Internal Revenue Bulletin 2017-31 (PDF rendition): IRS Revenue Procedures

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HIGHLIGHTS
OF THIS ISSUE
These synopses are intended only as aids to the reader in
identifying the subject matter covered. They may not be
relied upon as authoritative interpretations.
EMPLOYEE PLANS
Notice 2017–39, page 150.
This notice sets forth updates on the corporate bond monthly
yield curve, the corresponding spot segment rates for July
2017 used under § 417(e)(3)(D), the 24-month average seg-
ment rates applicable for July 2017, and the 30-year Treasury
rates. These rates reflect the application of § 430(h)(2)(C)(iv),
which was added by the Moving Ahead for Progress in the 21st
Century Act, Public Law 112–141 (MAP-21) and amended by
section 2003 of the Highway and Transportation Funding Act of
2014 (HATFA).
ADMINISTRATIVE
Rev. Proc. 2017–43, page 152.
Rev. Proc. 2017– 43 revises procedures for applying for Trea-
sury Department approval of a suspension of benefits under a
multiemployer defined benefit pension plan that is in critical and
declining status under § 432(e)(9). Effective for applications
submitted on or after September 1, 2017, the revenue procedure
modifies and supersedes Rev. Proc. 2016 –27 and is intended to
facilitate the Treasury Department’s review in light of its experi-
ence in processing benefit suspension applications.
INCOME TAX
REG–139633–08, page 175.
This is a partial withdrawal of notice of proposed rulemaking
(REG–163314 – 03) published on March 10, 2005 in the Fed-
eral Register (70 FR 11903) containing proposed regulations
under sections 332, 351, and 368 (2005 Proposed Regula-
tions). On December 12, 2008, Treasury adopted the Creditor
Continuity of Interest provisions of the 2005 Proposed Regu-
lations (TD 9434) published in the Federal Register (73 FR
75566). Minor portions of the 2005 Proposed Regulations that
reflected statutory changes to sections 332 and 351 were
adopted as part of a Treasury decision adopting final regula-
tions under sections 334(b)(1)(B) and 362(e)(1) (TD 9759),
published in the Federal Register (81 FR 17066) on March 28,
2016. The Treasury Department and the IRS have decided to
withdraw the remainder of the 2005 Proposed Regulations that
generally would have provided the non-recognition rules in
subchapter C of chapter 1 of subtitle 1 of the Code do not
apply unless there is an exchange (or, in the case of section
332, a distribution) of net value (the net value requirement).
Finding Lists begin on page ii.
Bulletin No. 2017–31
July 31, 2017

The IRS Mission
Provide America’s taxpayers top-quality service by helping
them understand and meet their tax responsibilities and en-
force the law with integrity and fairness to all.
Introduction
The Internal Revenue Bulletin is the authoritative instrument of
the Commissioner of Internal Revenue for announcing official
rulings and procedures of the Internal Revenue Service and for
publishing Treasury Decisions, Executive Orders, Tax Conven-
tions, legislation, court decisions, and other items of general
interest. It is published weekly.
It is the policy of the Service to publish in the Bulletin all
substantive rulings necessary to promote a uniform application
of the tax laws, including all rulings that supersede, revoke,
modify, or amend any of those previously published in the
Bulletin. All published rulings apply retroactively unless other-
wise indicated. Procedures relating solely to matters of internal
management are not published; however, statements of inter-
nal practices and procedures that affect the rights and duties
of taxpayers are published.
Revenue rulings represent the conclusions of the Service on
the application of the law to the pivotal facts stated in the
revenue ruling. In those based on positions taken in rulings to
taxpayers or technical advice to Service field offices, identify-
ing details and information of a confidential nature are deleted
to prevent unwarranted invasions of privacy and to comply with
statutory requirements.
Rulings and procedures reported in the Bulletin do not have the
force and effect of Treasury Department Regulations, but they
may be used as precedents. Unpublished rulings will not be
relied on, used, or cited as precedents by Service personnel in
the disposition of other cases. In applying published rulings and
procedures, the effect of subsequent legislation, regulations,
court decisions, rulings, and procedures must be considered,
and Service personnel and others concerned are cautioned
against reaching the same conclusions in other cases unless
the facts and circumstances are substantially the same.
The Bulletin is divided into four parts as follows:
Part I.—1986 Code.
This part includes rulings and decisions based on provisions of
the Internal Revenue Code of 1986.
Part II.—Treaties and Tax Legislation.
This part is divided into two subparts as follows: Subpart A, Tax
Conventions and Other Related Items, and Subpart B, Legisla-
tion and Related Committee Reports.
Part III.—Administrative, Procedural, and Miscellaneous.
To the extent practicable, pertinent cross references to these
subjects are contained in the other Parts and Subparts. Also
included in this part are Bank Secrecy Act Administrative Rul-
ings. Bank Secrecy Act Administrative Rulings are issued by
the Department of the Treasury’s Office of the Assistant Sec-
retary (Enforcement).
Part IV.—Items of General Interest.
This part includes notices of proposed rulemakings, disbar-
ment and suspension lists, and announcements.
The last Bulletin for each month includes a cumulative index for
the matters published during the preceding months. These
monthly indexes are cumulated on a semiannual basis, and are
published in the last Bulletin of each semiannual period.
The contents of this publication are not copyrighted and may be reprinted freely. A citation of the Internal Revenue Bulletin as the source would be appropriate.
July 31, 2017Bulletin No. 2017–31

Part III. Administrative, Procedural, and Miscellaneous
Update for Weighted
Average Interest Rates,
Yield Curves, and Segment
Rates
Notice 2017–39
This notice provides guidance on the
corporate bond monthly yield curve, the
corresponding spot segment rates used un-
der § 417(e)(3), and the 24-month average
segment rates under § 430(h)(2) of the
Internal Revenue Code. In addition, this
notice provides guidance as to the interest
rate on 30-year Treasury securities under
§ 417(e)(3)(A)(ii)(II) as in effect for plan
years beginning before 2008 and the 30-
year Treasury weighted average rate un-
der § 431(c)(6)(E)(ii)(I).
YIELD CURVE AND SEGMENT
RATES
Generally, except for certain plans un-
der sections 104 and 105 of the Pension
Protection Act of 2006 and CSEC plans
under § 414(y), § 430 of the Code speci-
fies the minimum funding requirements
that apply to single-employer plans pursu-
ant to § 412. Section 430(h)(2) specifies
the interest rates that must be used to
determine a plan’s target normal cost and
funding target. Under this provision, present
value is generally determined using three
24-month average interest rates (“segment
rates”), each of which applies to cash flows
during specified periods. To the extent pro-
vided under § 430(h)(2)(C)(iv), these seg-
ment rates are adjusted by the applicable
percentage of the 25-year average segment
rates for the period ending September 30 of
the year preceding the calendar year in
which the plan year begins.
1
However, an
election may be made under § 430(h)(2)
(D)(ii) to use the monthly yield curve in
place of the segment rates.
Notice 2007– 81, 2007– 44 I.R.B. 899,
provides guidelines for determining the
monthly corporate bond yield curve, and
the 24-month average corporate bond seg-
ment rates used to compute the target nor-
mal cost and the funding target. Consis-
tent with the methodology specified in
Notice 2007– 81, the monthly corporate
bond yield curve derived from June 2017
data is in Table I at the end of this notice.
The spot first, second, and third segment
rates for the month of June 2017 are,
respectively, 1.96, 3.60, and 4.39.
The24-monthaveragesegment
rates determined under § 430(h)(2)(C)(i)
through(iii) must be adjusted pursuant to
§ 430(h)(2)(C)(iv) to bewithin the applicable
minimum and maximum percentages of the
corresponding 25-year average segment
rates. For plan years beginning before 2021,
the applicable minimum percentage is 90%
and the applicable maximum percentage is
110%. The 25-year average segment rates
for plan years beginning in 2015, 2016,
and 2017 were published in Notice 2014 –
50, 2014 – 40 I.R.B. 590, Notice 2015– 61,
2015–39 I.R.B. 408, and Notice 2016 –54,
2016 – 40 I.R.B. 429, respectively.
24-MONTH AVERAGE CORPORATE
BOND SEGMENT RATES
The three 24-month average corporate
bond segment rates applicable for July
2017 without adjustment for the 25-year
average segment rate limits are as follows:
Applicable MonthFirst SegmentSecond SegmentThird Segment
July 20171.723.804.72
Based on § 430(h)(2)(C)(iv), the 24-
month averages applicable for July 2017
adjusted to be within the applicable min-
imum and maximum percentages of the
corresponding 25-year average segment
rates, are as follows:
For Plan Years
Beginning In
Adjusted 24-Month Average Segment Rates
Applicable MonthFirst SegmentSecond SegmentThird Segment
2016July20174.435.916.65
2017July20174.165.726.48
30-YEAR TREASURY SECURITIES
INTEREST RATES
Generally for plan years beginning af-
ter 2007, § 431 specifies the minimum
funding requirements that apply to multiem-
ployer plans pursuant to § 412. Section
431(c)(6)(B) specifies a minimum amount
for the full-funding limitation described in
§ 431(c)(6)(A), based on the plan’s current
liability. Section 431(c)(6)(E)(ii)(I) provides
that the interest rate used to calculate current
liability for this purpose must be no more
than 5 percent above and no more than 10
percent below the weighted average of the
rates of interest on 30-year Treasury securi-
ties during the four-year period ending on
the last day before the beginning of the plan
year. Notice 88 –73, 1988 –2 C.B. 383,
provides guidelines for determining the
weighted average interest rate. The rate of
interest on 30-year Treasury securities for
June 2017 is 2.80 percent. The Service de-
termined this rate as the average of the daily
1
Pursuant to § 433(h)(3)(A), the 3
rd
segment rate determined under § 430(h)(2)(C) is used to determine the current liability of a CSEC plan (which is used to calculate the minimum amount
of the full funding limitation under § 433(c)(7)(C)).
July 31, 2017Bulletin No. 2017–31
150

determinations of yield on the 30-year Trea-
sury bond maturing in May 2047. For plan
years beginning in the month shown below,
the weighted average of the rates of interest
on 30-year Treasury securities and the per-
missible range of rates used to calculate
current liability are as follows:
For Plan Years
Beginning in
30-Year Treasury
Weighted Average
Permissible Range
MonthYear90%to105%
July20172.902.613.04
MINIMUM PRESENT VALUE
SEGMENT RATES
In general, the applicable interest rates
under § 417(e)(3)(D) are segment rates
computed without regard to a 24-month
average. Notice 2007– 81 provides guide-
lines for determining the minimum pres-
ent value segment rates. Pursuant to that
notice, the minimum present value seg-
ment rates determined for June 2017 are
as follows:
First SegmentSecond SegmentThird Segment
1.963.604.39
DRAFTING INFORMATION
The principal author of this notice is
Tom Morgan of the Office of the Associ-
ate Chief Counsel (Tax Exempt and Gov-
ernment Entities). However, other person-
nel from the IRS participated in the
development of this guidance. For further
information regarding this notice, contact
Mr. Morgan at 202-317-6700 or Tony
Montanaro at 202-317-8698 (not toll-free
numbers).
Bulletin No. 2017–31July 31, 2017
151

