A new Notice provides that effective immediately, enrolled retirement plan agents and applicants to become enrolled retirement plan agents are not required to have a PTIN to apply for enrollment or renew enrollment as an enrolled retirement plan agent.

Background. Under the regs governing practice before IRS (Circular 230), enrolled retirement plan agents may practice before IRS, but only with respect to issues involving: employee plans determination letter program; employee plans compliance resolution system; employee plans master and prototype and volume submitter program; and the Form 5300 and Form 5500 series that are filed by retirement plans and plan sponsors, but not with respect to actuarial forms or schedules. Circular 230 requires those seeking to become, or renew their status as, an enrolled retirement plan agent to have a valid PTIN.

Notice 2011-6, 2011-3 IRB 315, Sec. 1.03 (see Federal Taxes Weekly Alert 01/06/2011), requires a tax return preparer to have a PTIN to prepare for compensation any IRS form unless the form is expressly identified as not requiring a PTIN. A list of such PTIN-exempt forms is provided, and the Form 5300 and the Form 5500 series returns are on this list.

Enrolled retirement plan agents catch a break. Having been informed that many enrolled retirement plan agents prepare only the Form 5300 or the Form 5500 series returns, IRS says that, effective immediately, enrolled retirement plan agents and applicants for this status don't need to have a PTIN to apply for enrollment or renew enrollment as an enrolled retirement plan agent. Circular 230 will be amended to reflect this change. However, enrolled retirement plan agents must obtain a PTIN if, for compensation, they prepare, or assist in the preparation of, all or substantially all of any tax return or claim for refund that is not on the list of forms exempt from the PTIN requirement as provided in Notice 2011-6, or future guidance.

Notice 2011-92, 2011-48 IRB