IRS written determination 201550015

Private letter rulings and published taxpayer determination letters. Native document type is retained separately; a determination letter is not labeled a private letter ruling. These taxpayer-specific releases cannot be used or cited as precedent under 26 USC 6110(k)(3); applicability and current legal force are not independently certified. Keep repeated UILC subjects attached to one actual numbered document.

Internal Revenue Service
Department of the Treasury
Washington, DC 20224
Number: 201550015
Release Date: 12/11/2015
Index Number: 4971.02-00
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Third Party Communication: None
Date of Communication: Not Applicable
Person To Contact:
----------------------, ID No. ----------------
Telephone Number:
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Refer Reply To:
CC:TEGE:EB:QP2
PLR-108770-15
Date:
September 2, 2015
Legend
Company = -----------------
Plan = ----------------------------------------
Plan Year A = ------------------------------------------
Plan Year B = ------------------------------------------
Dear -------------------
This letter constitutes notice that, pursuant to the December 30, 2014 request by
Company’s authorized representative, waivers of the 100 percent tax under section
4971(b) of the Internal Revenue Code (“Code”) have been granted for Plan Year A and
Plan Year B, on the condition that Company’s application to the Pension Benefit
Guaranty Corporation (“PBGC”) for a distress termination of the Plan is approved.
In accordance with section 3.04 of Rev. Proc. 81-44, 1981-2 C.B. 618, your authorized
representative furnished evidence that imposition of the 100 percent excise tax would
be a substantial business hardship and would be adverse to the interest of plan
participants in the aggregate. Based on the documentation received, the financial
condition of Company has deteriorated significantly and it cannot continue to afford to
make any contributions to the Plan. Also, in the letter from your authorized
representative, the Internal Revenue Service was informed that Company is pursuing a
distress termination of the Plan with the PBGC. Company did not seek a waiver of the
minimum fundingstandard under section 412(c) with respect to Plan Years A or B
because its substantial business hardship is not expected to be temporary.

PLR-108770-15
2
The conditional waivers of the 100 percent tax have been granted in accordance with
section 3002(b) of the Employee Retirement Income Security Act of 1974 (“ERISA”).
The amounts for which the conditional waivers have been granted are equal to 100
percent of the Plan’s unpaid minimum required contributions as of December 31 of Plan
Years A and B, the end of the plan years for which the waivers have been granted, to
the extent such unpaid minimum required contributions have not been corrected.
Except as expressly provided herein, no opinion is expressed or implied concerning the
tax consequences of any aspect of any transaction or item discussed or referenced in
this letter.
This ruling is directed only to the taxpayer that requested it. Section 6110(k)(3) of the
Code provides that it may not be used or cited by others as precedent.
The ruling contained in this letter is based upon information and representations
submitted by taxpayer’s authorized representative and accompanied by a penalty of
perjury statement executed by an appropriate party. While this office has not verified
any of the material submitted in support of the request for ruling, it is subject to
verification on examination.
Sincerely,
Lauson C. Green
Branch Chief, Qualified Plans Branch 2 (Employee
Benefits)
(Tax Exempt & Government Entities)