Table I
Monthly Yield Curve for June 2017
Derived from June 2017 Data
MaturityYieldMaturityYieldMaturityYieldMaturityYieldMaturityYield
0.51.3920.54.1640.54.4260.54.5180.54.56
1.01.5621.04.1741.04.4261.04.5181.04.56
1.51.7121.54.1841.54.4361.54.5181.54.56
2.01.8422.04.1942.04.4362.04.5282.04.56
2.51.9522.54.2042.54.4362.54.5282.54.56
3.02.0423.04.2143.04.4463.04.5283.04.56
3.52.1323.54.2243.54.4463.54.5283.54.56
4.02.2224.04.2344.04.4464.04.5284.04.56
4.52.3224.54.2444.54.4464.54.5284.54.56
5.02.4225.04.2545.04.4565.04.5285.04.57
5.52.5225.54.2645.54.4565.54.5385.54.57
6.02.6326.04.2746.04.4566.04.5386.04.57
6.52.7426.54.2746.54.4666.54.5386.54.57
7.02.8427.04.2847.04.4667.04.5387.04.57
7.52.9527.54.2947.54.4667.54.5387.54.57
8.03.0528.04.3048.04.4668.04.5388.04.57
8.53.1528.54.3048.54.4768.54.5388.54.57
9.03.2529.04.3149.04.4769.04.5389.04.57
9.53.3329.54.3249.54.4769.54.5489.54.57
10.03.4230.04.3250.04.4770.04.5490.04.57
10.53.4930.54.3350.54.4770.54.5490.54.57
11.03.5631.04.3351.04.4871.04.5491.04.57
11.53.6331.54.3451.54.4871.54.5491.54.58
12.03.6932.04.3552.04.4872.04.5492.04.58
12.53.7432.54.3552.54.4872.54.5492.54.58
13.03.7933.04.3653.04.4973.04.5493.04.58
13.53.8433.54.3653.54.4973.54.5493.54.58
14.03.8834.04.3754.04.4974.04.5594.04.58
14.53.9134.54.3754.54.4974.54.5594.54.58
15.03.9535.04.3855.04.4975.04.5595.04.58
15.53.9735.54.3855.54.4975.54.5595.54.58
16.04.0036.04.3856.04.5076.04.5596.04.58
16.54.0336.54.3956.54.5076.54.5596.54.58
17.04.0537.04.3957.04.5077.04.5597.04.58
17.54.0737.54.4057.54.5077.54.5597.54.58
18.04.0938.04.4058.04.5078.04.5598.04.58
18.54.1038.54.4058.54.5178.54.5598.54.58
19.04.1239.04.4159.04.5179.04.5699.04.58
19.54.1339.54.4159.54.5179.54.5699.54.59
20.04.1540.04.4260.04.5180.04.56100.04.59
July 31, 2017Bulletin No. 2017–31
152

26 CFR § 1.432(e)(9)–1: Benefit suspensions for
multiemployer plans in critical and declining status.
(Also § 432). Application Procedures for Approval
of Benefit Suspensions for Certain Multiemployer
Defined Benefit Pension Plans under § 432(e)(9)
Rev. Proc. 2017–43
This revenue procedure contains re-
vised procedures for applications for a
suspension of benefits under a multiem-
ployer defined benefit pension plan that is
in critical and declining status under
§ 432(e)(9). These procedures replace the
procedures set forth in Rev. Proc. 2016 –
27, 2016 –19 I.R.B. 725, and are intended
to facilitate the review of an application
for a suspension of benefits in light of the
experience of the Department of the Trea-
sury (Treasury Department) in processing
applications. The procedures set forth in
this revenue procedure must be followed
for applications submitted on or after Sep-
tember 1, 2017.
SECTION 1. BACKGROUND AND
PURPOSE
Section 201 of the Multiemployer Pen-
sion Reform Act of 2014, Division O of
the Consolidated and Further Continuing
Appropriations Act, 2015, Public Law 113–
235 (128 Stat. 2130 (2014)) (MPRA),
amended the Internal Revenue Code (Code)
and the Employee Retirement Income Se-
curity Act of 1974, Public Law 93– 406 (88
Stat. 829 (1974)), as amended (ERISA), to
permit the sponsor of a multiemployer
defined benefit plan in critical and de-
clining status to suspend benefits in cer-
tain situations.
In particular, MPRA amended § 432(e)(9)
of the Code and section305(e)(9) of
ERISA to permit the sponsor of a mul-
tiemployer defined benefit plan in critical
and declining status to submit to the Sec-
retary of the Treasury (Secretary) an ap-
plication to suspend benefits in certain
situations. MPRA requires the Secretary
to approve a plan sponsor’s proposed sus-
pension if the plan is eligible for the pro-
posed suspension and the proposed sus-
pension satisfies § 432(e)(9)(C) through
(F) of the Code.
1
On April 28, 2016, the Treasury De-
partment and IRS published final regula-
tions (TD 9765) under § 432(e)(9) in the
Federal Register (81 FR 25540). The
Treasury Department and the IRS issued
Rev. Proc. 2016 –27 contemporaneously
with the final regulations. Rev. Proc.
2016 –27 (which replaced Rev. Proc.
2015–34 (2015–27 I.R.B. 1218)) pre-
scribed the application process for ap-
proval of a proposed benefit suspension in
accordance with § 432(e)(9)(G) and pro-
vided a model notice that a plan sponsor
proposing a benefit suspension could use to
satisfy the content and readability require-
ments of § 432(e)(9)(F)(ii) and (iii)(II).
This revenue procedure supersedes
Rev. Proc. 2016 –27 and applies to sub-
missions made on or after September 1,
2017. Therefore, plan sponsors should fol-
low the application process prescribed in
this revenue procedure for an application
for approval of a proposed benefit suspen-
sion submitted on or after that date.
This revenue procedure includes the
following changes from Rev. Proc. 2016 –
27:
•Section 2.07 has been revised to pro-
vide that if the Treasury Department
identifies an error in the application
after it is submitted, then the Treasury
Department may request that the plan
sponsor provide additional materials to
correct the error.
•Sections 3.01(2) and 3.02(2) contain a
new requirement that the projected
withdrawal liability payments that are
included as part of the projection of the
plan’s available resources, and as part
of the support for the certification that
the plan is projected to avoid insol-
vency (taking the proposed suspension
into account), must be separately
identified as projected payments at-
tributable to prior withdrawals and
projected payments attributable to
expected future withdrawals.
•Sections 4.01(1) and 4.01(2) have been
simplified by replacing the requirement
to provide sample calculations with re-
spect to the guarantee-based limita-
tion under § 432(e)(9)(D)(i) and
the disability-based limitation under
§ 432(e)(9)(D)(iii) for an individual
in each category or group that is
treated differently under the suspen-
sion with a requirement that those
sample calculations be provided only
for an individual currently receiving
benefits, a contingent beneficiary
of an individual currently receiving
benefits, and a future retiree.
•Section 4.01(3) has been clarified to
specify the age categories for which
sample calculations with respect to
theage-basedlimitationunder
§ 432(e)(9)(D)(ii) (taking into ac-
count the guarantee-based limitation
and, if applicable, the disability-
based limitation) must be provided.
•Section 4.04(2) has been revised to
provide that certain information that
would otherwise be required to dem-
onstrate that the proposed suspension
is equitably distributed in accordance
with § 432(e)(9)(D)(vi) need not be
provided in the case of an application
in connection with a proposed parti-
tion of a plan under section 4233 of
ERISA (“partition”).
•Section 4.05 has been revised to clar-
ify the different categories of individ-
uals with respect to which sample no-
tices must be provided as part of the
application.
•A new section 6.03 and Appendix B
have been added to consolidate the
descriptions of the actuarial assump-
tions used with respect to certain illus-
trations and projections included in the
application (formerly contained in sec-
tions 3.01, 3.02, 4.02 and 4.03) and to
provide additional detail regarding
those assumptions.
•Section 6.09 (formerly section 6.08)
has been revised to require the inclu-
sion of a narrative statement of the
reasons the plan is in critical and de-
clining status.
•Section 7.08 has been revised to add a
requirement to provide (as part of the
required excerpts from the most re-
cently filed Form 5500) the accoun-
tant’s report under section 103(a)(3) of
ERISA.
1
Section 201 of MPRA made amendments to section 305 of ERISA that are parallel to the amendments to § 432(e)(9) of the Code and directed the Treasury Department to publish guidance
to implement these provisions under ERISA as well as the Code. See also section 101 of Reorganization Plan No. 4 of 1978 (43 FR 47713). Accordingly, the provisions of this revenue
procedure pertaining to § 432(e)(9) of the Code apply also for purposes of the corresponding provisions of section 305(e)(9) of ERISA. Furthermore, the Secretary’s approval of a proposed
suspension would apply for purposes of section 305(e)(9) of ERISA, as well for purposes of § 432(e)(9) of the Code.
Bulletin No. 2017–31July 31, 2017
153

