed to the last
known address of each employee organization, participant, beneficiary, and alternate
payee (within the meaning of § 414(p)(8)
of the Code) within 14 days prior to the
date of the application. If the applicant
makes a reasonable effort to carry out the
provisions of this paragraph, failure of an
employee organization, participant, beneficiary, or alternate payee to receive the
notice will not cause the applicant to fail
the notice requirement. However, merely
posting the notice on a bulletin board is not
sufficient to satisfy this requirement.
.03 Necessary Waiver Information.—The applicant must furnish appropriate evidence that the employer and
all other entities included within the controlled group of which the employer is a
member are unable to satisfy the minimum
funding standard for a plan year without

2004-7 I.R.B.

temporary substantial business hardship
and that application of the standard would
be adverse to the interest of plan participants in the aggregate. In the case of a
multiemployer plan, the applicant must
furnish appropriate evidence that 10 percent or more of the number of employers
contributing to or under the plan are unable
to satisfy the minimum funding standard
for a plan year without substantial business hardship and that application of the
standard would be adverse to the interest
of plan participants in the aggregate. What
constitutes appropriate evidence will depend on the facts and circumstances of
each case. A response must be furnished
for each of the subsections (1) through (7)
below. In certain cases some of the material described in subsections (1) through
(7) may be inapplicable, unavailable, inappropriate or burdensome to furnish. In
such cases, the applicant should furnish
a statement indicating why the material
for a particular subsection is inapplicable,
unavailable, inappropriate or burdensome.

sheet, profit and loss statement, cash flow
statement, and notes to the financial statement. Recent interim financial reports
for each of the controlled group members, if available, should also be submitted
along with an interim financial report
covering the corresponding period for the
previous year. If the employer submits
financial reports to the Securities and Exchange Commission, these reports should
be submitted for the same periods as the
annual financial reports. Preferably, the
financial report should include certified
financial statements. If certified financial
statements have not been prepared, an
uncertified report is acceptable. If neither certified nor uncertified reports are
available, copies of the company’s federal
income tax returns, including all of the
supporting schedules, must be submitted.
(See also paragraph 5.)

(1) General facts concerning the employer.

For each person who is an officer (within
the meaning of Q&A T–13 of § 1.416–1
of the Income Tax Regulations) or director of the applicant or any entity aggregated with the applicant for purposes of
§§ 414(b), (c), (m), or (o) of the Code
(“aggregated entities”), provide a detailed
statement concerning all amounts that the
applicant or any aggregated entity has paid
or will pay to or for the benefit of such
person during the plan year for which the
request is made and the immediately preceding 24 months. For this purpose, if the
number of employees (including part-time
employees) of the applicant and all aggregated entities as of the first day of the plan
year for which the request is made is: (a)
not more than 30, no more than three persons shall be treated as officers; (b) more
than 30 but not more than 100, no more
than 10% of such employees (rounded to
the next integer) shall be treated as officers; or (c) more than 100, no more than
10 of such employees shall be treated as
officers. In each case, this limited number of officers shall be comprised of those
officers to whom or for whose benefit the
applicant and all aggregated entities have
paid or will pay the largest such amounts
during such period. In addition, provide
information concerning amounts paid or
to be paid during such period to or for

A brief statement should be submitted
concerning: (a) the history of the employer and its primary business; (b) the
ownership of the employer and any recent or contemplated changes (such as
acquisitions, mergers, discontinuances of
operations) which might have a bearing
on the employer’s organization or financial condition; (c) whether the employer
is aggregated with any other entity for
purposes of §§ 414(b), (c), (m) or (o) of
the Code; and (d) whether the plan is also
maintained by employers described in (c)
above or any other employers.
(2) The financial condition of the employer.
The annual financial report of the employer and each of the other entities
included within the controlled group of
which the employer is a member for each
of the two fiscal years that commenced
prior to any plan year for which a waiver is
requested and the annual financial report
for each fiscal year that commenced with
or within each plan year for which a waiver
is requested must be submitted. This submission must include at least the balance

491

(3) Executive compensation arrangements (not required for multiemployer
plans)

February 17, 2004

the benefit of up to five additional persons
who are former officers or directors of the
applicant or any aggregated entity or who
are aggregated with any such former officer or director for purposes of §§ 414(b),
(c), (m) or (o) of the Code and who would
be included in such limited number of officers if they were officers of the applicant.
The statement should include, among other
payments, amounts paid with respect to:
(a) salary; (b) non–qualified deferred compensation; (c) fringe benefits, perquisites,
and other personal benefits; (d) bonuses
and incentive compensation, including
amounts deferred from previous periods;
(e) money or other property set aside in
any trust, escrow, insurance policy, or
other similar funding vehicle during the
years in question for the benefit of any
such person, whether or not included in
such person’s income; (f) grants of stock
options, restricted stock, or other equity
compensation; (g) money or other property
paid by reason of the exercise of any stock
option or stock appreciation right or pursuant to any phantom stock plan or agreement; (h) money or other property paid
pursuant to any other long-term incentive
plan; (i) loans to or for the benefit of such
persons and any loan repayments during
such period; (j) money or other property
paid in connection with any change in
control or termination of employment or
service and (k) any other compensation
to or for the benefit of such persons that
has affected or will affect the cash flow
of the applicant or any aggregated entity
for such period. Applicants may omit information regarding any plan that satisfies
the qualification requirements of § 401(a)
of the Code and any other pension, profit
sharing, employee stock ownership, employee stock purchase, group life, health,
hospitalization, medical reimbursement,
fitness or wellness, employee relocation,
severance, or similar plan that does not
discriminate in scope, terms, or operation
in favor of officers or directors of the applicant and that is available generally to
all salaried employees.
(4) Nature and extent of the business
hardship. An explanation of the nature
and extent of the business hardship should
include the following.

