A “mass supplier” of a forward-approved plan is a U.S. company that makes submissions on behalf of at least 30 unrelated suppliers who have word-for-word plans for the advance-approved mass enrichment plan. Mass bidders who have met the “30 suppliers” requirement may submit additional applications for suppliers with identical plans and suppliers with “minor modifications” to the mass enrichment plan. In addition, if the mass issuer has additional plans, it can submit applications regardless of the number of suppliers it has for the other plans. See section 4.04 of the 2017-41 income procedure. An employer who adopts a master or prototype plan has a choice between a “standardized” or “non-standardized” adoption contract. If a standardized acceptance agreement is duly concluded, approval of the plan is generally not necessary. A non-standardized adoption agreement allows you to select additional options, but is not automatically qualified. A volume enrichment plan provides employers with a large number of plan provisions that are authorized by law in a language verified by the IRS. Unlike the master or prototype plan, which offers few options, a volume enrichment plan usually offers hundreds of variations. The employer has much more flexibility with a volume-deposit plan than a master or prototype plan. The IRS even allows employers to make changes to previously audited rules or add a few unique provisions. Volume enrichment plans are easy to establish because they contain only the provisions of the plan applicable to the employer.

Law firms and some other professional firms can provide volume enrichment plans for their use by their clients. Non-standardized acceptance should be subject to IRS approval (which may destroy one of the goals of using a master`s or prototype plan). A “sponsor” is a U.S. company with at least 15 employer clients (by income procedure 2015-36, section 4.07) whose basic reference document from the promoter is reasonably expected to be adopted before the required date. A proponent may seek advice on any number of basic plan documents and adoption agreements, provided that it has at least 30 employer clients overall, which can reasonably be reasonably expected to accept at least one of the proponent`s basic plan documents. The main drawback of adopting a master`s or prototype is that the employer is limited to the options defined in the adoption agreement. In most cases, the adoption agreement cannot be adapted to the needs or wishes of the employer. The employer must accept the provisions of the master or prototype plan or establish its own plan. One of the advantages of adopting a master or prototype plan is that the costs initially discharged may be lower, since the plan is established only by the completion of the raw materials in the acceptance agreement, as opposed to the development of specific planning provisions. When a plan is updated to reflect a change in tax legislation, the plan document is amended by the proponent for all employers, so that there is no longer a need to modify each plan separately. (However, a new adoption agreement is required for each employer.) Mass issuers generally receive expedited processing from the IRS because of the high volume of suppliers they represent and the number of identical or almost identical plans they submit to the IRS. This makes it simpler and more efficient for verification purposes.

An employer who adopts a master or prototype plan enters into an adoption agreement to select certain options detailed in a separate plan document. (The difference between a master plan and a prototype plan is that the assets of the master plans are grouped into a single fund, while the assets of a prototype plan are not mixed with other plans.) A “mass applicant” of a VS plan is an American company that, on behalf of at least 30 unaffiliated practitioners, files applications for letters of advice, each sponsoring the same m