•Section 8.02 has been revised to add a
requirement to provide the date on
which the Treasury Department indi-
cated that the application is a candidate
for resubmission review, if applicable.
•Appendix A has been revised to in-
clude minor clarifications to the Model
Notice of Application for Approval of
a Proposed Reduction of Benefits.
•Appendix C (formerly Appendix B)
has been revised to include minor clar-
ifications to the power of attorney and
declaration of representative form.
•Appendix D (formerly Appendix C)
has been updated to make clarifica-
tions to the application checklist and to
reflect the other changes made to this
revenue procedure.
SECTION 2. APPLICATION
PROCEDURES
This section prescribes procedures for
applying for approval of a proposed sus-
pension of benefits, including information
that must be included in the application. A
plan sponsor may be required to provide
additional information with respect to any
application after it is submitted. For ex-
ample, the plan sponsor may be required
to provide individual participant data that
would permit the Secretary to confirm that
the sample and actuarial calculations pro-
vided in the application, such as those
provided for purposes of section 4 of this
revenue procedure, are accurate and ap-
plied in a consistent manner.
.01Who may submit an application.
An application for approval of a proposed
benefit suspension under § 432(e)(9) must
be submitted by the plan sponsor as de-
fined in § 432(j)(9) (generally, the joint
board of trustees of the plan) or by an
authorized representative of the plan
sponsor. The application must be signed
and dated by an authorized trustee who is
a current member of the board of trustees
or by an authorized representative of the
plan sponsor who is described in section
7.01(13) of Rev. Proc. 2017–1, 2017–1
I.R.B. 1.
2
.02Terms of proposed benefit suspen-
sion. The application must include a de-
scription of the proposed benefit suspen-
sion. The description must include the
following information:
(1) The effective date of the proposed
suspension.
(2) If the proposed suspension will ex-
pire by its own terms, the expiration date.
(3) If the proposed suspension does not
provide for different treatment of partici-
pants and beneficiaries (other than as a
result of application of the individual lim-
itations of § 432(e)(9)(D)(i), (ii) and (iii)
(the “individual limitations”)), a statement
to that effect.
(4) If the proposed suspension provides
for different treatment of participants and
beneficiaries (other than as a result of ap-
plication of the individual limitations), the
categories or groups of individuals for
which the proposed suspension provides
for different treatment (other than as a
result of application of the individual lim-
itations) and how those categories or
groups are defined. The description must
describe the differences in treatment, in-
cluding the formula used to calculate the
amount of the proposed benefit suspen-
sion for individuals in each category or
group. Although any benefit suspension
must take into account the individual lim-
itations on a benefit suspension, for ease
of presentation and understanding, the
amount of the proposed benefit suspension
described in this section 2.02 for an individ-
ual must be calculated as if the individual
limitations did not apply to that individual.
(Note that the application of those limita-
tions must be described pursuant to section
4.01 of this revenue procedure, below.)
.03Penalties of perjury. The following
statement signed by an authorized trustee
on behalf of the board of trustees that the
application is submitted under penalties of
perjury: “Under penalties of perjury, I de-
clare that I have examined this applica-
tion, including the accompanying docu-
ments, and, to the best of my knowledge
and belief, the request contains all the
relevant facts relating to the request, and
such facts are true, correct, and complete.”
.04Public disclosure. A statement
signed by an authorized trustee on behalf
of the board of trustees acknowledging
that, pursuant to § 432(e)(9)(G)(ii), the
application for approval of the proposed
suspension of benefits, and the applica-
tion’s supporting material, will be pub-
licly disclosed through publication on the
Treasury Department website.
.05Where to submit an application.An
application must be submitted to:
www.treasury.gov/mpra
.06Signature. Any signature required
by this revenue procedure must be submit-
ted electronically in Portable Document
Format as part of the application. A
stamped signature is not permitted.
.07Duty to correct. If, after submission
of an application for a suspension of bene-
fits, an error in that application is identified
by the plan sponsor, then the plan sponsor
must provide prompt notice to the Treasury
Department. In such a case (or if the Trea-
sury Department identifies an error in the
application), the Treasury Department may
request additional materials in order to cor-
rect the error in the application.
.08Resubmission review. If the appli-
cation for a suspension is submitted under
the resubmission review process pursuant
to § 1.432(e)(9)–1(g)(3), see section 8 of
this revenue procedure for special proce-
dures that apply.
SECTION 3. DEMONSTRATION
THAT PLAN IS ELIGIBLE FOR
SUSPENSION
The application must include the fol-
lowing information providing support for
the plan sponsor’s method of satisfying
the benefit suspension criteria under
§ 432(e)(9), including the plan’s eligibil-
ity for the suspension:
.01Plan actuary’s certification of criti-
cal and declining status. The plan actuary’s
certification required under §432(b)(3)(A)
that the plan is in critical and declining
status as defined in § 432(b)(6) for the
plan year in which the application is submit-
ted. Documentation supporting the actuarial
certification of status must be included with
the certification, including a plan-year-by-
plan-year projection of the available re-
sources as defined in §418E(b)(3) and the
benefits that are due under the plan, dem-
onstrating that the plan is projected to
become insolvent during the period de-
scribed in § 432(b)(6) that applies to the
plan. The plan-year-by-plan-year projec-
2
Section 7.01(13) of Rev. Proc. 2017–1 provides that the following parties may be authorized representatives if appropriately accredited or authorized: attorney, certified public accountant,
enrolled agent, enrolled actuary, and enrolled retirement plan agent.
July 31, 2017Bulletin No. 2017–31
154

tion must separately identify the market
value of assets as of the beginning and end
of each plan year in the relevant period
and the following cash-flow items for
each of those years:
(1) Contributions.
(2) Withdrawal liability payments, sep-
arately identifying those payments that are
attributable to prior withdrawals and those
payments that are attributable to assumed
future withdrawals.
(3) Benefit payments, separately iden-
tifying benefit payments with respect to
current retirees and beneficiaries, termi-
nated vested participants who are not cur-
rently receiving benefits, currently active
participants, and future new entrants.
(4) Administrative expenses.
(5) Net investment returns.
.02Plan actuary’s certification that the
plan is projected to avoid insolvency. The
plan actuary’s certification to the plan
sponsor under § 432(e)(9)(C)(i) that the
plan is projected to avoid insolvency
within the meaning of § 418E, taking into
account the proposed benefit suspension
(and, if applicable, a proposed partition of
the plan) and assuming that the proposed
suspension continues until it expires by
its own terms or, if no such expiration
date is set, indefinitely. Documentation
supporting the actuarial certification under
§ 432(e)(9)(C)(i) must be included with the
certification, including a plan-year-by-plan-
year projection of the available resources
within the meaning of § 418E(b)(3) and the
benefits that are due under the plan demon-
strating the avoidance of insolvency of the
plan over the extended period described in
§ 1.432(e)(9)–1(d)(5)(ii)(C). The plan-year-
by-plan-year projection must separately
identify the market value of assets as of the
beginning and end of the initial period (as
defined below) and of each subsequent plan
year in the extended period and the follow-
ing cash-flow items for the initial period and
each of those plan years:
(1) Contributions.
(2) Withdrawal liability payments, sep-
arately identifying those payments that are
attributable to prior withdrawals and those
payments that are attributable to assumed
future withdrawals.
(3) Benefit payments, separately iden-
tifying benefit payments with respect to
current retirees and beneficiaries, termi-
nated vested participants who are not cur-
rently receiving benefits, currently active
participants, and future new entrants.
(4) Administrative expenses.
(5) Net investment returns.
For this purpose, the initial period be-
gins on the first day of the calendar quar-
ter in which the application is submitted
and ends with the last day of the plan year
that includes that first day.
.03Plan sponsor’s determination of
projected insolvency. The plan sponsor’s
determination under § 432(e)(9)(C)(ii) that
the plan would not be projected to avoid
insolvency if no suspension of benefits were
applied under the plan, even though all rea-
sonable measures to avoid insolvency have
been taken. The determination must include
the documentation set forth in section 5 of
this revenue procedure.
SECTION 4. DEMONSTRATION
THAT THE PROPOSED
SUSPENSION SATISFIES THE
STATUTORY REQUIREMENTS
The application must include the fol-
lowing information to demonstrate that
certain statutory limitations and notice re-
quirements are satisfied with respect to the
proposed suspension of benefits:
.01Demonstration that limitations on
individual suspensions are satisfied.A
demonstration of how the proposed sus-
pension satisfies the individual limita-
tions.
3
The demonstration must include:
(1) A sample calculation applying
the guarantee-based limitation under
§ 432(e)(9)(D)(i) of the Code for an indi-
vidual currently receiving benefits, a con-
tingent beneficiary of an individual cur-
rently receiving benefits, and a future
retiree. Each sample calculation must
identify how the monthly benefit that
would be guaranteed under section 4022A
of ERISA is calculated (assuming, for this
purpose, that no portion of the individu-
al’s benefit under the plan is subject to
permitted forfeiture under § 411(a) of the
Code, due, for example, to a failure to vest
in accordance with the vesting schedule
specified under the plan). The calculation
must identify the extent, if any, to which
the monthly guaranteed benefit calculated
under section 4022A of ERISA is reduced
on account of any of the following limi-
tations or exclusions:
(a) The section 4022A(a) exclusion of
certain forfeitable benefits (for example,
increased benefits that have not become
part of the accrued benefit).
(b) The section 4022A(b)(1)(A) exclu-
sion of certain benefits and benefit in-
creases in effect for less than 60 months.
(c) The limitations contained in the
section 4022A(c)(2) definition of the ac-
crual rate used for calculating the monthly
guaranteed benefit.
4
(d) The section 4022A(d) limitation
that the guaranteed benefit will not exceed
the benefit calculated under the plan as
reduced under § 411(a)(3)(E) of the Code.
(e) The section 4022A(e) exclusion,
pursuant to section 4022(b)(6), of benefits
that would not be guaranteed if paid under
a single-employer plan (i.e., benefits paid
from a plan that does not satisfy the re-
quirements of § 401(a) or § 404(a)(2) of
the Code).
(2) If the plan provides for benefits
based on disability (as defined under the
plan):
(a) A description of each benefit based
on disability, as defined under the plan,
that is paid to an individual under the plan
(including disability benefits that are not
available to newly disabled participants),
and
(b) For each type of benefit based
on disability, a sample calculationapply-
ing the disability-based limitation under
§ 432(e)(9)(D)(iii) of the Code for an in-
dividual currently receiving benefits, a
contingent beneficiary of an individual
currently receiving benefits, and a future
retiree. The sample calculation should
show how the plan determines the extent
to which any benefit paid with respect to a
3
The sample calculations submitted pursuant to this section 4.01 must not include personally identifiable information with respect to any individual, such as a name or Social Security number.
4
Under the limitations contained in this definition, the accrual rate is determined based on a monthly benefit eligible for the PBGC guarantee that is no greater than the monthly benefit payable
under the plan at normal retirement age in the form of a single life annuity (so that, for example, the benefit used to determine the accrual rate does not reflect an actuarial increase related
to delayed retirement or increased initial payments that are the result of benefit payments in the form of a social security level income option). In addition, the accrual rate is determined
without regard to any reduction under § 411(a)(3)(E) of the Code. In order to determine the accrual rate, the monthly benefit is divided by the participant’s years of credited service (which
cannot exceed 1 year for any year of participation).
Bulletin No. 2017–31July 31, 2017
155