February 17, 2004

(a) A discussion of the underlying
reasons which have led to the current situation (such as declining sales, unexpected
losses, labor disputes, etc.).

(a) The name of the plan, the
plan’s identification number, and file
folder number (if any).
(b) The date the plan was adopted.

(b) A statement concerning the
prospects for recovery, including reasons
why such recovery is likely.
(c) A statement describing the actions taken or planned to effect recovery.
(d) A statement as to when and to
what extent it is anticipated that required
contributions to the plan can reasonably be
expected to resume.

(c) The effective date of the plan.
(d) The classes of employees covered. If the only participants are owners
of the employer or relatives of owners, so
state.
(e) The number of employees
covered.

(e) Financial projections and collateral information for certain employers
(not required for multiemployer plans)

(f) A copy of the current plan document and the most recent summary plan
description.

If the sum of the outstanding balances of
any amortization bases established under
§ 412(b)(2)(C) of the Code for waivers
granted to the plan for any prior plan
years (calculated as of the first day of the
plan year for which a new waiver is being requested) when added to the amount
for which a waiver is currently being requested, equals or exceeds $1,000,000,
items (4)(b) & (c) should be supported
by financial projections, for not less than
the next five years, for each trade or business of the plan sponsor, along with any
supporting text and schedules. These
projections should include revenues, expenses, and cash flow statements, along
with all major strategic and economic
assumptions used in deriving them. The
cash flow projections should include capital expenditures, forecasted contributions
to the pension plan(s), long-term debt
repayments, and any mandatory debt repayments. Any projections based on a significant strategic or financial turnaround
should fully explain this turnaround. Also,
a brief description should be included
of what collateral, if required, would be
available to secure any waived contributions.

(g) A brief description of all plan
amendments adopted during the year for
which the waiver is requested and the previous four years which affect plan costs,
including the approximate effect of each
amendment on such costs.

The Service may request additional information, including items listed in
§ 412(d)(2) of the Code.
(5) Facts concerning the pension plan.
For each pension plan for which a waiver
is requested, the following information
should be supplied.

492

(h) The most recent actuarial report plus any available actuarial reports for
the preceding two plan years. Also, if not
shown in that report, the present value of
accrued benefits, present value of vested
benefits, and fair market value of assets
(excluding contributions not yet paid).
(i) How the plan is funded (i.e.,
trust fund, individual insurance policies,
etc.).
(j) A list of the contributions
actually paid in each month, from the
twenty–fourth month prior to the beginning of the plan year for which the waiver
is requested through the date of the request
and the plan year to which the contributions were applied, with the employee
contributions and the employer contributions listed separately.
(k) The plan year for which the
waiver is requested (e.g., 1/1/03–12/31/03).
(l) The approximate contribution
required to meet the minimum funding
standard and the approximate amount requested to be waived. For defined benefit
plans, this amount should be determined
by the plan’s enrolled actuary.

2004-7 I.R.B.

(m) A copy of the most recently
completed Annual Return/Report of Employee Benefit Plan (Form 5500 series, as
applicable) and in the case of a defined
benefit plan, a copy of the corresponding
Actuarial Information schedule (Schedule
B of Form 5500).
(n) Whether the plan is subject to
Title IV of ERISA.
(o) A copy of each ruling letter
that waived the minimum funding standard during the last 15 plan years, a statement of the amount waived for each plan
year, and a statement of the outstanding
balance of the amortization base for each
waived funding deficiency. The outstanding balance of the amortization base for
each waiver is to be calculated as of the
first day of the plan year for which a waiver
is being requested.
(6) Other pension, profit–sharing, or
stock bonus plans. If the employer maintains more than one plan, an outline of the
essential facts for each such plan should be
submitted. This should include:

(b) Furnish details of any existing
arbitration, litigation, or court procedure
which involves the plan.
(c) Also state which Area Office
maintains files concerning the plan.
(8) Although it is not required, a digest
of certain information from the financial
statements described in this section will facilitate the processing of a waiver request.
For example, a digest could show for the
applicable years:
(a) current assets;
(b) inventory included in current
assets;

(d) other assets;
(e) total assets;
(f) current liabilities;
(g) long–term liabilities;
(h) other liabilities;
(i) total liabilities;

(b) The number of employees
covered.

(k) equity;

(c) The classes of employees cov-

(d) The approximate annual contribution required.

