IRS written determination 201511042

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.

Significant Index No. 0412.06-00

TREASURY

ERNAL REVENUE DE

TAX EXEMPT AND
GOVERNMENT ENTITIES
DIVISION

DEPARTMENT OF THE TREASURY
INTERNAL REVENUE SERVICE
WASHINGTON, D.C. 20224

201511042

DEC 18 2014

T: EP.RA: AZ

Re:
Company =
Multiemployer Plan =

Dear

This letter is to inform you that the Company's requests for waivers of the minimum
funding standard for the Plan for the plan years ending .
and through' . 1, have been denied.

In a letter dated :
you were informed that your requests for waivers of
the minimum funding standard had been tentatively denied and were offered a
conference of right in accordance section 12.01 of Rev. Proc. 2014-4, 2014-1 I.R.B.
152. Our tentative denial was based on our analysis of the financial information
provided by the Company. Our analysis concluded that the Company continues to
experience a substantial business hardship that does not appear to be temporary,
assuming the Company is required to continue funding the Plan as a single-employer
plan. A key component of the Company's financial recovery plan, which was provided
with the waiver requests, is the finalization of a merger of the Plan with the
Multiemployer Plan. While the merger in itself would not necessarily resolve the
Company's financial hardship, it would help it to stabilize its ongoing financial health.

However, while the Company has been optimistic in the updates that it has given us
since the conference of right took place
the merger, which was expected to
be finalized by
has not taken place, and according to an update
given to us on
the trustees of the Multiemployer Plan have still not set a
date to finalize the merger. Although we have asked for updated information
concerning the merger in writing, we have not received the information from the
Company to date.

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Nevertheless, even if the merger takes place, our analysis concludes that the
Company's financial hardship does not appear to be temporary. Many of the financial
pressures that have caused the Company's former clients, most of which are
multiemployer plans, to drop the Company's services have not been alleviated in the
current economic climate.

Our letter dated
stated that if you did not contact us to schedule a
conference within 21 days, we would finalize our ruling denying your request for waivers
of the minimum funding standard for the Plan for the plan years ending
and
As of the date of this letter, we have not heard from
you. Accordingly, your request for waivers of the minimum funding standard for the
Plan for the plan years ending
, and '
1, has
been denied.

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.

We have sent a copy of this letter to the Manager, EP Classification in Baltimore,
Maryland, and to the Manager, EP Compliance Unit in Chicago. If you require further
assistance concerning this matter, please contact
at

Sincerely yours,
Niee 1.Html5
William B. Hulteng, Manager
Employee Plans Technical

Cc:

Manager, EP Classification

Baltimore, Maryland

Manager, EP Compliance Unit

Chicago, Illinois