participant who commenced (or will com-
mence) benefits as a result of disability is,
or is not, treated as a benefit based on
disability. If some but not all of an indi-
vidual’s benefit is not described in the
plan as a disability benefit (for example, if
a plan provides a retirement benefit at
normal retirement age that is greater than
a disability benefit paid before normal re-
tirement age), then the calculation must
show the extent to which the retirement
benefit is, or is not, a benefit based on
disability.
(3) Sample calculations applying the age-
based limitation under § 432(e)(9)(D)(ii). The
samplecalculations must show how the
proposed suspension satisfies the age-
based limitation taking into account the
guarantee-based limitation. If some but
not all of an individual’s benefit is not
described in the plan as a disability bene-
fit, then the sample calculations must also
show how the proposed suspension satis-
fies the age-based limitation taking into
account both the guarantee-based limita-
tion and the disability-based limitation.
Separate sample calculations must be pro-
vided for individuals in each category or
group identified in accordance with sec-
tion 2.02(4) of this revenue procedure that
contains an individual who is over age 75.
For each such category or group, sample
calculations must be provided for the fol-
lowing individuals:
(a) A retiree or beneficiary who has
commenced benefits as of the effective
date of the proposed suspension and who
is between age 75 and age 79 on the last
day of the month that contains the pro-
posed effective date of the suspension.
(b) A beneficiary of a retiree described
in section 4.01(3)(a) of this revenue pro-
cedure.
(c) An individual who has not com-
menced benefits as of the effective date of
the proposed suspension.
.02Demonstration that the proposed
suspension is reasonably estimated to en-
able the plan to avoid insolvency.A
demonstration that, in accordance with
§ 432(e)(9)(D)(iv), the proposed benefit
suspension (considered, if applicable, in
combination with a proposed partition of
the plan) is reasonably estimated to enable
the plan to avoid insolvency. The demon-
stration must include:
(1) An illustration, prepared on a de-
terministic basis, showing that:
(a) For each plan year during the ex-
tended period described in § 1.432(e)(9)–
1(d)(5)(ii)(C), the plan’s solvency ratio –
the ratio of the plan’s available resources
(as defined in § 418E(b)(3)) to the sched-
uled benefit payments under the plan for
the plan year – is projected on a determin-
istic basis to be at least 1.0.
(b) If the plan’s projected funded per-
centage at the end of the extended period
is less than or equal to 100 percent, then
neither the plan’s solvency ratio nor its
available resources are projected to de-
crease in any of the last five plan years of
the extended period.
(2) An illustration, using stochastic
projections that reflect variance in invest-
ment return, that the probability the plan
will avoid insolvency throughout the ex-
tended period as a result of the proposed
suspension is greater than 50 percent.
(The plan sponsor of a plan that is not
required to appoint a retiree representative
under § 432(e)(9)(B)(v)(I) is not required
to provide this illustration, unless the plan
sponsor chooses to use stochastic projec-
tions to demonstrate that the plan will
avoid insolvency.)
(3) Information on the actuarial as-
sumptions used for the illustrations, as
described in section 6.03 of this revenue
procedure.
.03Demonstration that the proposed
suspension is reasonably estimated to not
materially exceed the level necessary to
avoid insolvency. In the case of a plan that
is not applying for a partition of the plan
in combination with a suspension, a
demonstration that, in accordance with
§ 432(e)(9)(D)(iv), the proposed benefit
suspension is reasonably estimated to not
materially exceed the level necessary to
enable the plan to avoid insolvency. For
this purpose, the assumptions used must
be the same as those used for purposes of
4.02 of this revenue procedure. The dem-
onstration must include an illustration,
prepared on a deterministic basis, of the
plan’s available resources and solvency
ratio as described in section 4.02(1) of this
revenue procedure (and an illustration of
the probability that the plan will avoid
insolvency prepared using stochastic pro-
jections, as described in section 4.02(2) of
this revenue procedure if those stochastic
projections were used for the plan) show-
ing that the proposed suspension would
not reasonably be estimated to enable the
plan to avoid insolvency if the dollar
amount of the proposed suspension for
each participant and beneficiary were re-
duced (but not below zero) by the greater
of—
(1) Five percent of the reduction in the
periodic payment proposed for that partic-
ipant or beneficiary; or
(2) Two percent of the participant’s
or beneficiary’s periodic payment deter-
mined without regard to the reduction pro-
posed in the application.
.04Demonstration that the proposed
benefit suspension is distributed equita-
bly. A demonstration that, in accordance
with § 432(e)(9)(D)(vi), the proposed ben-
efit suspension is distributed in an equita-
ble manner across the participant and ben-
eficiary population.
(1) For the plan in the aggregate, the
application must include the following:
(a) A statement of the number of par-
ticipants, beneficiaries, and alternate pay-
ees; the average monthly benefit before
the suspension; the average monthly ben-
efit after the suspension (determined tak-
ing into account the individual limita-
tions); and the aggregate present value of
the reduction in benefits for all individu-
als.
(b) A demonstration of the distribution
of the benefit suspension. This demonstra-
tion may be expressed as a count of indi-
viduals whose benefits are not reduced,
and a count of individuals whose benefits
are reduced by a percentage that falls
within a series of ranges that do not ex-
ceed 10 percent. For example, the distri-
bution could show a count of the individ-
uals who have no reduction, a reduction of
10 percent or less, a reduction of 20 per-
cent or less but more than 10 percent, etc.
(2) Except in the case of an application
in connection with a proposed partition of
the plan, if, as described in section 2.02(4)
of this revenue procedure, the proposed
suspension provides for different treat-
ment for different categories or groups
(other than as a result of application of the
individual limitations), the application
must include the following:
(a) The information described in sec-
tion 4.04(1)(a) and (b) of this revenue
July 31, 2017Bulletin No. 2017–31
156

procedure for each such category or
group.
(b) With respect to the demonstration
that the proposed benefit suspension is
distributed in an equitable manner across
the participant and beneficiary population,
the application must identify the factors
(for example, those listed in section
§ 432(e)(9)(D)(vi)(I) through (XI)) that
were taken into account in designing the
proposed suspension.
(c) If none of the factors listed in
§ 432(e)(9)(D)(vi)(I) through (XI) were
taken into account in designing the pro-
posed suspension, then the application
must explain why none of them were
taken into account.
(d) For each factor identified under sec-
tion 4.04(2)(b) of this revenue procedure
that is not one of the factors listed in
§ 432(e)(9)(D)(vi)(I) through (XI), an ex-
planation of why the factor is relevant.
(e) An explanation of how the differ-
ences in treatment under the proposed sus-
pension among the categories or groups
identified result from a reasonable appli-
cation of the relevant factors.
.05Notice. A description of the plan
sponsor’s method for satisfying the notice
requirements under § 432(e)(9)(F) of the
Code, including the following informa-
tion:
(1) A copy of each type of actual no-
tice
5
that has been or will be given to
participants, beneficiaries, employers that
have an obligation to contribute within the
meaning of section 4212(a) of ERISA,
and each employee organization repre-
senting participants under the plan. If in-
dividuals’ notices differ from each other
in any way (other than for individualized
information relating to the estimate of the
effect of the proposed suspension on the
individual’s benefit), then a copy of each
type of notice that has been given or will
be given to an individual must be pro-
vided. For example, a copy of each of the
different notices that have been or are
being provided to individuals described in
paragraphs (a) through (d) of the model
notice in Appendix A must be provided,
even if the plan sponsor uses the model
notice in Appendix A. Similarly, if there
is a different notice for individuals who
have retired on account of disability, a
copy of the actual notice used for that
group of individuals must be provided.
(2) A description of the efforts that are
being made to contact participants, bene-
ficiaries and alternate payees.
(3) A description of the steps the plan
sponsor has taken to ensure that any elec-
tronically delivered notices are reasonably
accessible to the recipients.
(4) A list of:
(a) Each employer that has an obliga-
tion to contribute within the meaning of
section 4212(a) of ERISA, and
(b) Each employee organization repre-
senting participants under the plan.
SECTION 5. PLAN SPONSOR
DETERMINATION RELATING TO
REASONABLE MEASURES TAKEN
TO AVOID INSOLVENCY
With respect to the plan sponsor’s de-
termination required under section 3.03 of
this revenue procedure that the plan is
projected to become insolvent unless ben-
efits are suspended, the application must
include the following information:
.01Measures taken to avoid insol-
vency. A detailed description of measures
taken to avoid insolvency over the past 10
plan years immediately preceding the plan
year in which the application is submitted.
.02Plan factors. In accordance with
§ 432(e)(9)(C)(ii), the following specific
information with respect to the plan:
(1) For the 10 plan years immediately
preceding the plan year in which the ap-
plication is submitted:
(a) Contribution levels.
(b) Levels of benefit accruals, includ-
ing any prior reductions in the rate of
benefit accruals.
(c) Prior reductions, if any, of adjust-
able benefits under § 432(e)(8).
(d) Any prior suspension of benefits
under § 432(e)(9).
(e) Measures undertaken by the plan
sponsor to retain or attract contributing
employers.
(2) The impact on plan solvency of the
subsidies and ancillary benefits, if any,
available to active participants.
(3) Compensation levels of active par-
ticipants relative to employees in the par-
ticipants’ industry generally.
(4) Competitive and other economic
factors facing contributing employers.
.03How plan factors were taken into
account. For each of the factors listed
under section 5.02 of this revenue
procedure and the factors described in
§ 432(e)(9)(C)(ii)(VIII) (the impact of ben-
efit and contribution levels on retaining ac-
tive participants and bargaining groups un-
der the plan) and § 432(e)(9)(C)(ii)(IX) (the
impact of past and anticipated contribution
increases under the plan on employer attri-
tion and retention levels), the application
must describe how that factor was taken into
account (or why that factor was not taken
into account) in the plan sponsor’s determi-
nation that all reasonable measures have
been taken to avoid insolvency.
.04Other factors considered. If the
plan sponsor took into account any other
factors in its determination that all reason-
able measures have been taken to avoid
insolvency, then the application must dis-
cuss why those factors were relevant and
how they were taken into account.
SECTION 6. OTHER REQUIRED
INFORMATION
The application must also include the
following information:
.01Ballot. A proposed ballot in-
tended to satisfy the requirements of
§ 432(e)(9)(H)(iii). However, the proposed
ballot should not include the information
described in § 1.432(e)(9)–1(h)(3)(i)(E), (L)
or (M) (regarding the statement in opposi-
tion to theproposed benefit suspension,
the individualized estimate that was or
will be provided as part of the notice, and
the voting procedures (including the dead-
line for voting)).
.02Partition. Whether the plan spon-
sor is requesting approval from the
Pension Benefit Guaranty Corporation
(PBGC) of a proposed partition of the
plan under section 4233 of ERISA. If the
plan sponsor is requesting approval of a
proposed partition, then the application
for the proposed benefit suspension must
include the proposed effective date of the
partition and a plan-year-by-plan-year
projection of the amount of the reduction
in benefit payments (that is, the guaran-
teed amounts covered by financial assis-
5
The copy of the notice(s) attached to the application must not include personally identifiable information with respect to any individual, such as a name or social security number.
Bulletin No. 2017–31July 31, 2017
157