(j) working capital;

(l) sales;
(m) cost of sales;
(n) gross profit;
(o) other income and expense;

(e) The amount of contributions
that have been made, or are intended to be
made, for any plan year of such other plan
commencing in, or ending in, the plan year
for which the waiver is requested.

(p) net profit before taxes;

(f) A statement as to whether a
waiver request is contemplated for the
plan.

(s) for plans for which waivers are
requested, pension costs expensed in determining (p).

(7) Other information.
(a) Describe the nature of any
matters pertaining to the plan which are
currently pending or are intended to be
submitted to the Service, Department of
Labor or the Pension Benefit Guaranty
Corporation.

2004-7 I.R.B.

SECTION 3. REQUEST FOR
WAIVERS FOR DEFINED
CONTRIBUTION PENSION PLANS

(c) fixed assets;

(a) A brief description of the plan,
including the name of the plan and its plan
year.

ered.

the first day of the plan year for which
a new waiver is being requested) when
added to the amount for which a waiver
is currently being requested, equals or exceeds $1,000,000.
.05 Checklist.—A checklist has been
provided in Appendix B for the convenience of the taxpayer submitting the request. In certain cases some of the material described above may be inappropriate
or burdensome to furnish. In such cases,
the request for approval should include a
statement indicating why such material is
not being furnished.

(q) income taxes;
(r) net profit after taxes; and

.04 Additional Copy of Information Required.—The applicant must furnish two
copies of the necessary waiver information
described in section 2.03, if the sum of the
outstanding balances of any amortization
bases established under § 412(b)(2)(C) of
the Code for waivers granted to the plan
for any prior plan years (calculated as of

493

.01 Background Information.—Section
3 of Rev. Rul. 78–223, 1978–1 C.B.
125, requires that a defined contribution
pension plan contain certain provisions in
order for a waiver to be granted. If the
applicant does not want to draft individually designed provisions to satisfy the
requirements of section 3 of Rev. Rul.
78–223, the Service will provide sample
plan amendment language that complies
with such requirements. See subsection
.02. However, a provision that satisfies
section 3 of Rev. Rul. 78–223 does not
necessarily satisfy the requirements of
§ 401(a) of the Code. In order to provide
maximum flexibility in obtaining a waiver
for a defined contribution pension plan,
three alternative procedures are provided
in subsections .02, .03, and .04, in which
a single request may cover either a waiver
ruling only or a waiver ruling and a determination letter as to the status under
§ 401(a) of the Code.
.02 Waiver Ruling Only/Without Submission of Plan Amendment.—Under this
procedure, requests for waivers must be
submitted to:
Employee Plans
Internal Revenue Service
Commissioner, TE/GE
Attention: SE:T:EP:RA
P.O. Box 27063
McPherson Station
Washington, D.C. 20038
The applicant must satisfy the requirements of section 2 of this revenue procedure except those applicable only to defined benefit plans, e.g. section 2.03(5)(h).

February 17, 2004

Any waiver ruling granted under this procedure will be accompanied by a plan
amendment supplied by the Service which
will, if adopted, satisfy section 3 of Rev.
Rul. 78–223. The waiver will be conditioned upon the plan being amended by
adoption of that amendment, within a reasonable period of time, and will contain
a caveat stating that the ruling is not a
ruling as to the effect the plan provision
may have on the qualified status of the
plan. Upon receipt of that amendment,
the applicant may (within 60 days of date
of the letter) request reconsideration of
this waiver condition if the amendment
is inappropriate. Reconsideration may be
requested by submitting a letter from the
applicant (or authorized representative) to
the above address.
.03 Waiver Ruling Only/With Submission of Plan Amendment.—Under this
procedure, requests for waivers must be
submitted to:
Employee Plans
Internal Revenue Service
Commissioner, TE/GE
Attention: SE:T:EP:RA
P.O. Box 27063
McPherson Station
Washington, D.C. 20038
The applicant must satisfy the requirements of section 2 of this revenue procedure, except those applicable only to defined benefit plans, e.g. section 2.03(5)(h),
and must include the plan provisions necessary to satisfy section 3 of Rev. Rul.
78–223. All waivers issued pursuant to
this subsection will contain a caveat indicating that the ruling is not a ruling as to
the effect any plan provision, submitted
pursuant to the previous sentence, may
have on the qualified status of the plan.
.04 Waiver Ruling and Determination
Letter Request.—Under this procedure
both the request for a waiver ruling and
the request for a determination letter on
the effect of any amendment necessary
to satisfy section 3 of Rev. Rul. 78–223
must be submitted by the applicant to the
Office of the Commissioner, Tax Exempt
and Government Entities Division where
it will be treated as if it had been submitted
as a request for technical advice from the
Determinations Manager.

February 17, 2004

(1) The request that is submitted to the
Office of the Commissioner, Tax Exempt
and Government Entities Division must include the following:

and Government Entities Division to the
Determinations Manager for consideration while the technical advice request is
completed.

