Definition
A plan that is made available by a plan sponsor for adoption by more than one employers with all the employers using a single funding medium for plan contributions. The funding medium being a trust or custodial account.
A master plan consists of a basic plan document, an adoption agreement and, unless included in the basic plan document, a trust or custodial account document .
Referring Cite
Revenue Procedure 2000-20
Additional Helpful Information
- Master plans include those covering self-employed individuals
- Determination letter requests for master plans are submitted on Form 5307