tance under the successor plan for each
year) attributable to the partition.
.03Actuarial assumptions used for
projections. The application must include:
(1) A description of each of the assump-
tions used in the projections required under
sections 3.01, 3.02, 4.02(1), 4.02(2), and
4.03 of this revenue procedure,
(2) Supporting evidence for the selec-
tion of those assumptions, and
(3) If different assumptions are used
for different purposes within an applica-
tion, an explanation of any differences
among the assumptions used for various
purposes.
A template for providing this informa-
tion is included in Appendix B.
.04Ten-year experience for certain
critical assumptions. With respect to each
of the 10 plan years immediately preced-
ing the plan year in which the application
is submitted, a disclosure that separately
identifies:
(1) Total contributions.
(2) Total contribution base units.
(3) Average contribution rates.
(4) Withdrawal liability payments.
(5) Rate of return on plan assets.
.05Demonstration of sensitivity of pro-
jections. The application must include de-
terministic projections of the sensitivity of
the plan’s solvency ratio throughout the
extended period to certain key assump-
tions. For this purpose, the application
must include the following separate pro-
jections calculated using the same as-
sumptions as those used under section
4.02(1) of this revenue procedure, except
that:
(1) The assumed rate of return is re-
duced by 1 percentage point.
(2) The assumed rate of return is re-
duced by 2 percentage points.
(3) Future contribution base units in-
crease or decrease at a rate equal to the
average annual rate of increase or de-
crease that the plan experienced over the
period of years described in section 6.04
of this revenue procedure.
(4) Future contribution base units in-
crease or decrease at a rate equal to the
rate described in section 6.04(3) of this
revenue procedure reduced by 1 percent-
age point.
The projections described in (3) and
(4) may be made without reflecting any
adjustments to the projected benefit pay-
ments that result from the alternative as-
sumptions regarding future contribution
base units.
.06Projection of funded percentage.
The plan sponsor must include an illustra-
tion, prepared on a deterministic basis, of
the projected value of plan assets, the ac-
crued liability of the plan (calculated us-
ing the unit credit funding method), and
the funded percentage for each year in the
extended period.
.07Plan sponsor certifications relating
to plan amendments. The plan sponsor
must certify that if it receives final authori-
zation to implement the suspension as de-
scribed in § 432(e)(9)(H)(vi) and chooses to
implement the authorized suspension, then,
in addition to the plan amendment imple-
menting the suspension, the following plan
amendments will be timely adopted and not
modified at any time thereafter before the
suspension of benefits expires:
(1) A plan amendment providing that
in accordance with § 432(e)(9)(C)(ii) the
benefit suspension will cease as of the first
day of the first plan year following the
plan year in which the plan sponsor fails
to maintain a written record of its deter-
mination that both:
(a) All reasonable measures to avoid
insolvency continue to be taken during the
period of the benefit suspension.
(b) The plan would not be projected to
avoid insolvency if no suspension of ben-
efits were applied under the plan.
(2) A plan amendment providing that
any future benefit improvements must sat-
isfy the requirements of § 432(e)(9)(E).
.08Whether a plan is described in
§ 432(e)(9)(D)(vii). Whether the plan is a plan
described in § 432(e)(9)(D)(vii) and, if so,
how the provisions of § 432(e)(9)(D)(vii) are
reflected in the proposed benefit suspension.
.09Narrative statement. The plan spon-
sor must include a narrative statement of the
reasons the plan is in critical and declining
status. The narrative statement may also in-
clude any other information that would be
relevant to the application.
SECTION 7. IDENTIFICATION
AND BACKGROUND
INFORMATION ON THE PLAN
The application must include the fol-
lowing identification and background in-
formation:
.01Plan sponsor. Name, contact infor-
mation (for example, address, telephone
number, email address, and fax number)
and employer identification number (EIN)
of the plan sponsor.
.02Plan identification. The plan’s
name, EIN (if different from the plan
sponsor’s EIN), and plan number.
.03Retiree representative. Name and
contact information of the plan’s retiree
representative (if any) described in
§ 432(e)(9)(B)(v).
.04Plan’s enrolled actuary. Name, en-
rollment number, and contact information
of the plan’s enrolled actuary within the
meaning of § 7701(a)(35).
.05Power of Attorney. A designation
of power of attorney for each authorized
representative who will represent the plan
sponsor in connection with the applica-
tion. See Appendix C.
.06Plan documents. With respect to
the plan document, the most recent plan
document, including all amendments ad-
opted since the last restatement
6
as well as
the following documents related to that
plan document:
(1) The most recent summary plan de-
scription as defined under section 102 of
ERISA and any subsequent summaries of
material modification.
(2) The most recent determination let-
ter issued to the plan.
.07Collective bargaining and side
agreements. Excerpts from collective bar-
gaining agreements and side agreements
(such as participation agreements or reci-
procity agreements) pursuant to which the
plan is maintained. The plan sponsor
should not submit an entire collective bar-
gaining or side agreement. The required
excerpts are:
(1) Language from any portion of a
collective bargaining agreement that is
6
Submission of the plan document and amendments to the Treasury Department as part of the application for approval of a proposed suspension under this revenue procedure will not be
treated as a request to the IRS for a favorable determination on the qualified status of the plan under § 401 or the exempt status of the related trust under§ 501(a). For procedures governing
an application to the IRS for a favorable determination under §§ 401 and 501(a), see Rev. Proc. 2017– 4, 2017–1 I.R.B. 146, and Rev. Proc. 2016 –37, 2016 –29 I.R.B. 136, as modified.
July 31, 2017Bulletin No. 2017–31
158

relevant to the plan or the proposed sus-
pension.
(2) Language from any portion of a
side agreement that is relevant to the plan
or the proposed suspension.
.08Annual return. Excerpts from the
most recently filed Form 5500, Annual
Return/Report of Employee Benefit Plan.
The required excerpts are:
(1) Pages 1 and 2 of the Form 5500,
without attachments or schedules.
(2) The Schedule MB, including at-
tachments.
(3) The Schedule R, including attach-
ments.
(4) The accountant’s report under sec-
tion 103(a)(3) of ERISA.
.09Rehabilitation plan. The rehabilita-
tion plan described in § 432(e)(3) as most
recently updated. If the rehabilitation plan
includes more than one contribution or
benefit schedule, then the application must
specify the extent to which each schedule
applies (either pursuant to collective bar-
gaining or, with respect to the designated
default schedule, as imposed on an em-
ployer), expressed as a percentage of the
total contributions for the most recent year
for which the information is available.
.10Valuation reports. The two most
recent actuarial valuation reports for the
plan.
.11Completed checklist. A completed
checklist of information required to be
included in the application. See Appendix
D. The completed checklist must be
signed and dated by an authorized trustee
who is a current member of the board of
trustees.
SECTION 8. RESUBMISSION
REVIEW
If the Treasury Department has indi-
cated that an application for a proposed
suspension is a candidate for resubmission
review pursuant to § 1.432(e)(9)–1(g)(3),
and the application is being submitted for
resubmission review, then the application
must include:
.01 All of the information required un-
der this revenue procedure for an original
application, except that, with respect to
information that has not changed, the ap-
plication should cross-reference that in-
formation in the prior application rather
than provide the information again.
.02 A statement that the application is
being submitted for resubmission review
and the date on which the Treasury De-
partment indicated that the application is a
candidate for resubmission review.
SECTION 9. EFFECT ON OTHER
REVENUE PROCEDURES
Rev. Proc. 2016 –27 is modified and
superseded.
SECTION 10. PAPERWORK
REDUCTION ACT
The collections of information con-
tained in this revenue procedure have
been approved by the Office of Manage-
ment and Budget in accordance with the
Paperwork Reduction Act of 1995 (44
U.S.C. 3507 (c)) under control number
1545-2260.
An agency may not conduct or spon-
sor, and a person is not required to re-
spond to, a collection of information un-
less the collection of information displays
a valid OMB control number.
The collections of information in this
revenue procedure appear in Appendix C
(sample Power of Attorney form) and Ap-
pendix D (checklist for completeness of
the application). Burden estimates with
respect to information described in sec-
tions 2, 3, 4, 5, 6 and 7 of this revenue
procedure are reported in the preamble to
the notice of proposed rulemaking (REG–
102648 –15) published on June 19, 2015,
in the Federal Register (80 FR 35262)
pursuant to which § 1.432(e)(9)–1 was
issued.
We estimate the total number of re-
spondents to be 10.
We estimate it will take 2 hours to
comply. The estimated total annual and/or
recordkeeping burden is 20 hours.
Estimates of the annualized cost to re-
spondents for the hour burdens shown are
not available at this time.
CONTACT INFORMATION
For general information regarding this
revenue procedure, please contact the
Treasury Department MPRA guidance in-
formation line at (202) 622-1559 (not a
toll-free number). For information regard-
ing a specific application for benefit sus-
pension, please contact the Treasury De-
partment at (202) 622-1534 (not a toll-free
number).
Bulletin No. 2017–31July 31, 2017
159

APPENDIX A
MODEL NOTICE OF APPLICATION FOR APPROVAL OF A PROPOSED REDUCTION OF BENEFITS
[This is a model notice that can be used to satisfy the requirements of § 432(e)(9)(F) and the related regulations. The notice, including any
inserts and additional material, must be written in a manner so as to be understood by the average plan participant.]
[If the plan sponsor applies for a partition of the Plan under section 4322 of ERISA, then this notice can be combined with the notice
required under section 4322 assuming all other requirements, such as the timing of providing each notice, are satisfied.]
NOTICE OF A PROPOSED REDUCTION OF YOUR PENSION BENEFITS
On[insert date], the Board of Trustees of the[insert Plan name](“Plan”)[insert submitted/will submit]an application to the U.S.
Treasury Department for approval to reduce benefits under the Plan. This type of benefit reduction is allowed by the Federal law
called the Multiemployer Pension Reform Act of 2014.
You are getting this notice because you have a pension benefit under the Plan.The end of this notice describes the proposed
reduction of your monthly payments.
7
This notice will also answer the following questions for you—
1. Why is the Board of Trustees proposing to reduce benefits?
2. What will happen if the Plan runs out of money?
3. How did the Board of Trustees decide whose benefits to reduce and by how much?
4. What are the proposed reductions in benefits?
5. What comes next?
1. Why is the Board of Trustees proposing to reduce benefits?
The Plan’s actuary estimated that, unless benefits are reduced, the Plan will not have enough money to pay benefits in the year [insert
year]. This estimate is based on how much money the actuary expects the Plan to receive and to pay out each year. The Plan’s actuary
estimated that, with the reduction of benefits that the Board of Trustees has proposed, the plan should not run out of money.
2. What will happen if the Plan runs out of money?
If the Plan does not have enough money to pay benefits, then only the amount guaranteed by the Pension Benefit Guaranty
Corporation (“PBGC”) will be paid. You can find the amount of your benefit that is guaranteed by PBGC at the end of this notice.
3. How did the Board of Trustees decide whose benefits to reduce and by how much?
Under Federal law, the Board of Trustees must apply the following rules to the proposed reduction—
•The total reduction in everybody’s benefits must be estimated to be large enough to keep the plan from running out of money but not
larger than needed to do that.
•Your monthly benefit and the benefit of your beneficiary cannot be reduced below 110% of the amount guaranteed by PBGC.
•Disability benefits (as defined under the Plan) cannot be reduced.
•The benefits of people who are at least 80 years old on [insert date that is the last day of the month during which the suspension is
proposed to take effect] and their beneficiaries cannot be reduced.
•The benefits of people who are at least 75 years old on [insert date that is the last day of the month during which the suspension is
proposed to take effect] and their beneficiaries are partially protected, and the closer the person is to age 80 the less the benefits can
be reduced.
•The reduction of benefits must be spread fairly among the people who have a pension benefit under the plan.
In deciding whether the proposed reduction is spread fairly, the Board of Trustees took into account the following:[List the factors
the Board of Trustees took into account in designing the proposed suspension of benefits. This list may include (but is not limited
to) factors found in § 432(e)(9)(D)(vi).]
4. What are the proposed reductions in benefits?
The Board of Trustees proposes the following reduction of benefits:[Describe the proposed suspension of benefits and its effect.
Describe each category or group of individuals for which the proposed suspension provides for different treatment (other than as
a result of application of the individual limitations) and how those categories or groups are defined; describe the formula used to
determine how the amount of the proposed suspension is determined for individuals in each category or group; specify whether the
7
A version of this notice that does not include the estimate of the effect on your benefit is being sent to unions that represent Plan participants and to all contributing employers.
July 31, 2017Bulletin No. 2017–31
160