(a) The combined request must
satisfy all the procedural requirements
described in section 3.03 of this revenue
procedure;

(c) The Office of the Commissioner, Tax Exempt and Government Entities Division will consider both issues. If
a waiver is to be granted and if the Office
of the Commissioner, Tax Exempt and
Government Entities Division believes
that qualification of the plan is not adversely affected by the plan amendment,
a technical advice memorandum will be
issued to the Determinations Manager.
The Determinations Manager must decide
within 10 working days from the date of
the technical advice memorandum either
to furnish the applicant with the technical
advice memorandum and with a favorable advance determination letter, or to
ask for reconsideration of the technical
advice memorandum. This request must
be in writing. An initial written notice of
intent to make this request may be submitted within 10 working days of the date
of the technical advice memorandum and
followed by a written request within 30
working days from the date of such written notice. If the Determinations Manager
does not ask for reconsideration of the
technical advice memorandum within 10
working days, the Actuarial Group will
issue the waiver ruling. This ruling will
not contain the caveat described in section
3.02.

(b) The submission must include
a completed Form 5300 and all necessary
documents, plan amendments, and information required by the Form 5300 and by
this revenue procedure for approval of the
plan amendments;
(c) The request must indicate
which Area Office has audit jurisdiction
over the return; and
(d) The user fee for both the
waiver request and the determination letter
request must be contained in the submission to the Office of the Commissioner,
Tax Exempt and Government Entities Division.
(2) The procedures for notice and
comment by interested parties, which are
contained in sections 17, 18, and 19, of
Rev. Proc. 2004–6, 2004–1 I.R.B. 197,
or its successors, as well as the notice and
comment procedures provided in section
2.02 of this revenue procedure must be
satisfied. Comments are to be forwarded
to the Determinations Office that is considering the determination letter request
for the plan amendments.
(3) The waiver request will be handled
by the Office of the Commissioner, Tax
Exempt and Government Entities Division
as follows:
(a) The waiver request and supporting documents will be forwarded to the
Actuarial Group, SE:T:EP:RA:T:A, which
will treat the request as a technical advice on the qualification issue with respect
to the plan provisions necessary to satisfy
section 3 of Rev. Rul. 78–223.
(b) The appropriate Determinations Office will be notified of the request.
In order not to delay the processing of the
request, all materials relating to the determination letter request will be sent by the
Office of the Commissioner, Tax Exempt

494

SECTION 4. DEADLINE FOR
REQUESTING A WAIVER
All waiver requests (for plans other than
multiemployer plans) must be submitted
no later than the 15th day of the 3rd month
following the close of the plan year for
which the waiver is requested. The Service cannot extend this statutory deadline.
A request for a waiver with respect to a
multiemployer plan generally must be submitted no later than the close of the plan
year following the plan year for which the
waiver is requested.
In seeking a waiver with respect to a
plan year which has not yet ended, the applicant may have difficulty in furnishing
sufficient current evidence in support of
the request. For this reason it is generally advised that a request not be submitted earlier than 180 days prior to the end

2004-7 I.R.B.

of the plan year for which the waiver is requested.

17, 2004, the date of its publication in the
Internal Revenue Bulletin.

SECTION 5. GENERAL

SECTION 8. EFFECT ON OTHER
REVENUE PROCEDURES

Employers who have difficulty in furnishing the information specified in this
Revenue Procedure may call the Employee Plans Customer Assistance Service
at 1–877–829–5500 (a toll–free number),
or write for guidance at the following address:
Internal Revenue Service
Commissioner, TE/GE
Attention: SE:T:EP:RA:T:A
1111 Constitution Avenue, N.W.
Washington, D.C. 20224
Additional information sent after the initial request should be sent to the Actuarial
Group. In appropriate instances, preliminary conferences may be afforded in addition to conferences available under Rev.
Proc. 2004–4, 2004–1 I.R.B. 125.
SECTION 6. BANKRUPTCY
PETITIONS
If the applicant or a significant number of controlled group members file a
bankruptcy petition after the request for a
waiver of the minimum funding standard
is submitted to the Service, the applicant
must provide to the Service an update to
the information required to be submitted in
section 2 of this revenue procedure, especially the financial information in section
2.03(4).
SECTION 7. EFFECTIVE DATE
This revenue procedure is effective for
all ruling requests received after February

2004-7 I.R.B.

Rev. Proc. 2004–4 is modified to the
extent that this revenue procedure provides
special procedures for issuing rulings with
respect to requests for waivers of the minimum funding standard.
Rev. Proc. 2004–5 is modified to the
extent that this revenue procedure provides
special procedures for furnishing technical
advice to Determinations managers when
both a request for a waiver of the minimum
funding standard and a request for a determination letter have been submitted for a
defined contribution plan.
Rev. Proc. 2004–6 is modified to the
extent that this revenue procedure provides
special procedures to follow in issuing a
determination letter for a defined contribution plan if a waiver of the minimum funding standard has been requested.
Rev. Proc. 94–41, 1994–1 C.B. 711, is
superseded
SECTION 9. PAPERWORK
REDUCTION ACT
The collection of information contained in this revenue procedure has 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
1545–1873.
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
control number.

