a-02-49.pdf

Preserve advance releases and the authoritative Internal Revenue Bulletin rendition; directory timestamps are file-publication metadata, not legal effective dates. HTML bulletins begin June 2003; earlier available issues require full PDF parsing.

This collection currently includes the publisher’s available advance-release directory. Historical bulletin renditions are discovered separately; an advance-release record alone does not certify the collection archive complete.

Part IV. Items of General Interest

Extended Period for Use of Certain Forms

Announcement 2002-49

In Rev. Proc. 2002-10, 2002-4 I.R.B. 401, the Service provided that existing model IRAs,
SEPs and SIMPLE IRA plans may not be used after June 1, 2002, to establish new IRAs, SEPs
or SIMPLE IRA plans. In response to comments, the Service is extending the June 1 deadline
to October 1, 2002. Thus, a financial institution may use an existing model IRA to establish a
new IRA for a customer through October 1, 2002. Similarly, an employer may use an existing
model SEP or SIMPLE IRA plan to establish such a plan through October 1, 2002. The
deadlines by which revised model forms must be adopted under Rev. Proc. 2002-10 are
unchanged.