HomeMy WebLinkAboutBack-Up - Draft-AgreementInternal Revenue Service Department of the Treasury
Date: August 3, 2015 Person to Contact:
Ruth Y. Chen, ID#1000281409
Contact Telephone Number:
Robert J. Friedman (626) 927-1423
701 Bricicell Avenue, Suite 3300
Miami, Fl 33154 Refer Reply to:
Internal Revenue Service
TE/GE Group 7530
Fax # 855-224-1307
Dear Sir or Madam:
Enclosed is the draft of the closing agreement containing the terms and
requirements previously discussed with you. If you agree that the draft correctly reflects
our discussions, please contact the above agent at the telephone number indicated.
Copies will then be sent for your signature subject to compliance with terms stated
therein.
If you have any questions as to the draft, please contact the person whose naive
and telephone number are shown above to discuss.
Thank you for your cooperation.
Sincerely yours,
Ruth Y. Chen
Employee Plans Specialist
Enclosure:
Draft copy of the closing agreement
For City of Miami Firefighters' and Police Officer's
CLOSING AGREEMENT ON FINAL DETERMINATION
COVERING SPECIFIC MATTERS
Under section 7121 of the Internal Revenue Code (the Code), City of Miami
(the Employer), 1895 Southwest 31d Avenue, Miami, FL 33129, EIN 59-6000375,
and the Commissioner of Internal Revenue make the follow' closing
agreement (Agreement):
WHEREAS, City of Miami Firefighters' and Polc ' Retirement Trust
(the Plan) was established effective January 1, 1 and
WHEREAS, the Plan received a favorabl etermination lett June 26,
2013, that considered the changes in the ificati requiremen by the
2007 Cumulative List, Notice 2007-94; and
WHEREAS, the Employer su4
intended to satisfy the requiremen
other related provisions of the 201
the Plan nuary 31, 2014, that was
action 401( of the Code and the
've List, N 012-76; and
WHEREAS, the Employer submitt F - - Application), Application
for Determination for a Benefit n, on J ary 31, 2014; and
WHEREAS, t to view of th lication by the TE/GE, Employee
Plans, Determination is' a Inter_ Revenue Service (the Service), it
was deter, " �, t the nded to comply with sections
414(u) n 37} a Code as amended by the Heroes Earnings
Assn ee and Re s x A 8 (HEART) and the Worker, Retiree, and
E ecovery A 200 RERA) relating to nonspouse beneficiary
rollovers a require mpl nce dates in accordance with section 401(b) of
the Code a gulation ereunder, section 5.05 of Revenue Procedure 2007-
m
M
WHEREAS, th ervice proposed revoking the qualified status of the Plan
under section 401 a) of the Code retroactive to the Plan year beginning October
1, 2007, through the Plan year beginning October 1, 2014; and
WHEREAS, the Service determined that no additional correction was required
since the statue adopted on , is fully compliant with the provisions of
HEART and WRERA; and
Closing Agreement with City of Miami
Page 2 of 3
WHEREAS, the Employer certifies that no other corrective action is
necessary because no participants' rights or benefits have been adversely
affected by reason of failure to timely adopt the statutes to comply with HEART
and WRERA; and
WHEREAS, the Employer has determined that the Agreement, as set forth
herein, is in its best interests; and
WHEREAS, the Service, through its authorized represe tine, has
determined that said Agreement is also in its best intens
NOW IT IS HEREBY DETERMINED AN7est
RE or Federal i ome tax
purposes that:
th
1. The total amount due to the Stre under this Agreement
is ten thousand dollars ($14,000). be pa he Employer to the
United States Treasury contemporan usa ex tion of this closing
Agreement by the duly authorized rep a Service.
2. The Employ^fflneattempt t erwise amortize, deduct, or
recover any poent descri paragraph 1 from the Service or
to receive any Feder b,g§V&g,nacco.gW of such payment.
<N1N,e
Nyeee
scribed in paragraph 1 shall be considered as:
(a) tioof any obligation or liability of, any
emorEmployer; or (b) taxable income to any
emore Employer.
4. The Se shall at the Plan as being timely amended to comply with
the provisions OAAWT
and WRERA outlined in this Agreement.
5. This Agreerrfent constitutes a resolution under the Code of specific matters
discussed herein. No inference shall be made with respect to whether this
resolution satisfies other Federal law including Title I of the Employee Retirement
Income Security Act of 1974.
Closing Agreement with City of Miami
Page 3 of 3
This Agreement is final and conclusive except:
(a) the matter it relates to may be reopened in the event of fraud,
malfeasance, or misrepresentation of material fact;
(b) it is subject to the Code sections that expressly provide that effect be
given to their provisions notwithstanding any other law or rule of law except
Code section 7122; and
(c) if it relates to any taxable period ending after the date of this Agreement,
it is subject to any law enacted after the Agreement date that applies to that
taxable period. AL
By signing, the above parties certify that they have and agreed to the
terms of this document.
OPERATIONAL COMPLIANCE STATEMENT
The City of Miami Firefighters' and Police Officers' Retirement Trust
(the Plan) was operated in compliance with the provisions of the
Worker, Retiree, and Employer Recovery Act of 2008 (WRERA)
relating to nonspouse beneficiary rollovers for the period beginning
October 1, 2010, through ; and
The Plan was operated in compliance with sect' 4Ota)(37) of the
Code as amended by the Heroes Earnings ce and Relief Tax
Act of 2008 (HEART) for the period beginni Oct 1, 2007,
through ; and
The Plan was operated in compli Ne�
n 414(rctober
of the
Code as amended by HEART for thginning 1,
2009, through
Employer 7 Date