495

The collection of information in this
revenue procedure is in sections 2 and 3.
This information is required to evaluate
and process the request for a change in
funding method. The collection of information is required to obtain approval for
a change in funding method. The likely
respondents are businesses or other forprofit institutions, nonprofit institutions,
and small businesses and organizations.
The estimated total annual reporting
burden is 4,730 hours.
The estimated annual burden per respondent varies from 75 to 100 hours,
depending on individual circumstances,
with an estimated average burden of 86
hours. The estimated number of respondents and/or recordkeepers is 55.
The estimated annual frequency of responses is one.
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 26 U.S.C. § 6103.
DRAFTING INFORMATION
The principal author of this revenue
procedure is John C. Heil of the Employee
Plans, Tax Exempt and Government Entities Division. For further information
regarding how this revenue procedure applies to employee plans matters, contact
the Employee Plans Customer Assistance
Service at 1–877–829–5500 (a toll-free
call). Mr. Heil’s telephone number is
(202) 283–9694 (not a toll-free call).

February 17, 2004

APPENDIX A
MODEL NOTICE OF FUNDING WAIVER APPLICATION
TO EMPLOYEE ORGANIZATIONS (UNIONS),
PARTICIPANTS, BENEFICIARIES, AND ALTERNATE PAYEES
This notice is to inform you that an application for a waiver of the minimum funding standard under § 412(d) of the Internal
Revenue Code (Code) and section 303 of the Employee Retirement Income Security Act of 1974 (ERISA) has been submitted by
[INSERT PLAN SPONSOR'S NAME] to the Internal Revenue Service (Service) for the [INSERT PLAN NAME] for the plan
year beginning [INSERT DATE].
Under § 412(f)(4)(B) of the Code and section 303(e)(2) of ERISA, the Service will consider any relevant information submitted
concerning this application for a waiver of the minimum funding standard. You may send this information to the following address:
Director, Employee Plans
Internal Revenue Service
Attention: SE:T:EP:RA:T:A
1111 Constitution Avenue, N.W.
Washington, D.C. 20224
Any such information should be submitted as soon as possible after you have received this notice. Due to the disclosure
restrictions of § 6103 of the Code, the Service can not provide any information with respect to the waiver request itself.
In accordance with section 104 of ERISA and § 2520.104b–10 of the Department of Labor Regulations (29 C.F.R. Part 2520),
annual financial reports for this plan, which include employer contributions made to the plan and the accumulated funding
deficiency for the plan for any plan year, are available for inspection at the Department of Labor in Washington, D.C. Copies of
such reports may be obtained upon request and upon payment of copying costs from the following address:
Public Disclosure Room
Room N–5507
Employee Benefits Security Administration
U.S. Department of Labor
200 Constitution Avenue, N.W.
Washington, D.C. 20210
As required by section 104(b)(2) of ERISA, copies of the latest annual plan report are available for inspection at the principal
office of the plan administrator, who is located at [INSERT ADDRESS]. Copies of the annual report may be obtained upon
request and upon payment of a copying charge of [INSERT CHARGE] by writing to the plan administrator at the above address.
The following information is provided pursuant to § 412(f)(4)(A) of the Code and section 303(e)(1) of ERISA:
Present Value of Vested Benefits $
Present Value of Benefits, calculated as though the plan terminated $
Fair Market Value of Plan Assets $
The above present values were calculated using an interest rate of [INSERT INTEREST RATE].
[SIGNATURE OF APPROPRIATE OFFICER OF THE PLAN SPONSOR]
[INSERT NAME]
[INSERT TITLE]

February 17, 2004

496

2004-7 I.R.B.

APPENDIX B
WAIVER OF MINIMUM FUNDING STANDARD REQUEST CHECKLIST
IS YOUR SUBMISSION COMPLETE?
INSTRUCTIONS
The Service will be able to respond more quickly to your waiver of minimum funding standard request if it is carefully prepared
and complete. To ensure your request is in order, use this checklist. Answer each question in the checklist by inserting Y for yes,
N for no, or N/A for not applicable, as appropriate, in the blank next to the item. Sign and date the checklist (as taxpayer or
authorized representative) and place it on top of your request.
You must submit a completed copy of this checklist with your request. If a completed checklist is not submitted with your request,
substantive consideration of your submission will be deferred until a completed checklist is received.

1. If you want to designate an authorized representative, have you included a properly executed Form 2848
(Power of Attorney and Declaration of Representative)?
2. Have you satisfied all the requirements of Rev. Proc. 2003–4 or its successors (especially concerning
signatures and penalties of perjury statement)? (See section 2.02(1) & (2))
3. Have you included statement of proposed deletions? (See §2.02(3))
4. Have you included the user fee required under Rev. Proc. 2003–8 or its successors? (See section 2.01 &
2.02(3))
5. Have you included a copy of the written notification that an application for a waiver has been submitted
and a statement that such notice was delivered to each employee organization, participant, beneficiary and
alternate payee? (See section 2.02(4) and Appendix A)
6. Have you included the general facts concerning the employer? (See section 2.03(1))
7. Have you included a description of the employer’s financial condition? (See section 2.03(2)).
8. If the plan is not a multiemployer plan, have you included a description of the employer’s executive
compensation arrangements? (See section 2.03(3))
9. Have you included an explanation of the nature and extent of the business hardship, including financial
projections if the waiver request exceeds $1,000,000 and the plan is not a multiemployer plan? (See section 2.03(4))
10. Have you included information concerning the pension plan? (See section 2.03(5))
11. Have you included information concerning other pension, profit-sharing, or stock bonus plans of the
employer? (See section 2.03(6))
12. Have you included information concerning other matters pertaining to the plan? (See section 2.03(7))

2004-7 I.R.B.