proposed suspension will remain in effect indefinitely or will expire by its own terms (and if so, when it will expire); describe any
proposed phase-in of the suspension; and describe the effect of the proposed suspension on the plan’s projected insolvency.]
5. What comes next?
Approval or denial of the application by the Treasury Department
The Treasury Department will review the application to see whether it meets all of the legal requirements under Federal law. If the
application meets all of those requirements, the Treasury Department is required to approve the application. If the application does
not meet the legal requirements, the Treasury Department will deny the application. The Treasury Department will have until[insert
date 225 days after the complete application is submitted]to make a decision.
You can get information from the Treasury Department
More information about the proposed benefit reductions and a copy of the application will be available atwww.treasury.gov/mpra.
The application will be available on that website within 30 days after the Treasury Department receives it. The application
includes more information about theproposed reduction, including details about: 1) the Plan actuary’s certification that the Plan will run
out of money (that is, that the plan is in “critical and declining status”); 2) how the proposed reduction would satisfy the requirement that
it be large enough so that the Plan is estimated not to run out of money, while not being larger than needed; and 3) the sensitivity of these
estimates to the assumptions used.
The application describes the steps the Board of Trustees has already taken to keep the Plan from running out of money and why
the Board of Trustees believes that a benefit reduction is the only remaining option to keep the plan from running out of money. In
addition, the application explains why the Board of Trustees believes that the proposed reduction is spread fairly among the people
who have a pension benefit under the plan.
The Treasury Department website will also provide updated information on the application, such as whether the application has
been withdrawn.
For further information and assistance you can also write to the Treasury Department at the following address:
Department of the Treasury
Attn: MPRA Office, Room 1204
1500 Pennsylvania Avenue, NW
Washington, DC 20220
You can comment on the application to reduce benefits
You will be able to submit a comment on the application by going towww.treasury.gov/mpra. Comments may also be mailed to the
Treasury Department, at the address listed above. All interested parties can make comments, and the comments will be publicly
available.
Retiree Representative
If a plan has 10,000 or more participants, the Board of Trustees must select a retiree representative to advocate for the interests of retirees,
beneficiaries, and deferred vested participants as part of this process. A plan is required to pay the reasonable expenses of the retiree
representative.
[If the selection of the retiree representative was required under § 432(e)(9)(B)(v)(I), insert the following]
On[insert date],the Board of Trustees selected[insert name]to be the retiree representative.[He/She]is a retiree currently receiving
benefits under the Plan and[is also/is not]a member of the Board of Trustees. Participants and beneficiaries may contact[insert
name of retiree representative]at[insert phone number, address, and e-mail address].
[If the Board of Trustees has selected a retiree representative under § 432(e)(9)(B)(v)(I), even though it was not required, insert
the following]
Even though the Plan has fewer than 10,000 participants, the Board of Trustees selected[insert name]to be the retiree representative
on[insert date].[He/She]is a retiree currently receiving benefits under the Plan and[is also/is not]a member of the Board of
Trustees. Participants and beneficiaries may contact[insert name of retiree representative]at[insert phone number, address, and
e-mail address].
Bulletin No. 2017–31July 31, 2017
161

[If the Board of Trustees has not selected a retiree representative, insert the following]
The Board of Trustees is not required to select a retiree representative, because the Plan has fewer than 10,000 participants. The
Board of Trustees has not chosen to select a retiree representative.
Vote on the proposed benefit reduction
If the application for the proposed reduction of benefits is approved by the Treasury Department, then you will have the opportunity
to vote on the proposed reduction. Unless a majority of all participants and beneficiaries of the Plan vote to reject the reduction, the
Treasury Department must allow the reduction of benefits to take effect. This means that not voting counts the same as a vote to
approve the reduction.
[If the Board of Trustees believes that PBGC will or may determine that the Plan is a systemically important plan (a plan with a
present value of projected PBGC financial assistance payments that exceeds $1 billion, as indexed for inflation), insert the following
two paragraphs]
Even if a majority votes to reject the proposed reduction of benefits, Federal law requires the Treasury Department to allow the
proposed benefit reduction (or a modified version) to take effect if the cost to PBGC to provide guaranteed benefits is particularly
large. This rule applies if the value of payments from PBGC if the plan runs out of money is expected to be more than[insert
threshold most recently published under § 432(e)(9)(H)(v)(III)(bb))]. Before the Treasury Department permits a reduction in this
circumstance, PBGC’s Participant and Plan Sponsor Advocate may recommend possible modifications to the proposed reduction.
You may contact PBGC’s Participant and Plan Sponsor Advocate regarding such a modification by mail at Pension Benefit
Guaranty Corporation, Attn: Participant and Plan Sponsor Advocate, 1200 K St., NW, Washington DC 20005; by telephone at (202)
326-4448; or by e-mail at advocate@PBGC.gov.
Your right to see Plan documents
You may want to review Plan documents to help you understand your rights and the proposed reduction to your benefits. The Plan
administrator must respond to your request for the following documents within 30 days:
•The Plan document (including any amendments adopted to reflect an authorized reduction of benefits), trust agreement, and other
documents governing the Plan (such as collective bargaining agreements).
•The Plan’s most recent summary plan description (SPD or plan brochure) and any summary of material modifications.
•The Plan’s Form 5500 annual reports, including the accountant’s report and audited financial statements, filed with the U.S.
Department of Labor during the last six years.
•The annual funding notices furnished by the Plan during the last six years.
•Actuarial reports, including reports prepared in anticipation of the benefit reduction, furnished to the Plan within the last six years.
•The Plan’s current rehabilitation plan, including contribution schedules, and, if the proposed benefit reduction goes into effect, annual
plan-sponsor determinations that all reasonable measures to avoid running out of money continue to be taken and that the Plan would
run out of money if there were no benefit reductions.
•Any quarterly, semi-annual, or annual financial reports prepared for the Plan by an investment manager, fiduciary, or other advisor
and furnished to the Plan within the last six years.
The Plan administrator may charge you the cost per page to the Plan for the cheapest way of copying documents, but cannot charge
more than 25 cents per page. The Plan’s Form 5500 Annual Return/Report of Employee Benefit Plan is also available free of charge
atwww.dol.gov/ebsa/5500main.html. Some of the documents also may be available for examination, without charge, at the Plan
administrator’s office, your worksite or union hall.
Your right to challenge incorrect calculations
If you think the Plan miscalculated the reduction to your benefits, then you have the right to submit a claim to the Plan to have the
calculation corrected. The Plan’s SPD tells you how to submit a claim. The SPD also describes your right to have a court review
the Plan’s final decision on your claim.
If you believe the information used to calculate your estimate at the end of this notice is wrong, please contact the Plan office at
[insert phone number, address, and e-mail address].
[The following may be on a separate page at the end of the notice.]
HOW YOUR MONTHLY PAYMENTS WILL BE AFFECTED
[Provide this estimate to the affected individual]
This estimate of the effect of the proposed reduction of benefits has been prepared for:
July 31, 2017Bulletin No. 2017–31
162

[Affected Individual’s Name]
[Address]
[Town, State, Zip]
[Choose (a), (b), (c) or (d), as appropriate for an affected individual. Affected individuals include a participant (including a retiree),
a beneficiary of a deceased participant, or an alternate payee. If (a), (b) or (c) is chosen, then insert a narrative description of the
effect of the suspension if it is not possible to estimate its effect quantitatively (on an annual or monthly basis), such as in the case
of a suspension that affects the payment of any future cost of living adjustment.]
[(a) For an affected individual who is in pay status and who has a proposed suspension]
Your current monthly benefit is[insert current monthly benefit].Under the proposed reduction your monthly benefit will be reduced
to[insert monthly benefit reflecting proposed suspension] beginning on[insert effective date of the proposed suspension].
[(b) For an affected individual who has a proposed suspension, is not yet in pay status, and is below the participant’s normal
retirement age]
If you start receiving your benefit on[insert participant’s normal retirement date]in the form of a[insert normal form of benefit],
your monthly benefit without the proposed reduction would be[insert monthly benefits earned as of proposed effective date of
suspension].Under the proposed reduction your monthly benefit in the same form would be reduced to[insert monthly benefit
reflecting proposed suspension].
8
[(c) For an affected individual who has a proposed suspension, is not yet in pay status, and is above the participant’s normal
retirement age]
Your benefit without the proposed reduction as of[insert date]in the form of a[insert normal form of benefit]is[insert monthly
benefit as of proposed effective date of suspension].Under the proposed reduction your monthly benefit in the same form will be
reduced to[insert monthly benefit reflecting proposed suspension].
9
[(d) For an affected individual whose benefits are not proposed to be suspended]
Your monthly benefit would not change under the proposed reduction.
[If the proposed suspension is permanent, insert the following for all affected individuals who have a benefit suspension]
The proposed reduction is permanent.
[If the proposed suspension is temporary, insert the following for all affected individuals who have a benefit suspension]
The proposed reduction in your payments will last until[insert date]. Under the proposed reduction, after that date your monthly
benefit will increase to the unreduced amount.
[The following text is for all individuals.]
This is an estimate of the effect of the proposed reduction on your benefit under the Plan. It is not a final benefit calculation. This
estimate was prepared assuming that the proposed benefit reduction starts on[insert proposed effective date].[Include the following
sentence only for individuals whose benefits are proposed to be suspended.]If the benefit reduction starts later, the effect of the
proposed reduction on your benefit might be different.
This estimate is based on the following information from Plan records:
•You have[insert total years and months of credited service or total years and months of credited service as of the service calculation
date, as applicable]of credited service under the Plan.
•You will be[insert age in years and months]as of[insert last day of the month of that includes the effective date of proposed
suspension].
•The portion of your benefit that is based on disability is[insert amount].
[Add additional bullets for other data that is used to estimate the effect of proposed suspension on the individual’s benefit.]
PBGC Guaranteed Benefits
If the Plan does not have enough money to pay benefits, your monthly benefit would be no larger than the amount guaranteed by
PBGC. The amount of your monthly benefit guaranteed by PBGC is estimated to be[insert dollar amount].
8
These numbers are just estimates. The actual amount you receive will depend on things like how long you work and when you begin receiving payments. For more information, see [insert
cross-reference].
9
These amounts will be different if you take your benefit in a different form. For example, if you elect [insert other form of benefit available under the plan], your reduced monthly benefit
will be [insert monthly benefit reflecting proposed suspension].
Bulletin No. 2017–31July 31, 2017
163

