Common use of Initial Processing Clause in Contracts

Initial Processing. (1) The Service will review whether the eligibility re- quirements of section 4 and the submis- sion requirements of section 12 are satis- fied. (2) If the plan is not the subject of a Favorable Letter or the failure is not an Operational Failure, the compliance fee will be returned to the Plan Sponsor, and the Plan Sponsor will be informed of the option to voluntarily request considera- tion under Walk-in CAP. (3) If a Plan Sponsor requests a compliance statement under the VCR pro- gram for a plan with egregious failures described in section 4.07, the compliance fee will be returned and the Plan Sponsor will be given 60 days to voluntarily re- quest consideration under Walk-in CAP. If by the end of the 60-day period, a re- quest for consideration under Walk-in CAP has not been received, the VCR re- quest will be forwarded to Employee Plans Examinations (see section 12.12 of this revenue procedure)for examination consideration. (4) If the Service determines that a submission is seriously deficient, the Ser- vice reserves the right to return the sub- mission and the compliance fee without contacting the Plan Sponsor. (5) If a request for consideration under the VCR program is not described in paragraph (2), (3), or (4) above, but nevertheless fails to comply with the pro- visions of this revenue procedure or if ad- ditional information is required, a Service representative will generally contact the Plan Sponsor or the Plan Sponsor’s repre- sentative and explain what is needed to complete the submission. The Plan Spon- sor will have 21 calendar days from the date of this contact to provide the re- quested information. If the information is not received within 21 days, the matter will be closed, the compliance fee will not be returned, and the case may be referred to Employee Plans Examinations in ac- cordance with section 10.05(3). Any re- quest for an extension of the 21-day time period must be made in writing within the 21-day time period and must be approved by the Service.

Initial Processing. (1) The Service will review whether the eligibility re- quirements requirements of section 4 and the submis- sion submission requirements of section 12 are satis- fiedsatisfied. (2) If the plan is not the subject of a Favorable Letter or the failure is not an Operational Failure, the compliance fee will be returned to the Plan Sponsor, and the Plan Sponsor will be informed of the option to voluntarily request considera- tion consideration under Walk-in CAP. (3) If a Plan Sponsor requests a compliance statement under the VCR pro- gram program for a plan with egregious failures described in section 4.07, the compliance fee will be returned and the Plan Sponsor will be given 60 days to voluntarily re- quest request consideration under Walk-in CAP. If by the end of the 60-day period, a re- quest request for consideration under Walk-in CAP has not been received, the VCR re- quest request will be forwarded to Employee Plans Examinations (see section 12.12 of this revenue procedure)for examination consideration. (4) If the Service determines that a submission is seriously deficient, the Ser- vice Service reserves the right to return the sub- mission submission and the compliance fee without contacting the Plan Sponsor. (5) If a request for consideration under the VCR program is not described in paragraph (2), (3), or (4) above, but nevertheless fails to comply with the pro- visions provisions of this revenue procedure or if ad- ditional additional information is required, a Service representative will generally contact the Plan Sponsor or the Plan Sponsor’s repre- sentative representative and explain what is needed to complete the submission. The Plan Spon- sor Sponsor will have 21 calendar days from the date of this contact to provide the re- quested requested information. If the information is not received within 21 days, the matter will be closed, the compliance fee will not be returned, and the case may be referred to Employee Plans Examinations in ac- cordance accordance with section 10.05(3). Any re- quest request for an extension of the 21-day time period must be made in writing within the 21-day time period and must be approved by the Service.

Initial Processing. (1) The Service will review whether the eligibility re- quirements requirements of section 4 and the submis- sion submission requirements of section 12 are satis- fiedsatisfied. (2) If the plan is not the subject of a Favorable Letter or the failure is not an Operational Failure, the compliance fee will be returned to the Plan Sponsor, and the Plan Sponsor will be informed of the option to voluntarily request considera- tion consideration under Walk-in CAP. (3) If a Plan Sponsor requests a compliance statement under the VCR pro- gram program for a plan with egregious failures described in section 4.07, the compliance fee will be returned and the Plan Sponsor will be given 60 days to voluntarily re- quest request consideration under Walk-in CAP. If by the end of the 60-day period, a re- quest request for consideration under Walk-in CAP has not been received, the VCR re- quest request will be forwarded to Employee Plans Examinations (see section 12.12 of this revenue procedure)for examination consideration. (4) If the Service determines that a submission is seriously deficient, the Ser- vice Service reserves the right to return the sub- mission submission and the compliance fee without contacting the Plan Sponsor. (5) If a request for consideration under the VCR program is not described in paragraph (2), (3), or (4) above, but nevertheless fails to comply with the pro- visions provisions of this revenue procedure or if ad- ditional additional information is required, a Service representative will generally contact the Plan Sponsor or the Plan Sponsor’s repre- sentative 's representative and explain what is needed to complete the submission. The Plan Spon- sor Sponsor will have 21 calendar days from the date of this contact to provide the re- quested requested information. If the information is not received within 21 days, the matter will be closed, the compliance fee will not be returned, and the case may be referred to Employee Plans Examinations in ac- cordance accordance with section 10.05(3). Any re- quest request for an extension of the 21-day time period must be made in writing within the 21-day time period and must be approved by the Service.