497

February 17, 2004

13. Have you provided a digest of financial information? (See section 2.03(8))
14. Have you provided 2 copies of the necessary waiver information described in section 2.03 if the waiver
request exceeds $1,000,000? (See section 2.04)
15. If the waiver request pertains to a defined contribution pension plan, have you provided a copy of the
plan amendment or determination letter request, if applicable? (See section 3.01–3.04)
16. Have you submitted the request for a waiver no later than the 15th day of the 3rd month following
the close of the plan year if the plan is not a multiemployer plan, or no later than the close of the plan year
following the plan year for which the waiver is requested if the plan is a multiemployer plan? (See section 4)

Signature

Date

Title or Authority

Typed or printed name of person signing checklist

February 17, 2004

498

2004-7 I.R.B.

Part IV. Items of General Interest

Announcement of Disciplinary Actions Involving
Attorneys, Certified Public Accountants, Enrolled Agents,
and Enrolled Actuaries — Suspensions, Censures,
Disbarments, and Resignations
Announcement 2004-6
Under Title 31, Code of Federal Regulations, Part 10, attorneys, certified public
accountants, enrolled agents, and enrolled
actuaries may not accept assistance from,
or assist, any person who is under disbarment or suspension from practice before
the Internal Revenue Service if the assistance relates to a matter constituting practice before the Internal Revenue Service
and may not knowingly aid or abet another

person to practice before the Internal Revenue Service during a period of suspension, disbarment, or ineligibility of such
other person.
To enable attorneys, certified public
accountants, enrolled agents, and enrolled
actuaries to identify persons to whom
these restrictions apply, the Director, Office of Professional Responsibility will
announce in the Internal Revenue Bulletin

their names, their city and state, their professional designation, the effective date
of disciplinary action, and the period of
suspension. This announcement will appear in the weekly Bulletin at the earliest
practicable date after such action and will
continue to appear in the weekly Bulletins
for five successive weeks.

Disbarments From Practice Before the Internal Revenue
Service After Notice and an Opportunity for a Proceeding
Under Title 31, Code of Federal Regulations, Part 10, after notice and an oppor-

tunity for a proceeding before an administrative law judge, the following individu-

als have been disbarred from practice before the Internal Revenue Service:

Name

Address

Designation

Effective Date

Baxley II, Milton

Gainesville, FL

CPA

October 24, 2003

Consent Suspensions From Practice Before the Internal
Revenue Service
Under Title 31, Code of Federal Regulations, Part 10, an attorney, certified public accountant, enrolled agent, or enrolled
actuary, in order to avoid institution or conclusion of a proceeding for his or her disbarment or suspension from practice be-

fore the Internal Revenue Service, may offer his or her consent to suspension from
such practice. The Director, Office of Professional Responsibility, in his discretion,
may suspend an attorney, certified public
accountant, enrolled agent or enrolled ac-

tuary in accordance with the consent offered.
The following individuals have been
placed under consent suspension from
practice before the Internal Revenue Service:

Name

Address

Designation

Date of Suspension

Nietupski, John E.

Springfield, MA

Enrolled Agent

Indefinite
from
October 15, 2005

Roberts, Dennis C.

Oklahoma City, OK

Attorney

Indefinite
from
October 27, 2003

2004-7 I.R.B.

499

February 17, 2004

Name

Address

Designation

Date of Suspension

Waldo-Grant, Barbara A.

Grand Rapids, MI

Enrolled Agent

Indefinite
from
November 1, 2003

Naylor, Dale C.

El Cajon, CA

Enrolled Agent

Indefinite
from
November 12, 2003

Schlude, Richard M.

Wilkes Barre, PA

Enrolled Agent

Indefinite
from
November 19, 2003

Stern, Samuel L.

Robbinsdale, MN

Attorney

Indefinite
from
November 19, 2003

Robles, Michael

Dallas, TX

CPA

Indefinite
from
December 1, 2003

Young Jr., Donald A.

Redondo Beach, CA

Enrolled Agent

December 1, 2003
to
August 31, 2004

Hitchcock, William C.

Irvine, CA

Enrolled Agent

Indefinite
from
December 30, 2003

Willms, Bryant E.

Lee Summit, MO

Enrolled Agent

January 1, 2004
to
December 31, 2004

Expedited Suspensions From Practice Before the Internal
Revenue Service
Under Title 31, Code of Federal Regulations, Part 10, the Director, Office of Professional Responsibility, is authorized to
immediately suspend from practice before
the Internal Revenue Service any practitioner who, within five years from the date

the expedited proceeding is instituted (1)
has had a license to practice as an attorney, certified public accountant, or actuary
suspended or revoked for cause or (2) has
been convicted of certain crimes.