APPENDIX B
INFORMATION ON ACTUARIAL ASSUMPTIONS AND METHODS
This Appendix B details the information on actuarial assumptions and methods that, pursuant to section 6.03 of this revenue
procedure, must be described in an application for approval of a proposed benefit suspension. Part 1 of this Appendix B identifies
specific actuarial assumptions that must be described. Any other assumptions used in the cash flow projections included in the
application (such as the take-up rate among multiple benefit/contribution schedules within the rehabilitation plan and the assumed
age of contingent annuitants for future retirees) must also be described. Part 2 of this Appendix B specifies the supporting information
that must be provided with respect to certain of the actuarial assumptions. Part 3 of this Appendix B describes an explanation that
must be provided for certain specific differences in certain assumptions.
Part 1 - Actuarial assumptions and methods used for projections.
Applicants must provide the following information regarding the actuarial assumptions listed below. If an assumption varies based
on a factor that is relevant for projecting cash flows, such as gender or benefit schedule, provide a separate specification of that
assumption for each category of participants for which the assumption is different. If an assumption varies over time, specify the time
frame applicable to such assumption. If an assumption differs on account of the suspension, provide such assumption both
disregarding the suspension and taking the suspension into account.
Investment returns
•Net investment return for deterministic projections.
•Assumptions used for stochastic projections (if applicable). Provide the expected geometric returns, arithmetic returns, and standard
deviation of returns for each asset class in which the plan is invested (or is expected to be invested), including the probability
distribution of returns (e.g., normal or log-normal) along with any correlations used in the projections, including correlations among
asset returns (and serial correlations, if any).
Mortality assumptions
•The base mortality rates and the calendar year for which those base mortality rates apply.
•If a standard table is used, provide the name of the standard table.
•If an adjustment to a standard table is used, describe the adjustment.
•The mortality improvement scale.
Other demographic assumptions
•Complete decrement tables for each demographic assumption.
•If a standard table is used, provide the name of the table.
Assumptions regarding form and commencement age of benefits
•Assumptions regarding the probability that future retirees will elect each optional form of benefit.
•Assumptions regarding the probability of benefit commencement by age for participants who have terminated with deferred benefits
or who are assumed to terminate with deferred benefits in the future.
•Assumptions regarding the probability of benefit commencement by age for participants who have become disabled or who are
assumed to become disabled in the future.
Assumptions regarding missing or incomplete data
•Assumption regarding terminated vested participants beyond normal retirement age who, because they have not commenced receiving
benefit payments, could be considered to be missing.
•Assumptions to fill in other missing data.
New entrant profile
•A description of the new entrant profile, including the weights applicable to each assumed age of entry.
Contribution rates
•A description of the assumed contribution rates (expressed in contribution base units) for each year during the projection period.
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164

Contribution base units
•A description of the assumed contribution base units for each year during the projection period.
•Assumption regarding number of contribution base units associated with each active participant.
Withdrawal liability payments
•A description of the assumed rate of future employer withdrawal liability payments, including:
XAny adjustment to payments currently scheduled for already withdrawn employers to reflect the probability of non-payment of
those amounts prior to the end of the payment period (for example, due to bankruptcy of the employer).
XAssumptions for withdrawal liability payments related to future employer withdrawals, if any.
Administrative expenses
•The assumed expenses charged to the plan other than investment-related expenses.
Projection methodology
•A description of any approximation or data grouping techniques that were used.
•A description of any changes to the cash flow projections that would normally be provided by the actuarial software, including both
changes to the programming that affect the results generated by the software and modifications to the results generated by the software.
Part 2 - Supporting documentation for selection of certain assumptions.
Applicants must provide the following supporting documentation for the selection of certain assumptions. In addition, if any of
those assumptions were selected based on other relevant data, applicants must provide that data.
Investment Returns
•Provide the components of the target portfolio used in the projections, expressed in terms of the asset classes used for setting the plan’s
investment policy.
•Allocate the components of the target portfolio among the asset classes listed below. If the target portfolio includes an asset class not
included in the list, identify that asset class and its portfolio weight, and include that asset class in the asset class listed below that it
most closely resembles in terms of the expected net return, standard deviation, and correlations.
XThe asset classes are:
US Equity—Large Cap
US Equity—Small/Mid Cap
Non-US Equity—Developed
Non-US Equity—Emerging
US Corporate Bonds—Core
US Corporate Bonds—Long Duration
US Corporate Bonds—High Yield
Non-US Debt—Developed
Non-US Debt—Emerging
US Treasuries (Cash Equivalents)
TIPS (Inflation-Protected)
Real Estate
Hedge Funds
Commodities
Infrastructure
Private Equity
•If the mix of assets for the target portfolio differs from the current mix of assets, identify the extent of the difference and explain
the reason for the difference.
•If the mix of assets is expected to vary over time, explain how and why the mix of assets is expected to vary.
•If the net investment return assumptions used for the deterministic projections are based on the expected returns for the various
asset classes, provide:
XThe expected geometric and arithmetic return, net of fees, for each asset class;
XThe standard deviation of returns for each asset class;
XThe correlations for the returns among the asset classes; and
XTo the extent that the net investment return assumptions for the asset classes vary over time but the investment return assumptions
used for the deterministic projections do not, a description of how the investment return assumptions used for the deterministic
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165

projections take into account the assumed amount of plan assets (which reflect prior negative or positive assumed cash flows) over
time.
•Provide the inflation rate or rates inherent in the net investment returns.
•Provide the investment-related expense inherent in the net investment return for the target portfolio, expressed as a percentage
of that portfolio.
Demographic experience
•Provide any study of the plan’s demographic experience performed over the last ten years.
•Provide any liability gain or loss analysis performed over the last ten years. If the gain or loss analysis is by source, provide the results
by source.
•Provide the percentage of the plan population that is married.
•Provide the distribution of each optional form of benefit selected at retirement for the last five years.
•Provide the retirement rates by age for benefit commencements during the last 5 years, separately for active and terminated vested
participants.
Mortality assumptions
•Identify the experience study that underlies the mortality rates along with information and analysis as to why that mortality experience
is representative of the expected mortality experience for the participants in the plan. For this purpose:
XIf the mortality rates are based on a published experience study, provide a citation to the study. If the mortality rates are based
on an unpublished experience study, provide a copy of the study.
XIf a plan’s participants consist primarily of blue-collar participants, the experience study used in developing the blue-collar
mortality rates in the RP-2014 Mortality Tables Report issued by the Society of Actuaries (available at https://www.soa.org/
Research/Experience-Study/pension/research-2014-rp.aspx) may be treated as representative of the expected mortality experience
for the plan.
XFor all other plans, the mortality experience used in developing the total data set mortality rates in the RP-2014 Mortality Tables
Report may be treated as representative of the expected mortality experience for the participants in the plan.
•Describe the process that was used to construct the mortality rates based on that experience study data and the rationale for
selecting that process.
XIf either the blue-collar mortality rates or the total data set mortality rates in the RP-2014 Mortality Tables Report are used, this
process can be described by cross-reference to the RP-2014 Mortality Tables Report.
XIf the mortality table constructed from the experience study differs from the published mortality table constructed from the
experience study, provide information and analysis as to the process used to construct the mortality table and why the mortality
table used is more appropriate for the plan than the published mortality table. For example, if the mortality table was determined
by applying the MP-2016 mortality improvement rates to the experience study data (rather than the MP-2014 mortality
improvement rates), explain why that was done.
•If a plan uses an adjustment to a published mortality table, identify that adjustment, and provide information and analysis for the
conclusion that the plan has sufficient mortality experience such that the results of an experience study (or gain and loss analysis)
for the plan are fully or partially credible. For example, for each of the last three to five completed plan years, provide, for
non-disabled retirees only, the amount-weighted mortality rates at each age from 50 to 110. These amount-weighted mortality
rates are determined using a numerator equal to the total pension amounts (annualized at the beginning of the year) for those at
each attained age who died during the year and a denominator equal to the total pension amounts (annualized at the beginning
of the year) paid at each attained age.
•If a plan does not apply the mortality improvement scale from either of the two most recently published Society of Actuaries
Mortality Improvement Reports to the mortality rates determined using the experience study, then provide information and
analysis for the conclusions that:
XThe mortality improvement experience for the plan participants did not match mortality improvement experience in the United
States for the years since the central date of the experience study period through the year of the most recent actuarial valuation,
as smoothed and projected using the techniques described in either of those reports;
XThe mortality improvement scale applied for those past years is based on a study of mortality improvement with respect to a
population that is both representative of the expected mortality experience for the plan and large enough to have credible results;
and
XThe expectation for future mortality improvement for the plan participants is not the same as the expectation for future mortality
improvement in the United States, as projected using the techniques described in either of those reports.
New entrant profile
•Provide information and analysis used in the selection of the new entrant profile, including:
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XA distribution of ages of all new entrants (whether active or terminated) for each of last five years in accordance with the chart below.
Age Range
Percentage of
New Entrants
XBelow 20
X20–24
X25–29
X30–34
X35–39
X40–44
X45–49
X50–54
X55–59
X60 and over
XA description of the extent to which a material proportion of the new entrants over the last five years have had prior vesting service
or benefit service.
Contribution base units and employer withdrawals
•For each of the last 10 years (or for each year starting with the 2009 plan year, if fewer), provide a table of employers that contributed
5% or more of the annual contributions to the plan that includes, for each such employer:
Xthe number of contribution base units;
Xthe average contribution rate; and
Xthe total contribution.
•Explain the historical trends experienced by the plan with respect to contribution base units and contribution rates.
•Explain the rationale for the assumptions for contribution base units (including an explanation of the consistency between these
assumptions and the assumed rate of future employer withdrawals).
•Explain the rationale for the assumptions for contribution rates.
•Describe the plan’s experience with employer withdrawals that occurred during the last 5 years, including an indication of the
proportion of required withdrawal liability payments that have been made in full and the proportion of required withdrawal
liability payments that have not been made in full (for example, due to employer bankruptcies).
Take-up rate with respect to selection of benefit/contribution schedules
•Describe the plan’s experience for take-up of each benefit/contribution schedule made available to bargaining units under the
rehabilitation plan.
Projection methodology
•Provide information and analysis to support any approximation techniques that were used.
•Provide information and analysis to support any changes to the cash flow projections that would normally be generated by the actuarial
software, including both changes to the programming that affect the results generated by the software and modifications to the results
generated by the software.
Part 3 - Additional disclosures relating to use of different assumptions
Applicants must explain any differences in the actuarial assumptions used for the various illustrations and projections under this
revenue procedure. For example:
•Deterministic projections. If any actuarial assumptions used for the deterministic projections under section 4.02(1) of this revenue
procedure differ from those used under section 3.01 of this revenue procedure, provide the information and analysis that supports the
selection of the different assumptions.
•Stochastic projections. If any actuarial assumptions used for stochastic projections described in section 4.02(2) of this revenue
procedure differ from those used for deterministic projections described in section 4.02(1) of this revenue procedure, provide the
information and analysis that supports the selection of the different assumptions.
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APPENDIX C
POWER OF ATTORNEY AND DECLARATION OF REPRESENTATIVE BEFORE THE DEPARTMENT OF THE
TREASURY
Applicant information: [Include name of plan sponsor, name of plan, address, plan number, employer identification
number, name of contact, title of contact, telephone number, email address, and fax number]
Applicant hereby appoints the following representative(s) as attorney(s)-in-fact to represent the taxpayer before the Department of
the Treasury and perform acts related to the attached application dated ______________ for suspension of benefits under § 432(e)(9)
of the Internal Revenue Code of 1986, as amended.
Representative information: [Include name, address, employer identification number, telephone number, email address,
and fax number]
Send copies of notices and communications to representative: [Answer yes or no]
With the exception of the acts described below, I authorize my representative(s) to receive and inspect information, including
confidential tax information, and to perform acts that I can perform with respect to the attached application dated ______________
for suspension of benefits under § 432(e)(9). For example, my representative(s) shall have the authority to sign any agreements,
consents, or similar documents.
Specific acts not authorized: [If the representative is not authorized to perform any act described above, describe the act that the
representative is not authorized to perform.]
Signature of Applicant and Date
This power of attorney must be signed and dated by an authorized trustee who is a current member of the board of trustees.
Declaration of Representative
Under penalties of perjury, by my signature below I declare that:
XI am not currently suspended or disbarred from practice before the Internal Revenue Service;
XI am authorized to represent the Applicant for the matter(s) specified in this Power of Attorney and Declaration of Representative;
and
XI am one of the following:
a. Attorney—a member in good standing of the bar of the highest court of the jurisdiction shown below.
b. Certified Public Accountant— duly qualified to practice as a certified public accountant in the jurisdiction shown below.
c. Enrolled Agent.
d. Officer—a bona fide officer of the Applicant.
e. Full-Time Employee—a full-time employee of the Applicant.
f. Enrolled Actuary— enrolled as an actuary by the Joint Board for the Enrollment of Actuaries under 29 U.S.C. 1242 (the authority
to practice before the Internal Revenue Service is limited by section 10.3(d) of Circular 230).
g. Enrolled Retirement Plan Agent.
Required information for Representative: [Include the appropriate designation of a through g above. In addition, an officer or
full-time employee of the Applicant must include the title or position with the Applicant, and other Representatives must include the
licensing jurisdiction if applicable, and the bar, license, certification, registration, or enrollment number as applicable.]
Signature of Representative and date:
July 31, 2017Bulletin No. 2017–31
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APPENDIX D
CHECKLIST - IS THE SUBMISSION COMPLETE?
Instructions.The application must include a completed checklist placed on top of the application. This will help ensure that the
application is complete. Answer each question in the checklist by circling Y for yes, N for no or N/A for not applicable, as
appropriate, in the blank next to the item. Also insert in the appropriate blank next to each item the page number or numbers where
the item appears in the application.
APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR [INSERT NAME OF PLAN]
Response
Item
numberDescription of item
Page number
in application
Yes No N/A1.Does the application include an original signature of the plan sponsor or an
authorized representative of the plan sponsor? See section 2.01 of this revenue
procedure.
Yes No N/A2.Does the application include a description of the proposed benefit suspension -
calculated as if no other limitations apply - that includes:
•the suspension’s effective date (and its expiration date, if applicable),
•whether the suspension provides for different treatment of participants and
beneficiaries,
•a description of the different categories or groups of individuals affected,
and
•how the suspension affects these individuals differently?
See section 2.02 of this revenue procedure.
Yes No N/A3.Does the application include a penalties-of-perjury statement signed by an
authorized trustee on behalf of the board of trustees? See Section 2.03 of this
revenue procedure.
Yes No N/A4.Does the application include a statement, signed by an authorized trustee on
behalf of the board of trustees, acknowledging that the application and the
application’s supporting material will be publicly disclosed on the Treasury
Department’s website? See section 2.04 of this revenue procedure.
Yes No N/A5.Does the application include the plan actuary’s certification of critical and
declining status and the supporting illustrations, including:
•the plan-year-by-plan-year projections demonstrating projected insolvency
during the relevant period, and
•separately identifying the available resources (and the market value of
assets and changes in cash flow) during each of those years?
See section 3.01 of this revenue procedure.
Yes No N/A6.Does the application include the plan actuary’s certification that, taking into
account the proposed suspension and, if applicable, a proposed partition, the
plan is projected to avoid insolvency if the suspension takes effect, and the
supporting illustrations, including:
•the plan-year-by-plan-year projections demonstrating projected solvency
during the relevant period,
•separately identifying the available resources (and the market value of
assets and changes in cash flow) during each of those years?
See section 3.02 of this revenue procedure.
Yes No N/A7.Does the application include the plan sponsor’s determination of projected
insolvency that includes the documentation set forth in section 5 of the revenue
procedure? See section 3.03 of this revenue procedure.
Bulletin No. 2017–31July 31, 2017
169