The following individuals have been
placed under suspension from practice before the Internal Revenue Service by virtue
of the expedited proceeding provisions:

Name

Address

Designation

Date of Suspension

Greene, Marvin

Chicago, IL

CPA

Indefinite
from
October 21, 2003

Bolusky, Eric B.

Perkins, OK

Attorney

Indefinite
from
October 21, 2003

Crutchfield Jr., Ernest

Latty, OH

Enrolled Agent

Indefinite
from
October 21, 2003

February 17, 2004

500

2004-7 I.R.B.

Name

Address

Designation

Date of Suspension

Covey, Charles

Gladstone, MO

CPA

Indefinite
from
October 23, 2003

Prosperi, Arnold P.

Jupiter Island, FL

Attorney

Indefinite
from
November 24, 2003

Lucas, Christopher

Overland Park, KS

Attorney

Indefinite
from
November 24, 2003

Ramsey, Henry A.

Burnet, TX

CPA

Indefinite
from
December 15, 2003

Resignations of Enrolled Agents
Under Title 31, Code of Federal Regulations, Part 10, an enrolled agent, in order to avoid the institution or conclusion
of a proceeding for his or her disbarment
or suspension from practice before the In-

ternal Revenue Service, may offer his or
her resignation as an enrolled agent. The
Director, Office of Professional Responsibility, in his discretion, may accept the offered resignation.

The Director, Office of Professional
Responsibility, has accepted offers of resignation as an enrolled agent from the
following individuals:

Name

Address

Date of Resignation

Pettyplace, Edward F.

Sacramento, CA

January 30, 2004

Guidance Under Section
1502; Suspension of Losses
on Certain Stock Dispositions;
Correction
Announcement 2004–10
AGENCY: Internal Revenue Service
(IRS), Treasury.
ACTION: Correction to final and temporary regulations.

SUMMARY: This document corrects final and temporary regulations (T.D. 9048,
2003–1 C.B. 644 [68 FR 12287]) published in the Federal Register on March
14, 2003. The final and temporary regulations redetermine the basis of stock
of a subsidiary member of a consolidated group immediately prior to certain
transfers of such stock and certain deconsolidations of a subsidiary member and
also suspend certain losses recognized on
the disposition of stock of a subsidiary
member.
DATES: This document is effective on
March 14, 2003.
FOR
FURTHER
INFORMATION
CONTACT: Aimee K. Meacham, (202)
622–7530 (not a toll-free number).

2004-7 I.R.B.

501

SUPPLEMENTARY INFORMATION:
Background
The final and temporary regulations
(T.D. 9048) that are the subject of these
corrections are under section 1502 of the
Internal Revenue Code.
Need for Correction
As published, the final and temporary
regulations (T.D. 9048) contain errors
that may prove to be misleading and are
in need of clarification. In particular,
this document supplies text clarifying
§ 1.1502–35T(c)((5)(i).
Correction of Publication
Accordingly, the publication of the final
and temporary regulations (T.D. 9048) that
were the subject of FR. Doc. 03–6119, is
corrected as follows:

February 17, 2004

§ 1.1502–35T [Corrected]
1.
On page 12294, column 1,
§ 1.1502–35T(c)(5)(i), line 8 from the
bottom of the paragraph, the language
“subsidiary (or any successor) is not a”
is corrected to read “subsidiary (and any
successor) is not a”.

February 17, 2004

La Nita Van Dyke,
Acting Chief, Publications
and Regulations Branch,
Legal Processing Division,
Associate Chief Counsel (Procedure
and Administration).

502

(Filed by the Office of the Federal Register on January 12,
2004, 8:45 a.m., and published in the issue of the Federal
Register for January 13, 2004, 69 F.R. 1918)

2004-7 I.R.B.

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.

ER—Employer.
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.
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.

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.

2004-7 I.R.B.

i

February 17, 2004

Numerical Finding List1
Bulletins 2004–1 through 2004–7

Revenue Rulings— Continued:
2004-4, 2004-6 I.R.B. 414
2004-5, 2004-3 I.R.B. 295

Announcements:
2004-1, 2004-1 I.R.B. 254
2004-2, 2004-3 I.R.B. 322
2004-3, 2004-2 I.R.B. 294
2004-4, 2004-4 I.R.B. 357
2004-5, 2004-4 I.R.B. 362
2004-6, 2004-3 I.R.B. 322
2004-7, 2004-4 I.R.B. 365

2004-6, 2004-4 I.R.B. 328
2004-7, 2004-4 I.R.B. 327
2004-9, 2004-6 I.R.B. 428
2004-10, 2004-7 I.R.B. 484
2004-11, 2004-7 I.R.B. 480
2004-12, 2004-7 I.R.B. 478
2004-13, 2004-7 I.R.B. 485

Tax Conventions:

2004-8, 2004-6 I.R.B. 441
2004-9, 2004-6 I.R.B. 441

2004-3, 2004-7 I.R.B. 486

2004-10, 2004-7 I.R.B. 501

Treasury Decisions:

Notices:

9099, 2004-2 I.R.B. 255

2004-1, 2004-2 I.R.B. 268

9100, 2004-3 I.R.B. 297

2004-2, 2004-2 I.R.B. 269

9101, 2004-5 I.R.B. 376

2004-3, 2004-5 I.R.B. 391

9102, 2004-5 I.R.B. 366

2004-4, 2004-2 I.R.B. 273

9103, 2004-3 I.R.B. 306

2004-5, 2004-7 I.R.B. 489

9104, 2004-6 I.R.B. 406

2004-6, 2004-3 I.R.B. 308

9105, 2004-6 I.R.B. 419

2004-7, 2004-3 I.R.B. 310

9106, 2004-5 I.R.B. 384

2004-8, 2004-4 I.R.B. 333

9107, 2004-7 I.R.B. 447

2004-9, 2004-4 I.R.B. 334

9108, 2004-6 I.R.B. 429

2004-10, 2004-6 I.R.B. 433
2004-11, 2004-6 I.R.B. 434

Proposed Regulations:
REG-116664-01, 2004-3 I.R.B. 319
REG-122379-02, 2004-5 I.R.B. 392
REG-139845-02, 2004-5 I.R.B. 397
REG-126459-03, 2004-6 I.R.B. 437
REG-156232-03, 2004-5 I.R.B. 399

Revenue Procedures:
2004-1, 2004-1 I.R.B. 1
2004-2, 2004-1 I.R.B. 83
2004-3, 2004-1 I.R.B. 114
2004-4, 2004-1 I.R.B. 125
2004-5, 2004-1 I.R.B. 167
2004-6, 2004-1 I.R.B. 197
2004-7, 2004-1 I.R.B. 237
2004-8, 2004-1 I.R.B. 240
2004-9, 2004-2 I.R.B. 275
2004-10, 2004-2 I.R.B. 288
2004-11, 2004-3 I.R.B. 311
2004-13, 2004-4 I.R.B. 335
2004-14, 2004-7 I.R.B. 489
2004-15, 2004-7 I.R.B. 490

Revenue Rulings:
2004-1, 2004-4 I.R.B. 325
2004-2, 2004-2 I.R.B. 265
2004-3, 2004-7 I.R.B. 486

1

A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2003–27 through 2003–52 is in Internal Revenue Bulletin
2003–52, dated December 29, 2003.

February 17, 2004

ii

2004-7 I.R.B.

Findings List of Current Actions on
Previously Published Items1
Bulletins 2004–1 through 2004–7
Proposed Regulations:

Revenue Procedures— Continued:
2003-7
Superseded by
Rev. Proc. 2004-7, 2004-1 I.R.B. 237
2003-8

REG-115037-00

Superseded by

Corrected by

Rev. Proc. 2004-8, 2004-1 I.R.B. 240

Ann. 2004-7, 2004-4 I.R.B. 365

2003-23

REG-143321-02

Modified and superseded by

Withdrawn by

Rev. Proc. 2004-14, 2004-7 I.R.B. 489

REG-156232-03, 2004-5 I.R.B. 399

2004-1

REG-146893-02

Corrected by

Corrected by

Ann. 2004-8, 2004-6 I.R.B. 441

Ann. 2004-7, 2004-4 I.R.B. 365

2004-4

Revenue Procedures:

Modified by
Rev. Proc. 2004-15, 2004-7 I.R.B. 490

94-41
Superseded by
Rev. Proc. 2004-15, 2004-7 I.R.B. 490
2000-38
Modified by
Rev. Proc. 2004-11, 2004-3 I.R.B. 311

2004-5
Modified by
Rev. Proc. 2004-15, 2004-7 I.R.B. 490
2004-6
Modified by
Rev. Proc. 2004-15, 2004-7 I.R.B. 490

2000-50
Modified by
Rev. Proc. 2004-11, 2004-3 I.R.B. 311
2002-9
Modified by
Rev. Proc. 2004-11, 2004-3 I.R.B. 311
2002-71
Superseded by
Rev. Proc. 2004-13, 2004-4 I.R.B. 335
2003-1
Superseded by
Rev. Proc. 2004-1, 2004-1 I.R.B. 1
2003-2
Superseded by
Rev. Proc. 2004-2, 2004-1 I.R.B. 83
2003-3
As amplified by Rev. Proc. 2003-14, and as
modified by Rev. Proc. 2003-48 superseded by
Rev. Proc. 2004-3, 2004-1 I.R.B. 114
2003-4
Superseded by
Rev. Proc. 2004-4, 2004-1 I.R.B. 125
2003-5
Superseded by
Rev. Proc. 2004-5, 2004-1 I.R.B. 167
2003-6
Superseded by
Rev. Proc. 2004-6, 2004-1 I.R.B. 197

1 A cumulative list of current actions on previously published items in Internal Revenue Bulletins 2003–27 through 2003–52 is in Internal Revenue Bulletin 2003–52, dated December 29,
2003.

2004-7 I.R.B.

iii

*U.S. G.P.O.: 2004—304–774/60122

February 17, 2004