Response
Item
numberDescription of item
Page number
in application
Yes No N/A8Does the application include a demonstration that the limitations on individual
suspensions are satisfied, including a description of each benefit based on
disability, as defined under the plan, that is paid to an individual under the plan
(without regard to whether the disability benefits are available to newly disabled
participants) and calculations regarding:
•the guarantee-based limitation,
•the disability-based limitation,
•the age-based limitation, taking into account the guarantee-based limitation,
and
•if applicable, the age-based limitation taking into account both the
guarantee-based limitation and the disability-based limitation?
See section 4.01 of this revenue procedure.
Yes No N/A9.Does the application include a demonstration that the proposed suspension is
reasonably estimated to achieve the level necessary to avoid insolvency for the
extended period, including illustrations regarding the plan’s solvency ratio and
available resources? See section 4.02(1) of this revenue procedure.
Yes No N/A10.Does the application include an illustration that the proposed suspension is
reasonably estimated to achieve the level necessary to avoid insolvency for the
extended period utilizing stochastic projections? (This illustration is optional if
the plan is not required to appoint a retiree representative under
§ 432(e)(9)(B)(v)(I).) See section 4.02(2) of this revenue procedure.
Yes No N/A11.Does the application include a demonstration that the proposed suspension is
not projected to materially exceed the level necessary to avoid insolvency,
including:
•the plan-year-by-plan-year projections demonstrating projected insolvency
during the relevant period, and
•a separate identification of the available resources (and the market value of
assets and changes in cash flow) during each of those years?
See section 4.03 of this revenue procedure.
Yes No N/A12.Does the application include a demonstration that the proposed suspension is
equitably distributed, including:
•information on the effect of the suspension on the plan in the aggregate,
•information on the effect of the suspension for different categories or
groups,
•a list of the factors taken into account,
•an explanation of why none of the factors listed in § 432(e)(9)(D)(vi) were
taken into account (if applicable),
•for each factor taken into account that is not one of the factors listed in
§ 432(e)(9)(D)(vi), an explanation why the factor is relevant, and
•an explanation of how any difference in treatment among categories or
groups of individuals results from a reasonable application of the relevant
factors?
See section 4.04 of this revenue procedure.
Yes No N/A13.Does the application include a copy of the notices (excluding personally
identifiable information) that meet the requirements under § 432(e)(9)(F)? See
section 4.05(1) of this revenue procedure.
July 31, 2017Bulletin No. 2017–31
170

Response
Item
numberDescription of item
Page number
in application
Yes No N/A14.Does the application include a description of the efforts that are being taken to
contact participants, beneficiaries in pay status, and alternate payees? See
section 4.05(2) of this revenue procedure.
Yes No N/A15.Does the application describe the steps the plan sponsor has taken to ensure that
notices delivered electronically are reasonably accessible to the recipients? See
section 4.05(3) of this revenue procedure.
Yes No N/A16.Does the application include a list of each employer who has an obligation to
contribute under the plan and each employee organization representing
participants under the plan? See section 4.05(4) of this revenue procedure.
Yes No N/A17.Does the application include information on past and current measures taken to
avoid insolvency? See section 5.01 of this revenue procedure.
Yes No N/A18.Does the application include information regarding the plan factors described in
§ 432(e)(9)(C)(ii), for the past 10 plan years immediately preceding the plan
year in which the application is submitted? See section 5.02 of this revenue
procedure.
Yes No N/A19.Does the application describe how the plan sponsor took into account – or did
not take into account – the factors listed in section 5.02 of this revenue
procedure in the determination that all reasonable measures were taken to avoid
insolvency? See section 5.03 of this revenue procedure.
Yes No N/A20.Does the application describe how the plan sponsor took into account - or did
not take into account - in the determination that all reasonable measures have
been taken to avoid insolvency, the impact of:
•benefit and contribution levels on retaining active participants and
bargaining groups under the plan, and
•past and anticipated contribution increases under the plan on employer
attrition and retention levels?
See section 5.03 of this revenue procedure.
Yes No N/A21.Does the application include a discussion of any other factors the plan sponsor
took into account including how and why those factors were taken into account?
See section 5.04 of this revenue procedure.
Yes No N/A22.Does the application include a copy of the proposed ballot, excluding the
information regarding the statement in opposition, the individualized estimate,
and the voting procedures? See section 6.01 of this revenue procedure.
Yes No N/A23.Does the application indicate whether the plan sponsor is requesting approval
from PBGC of a proposed partition under section 4233 of ERISA? See section
6.02 of this revenue procedure.
Yes No N/A24.If the answer to item 23 is yes, does the application specify the effective date of
the proposed partition and include a plan-year-by-plan-year projection of the
amount of the reduction in benefit payments attributable to the partition? See
section 6.02 of this revenue procedure.
Bulletin No. 2017–31July 31, 2017
171

Response
Item
numberDescription of item
Page number
in application
Yes No N/A25.Does the application include:
•a description of each of the assumptions used in the projections required
under sections 3.01, 3.02, 4.02(1), 4.02(2), and 4.03 of this revenue
procedure,
•supporting evidence for the selection of those assumptions, and
•an explanation of any differences among the assumptions used for various
purposes?
See section 6.03 and Appendix B of this revenue procedure.
Yes No N/A26.Does the application describe the plan’s experience with certain critical
assumptions, including a disclosure for each of the 10 plan years immediately
preceding the application that separately identifies:
•the total contributions,
•the total contribution base units,
•the average contribution rates,
•the withdrawal liability payments, and
•the rate of return on plan assets?
See section 6.04 of this revenue procedure.
Yes No N/A27.Does the application include deterministic projections of the sensitivity of the
plan’s solvency ratio throughout the extended period by taking into account the
more conservative assumptions of investment experience and future contribution
base units than assumed elsewhere in the application? See section 6.05 of this
revenue procedure.
Yes No N/A28.Does the plan include deterministic projections for each year in the extended
period of:
•the value of plan assets,
•the plan’s accrued liability, and
•the plan’s funded percentage?
See section 6.06 of this revenue procedure.
Yes No N/A29.Does the application include the plan sponsor’s representation that, if it receives
the Treasury Department’s final authorization to suspend and then chooses to
implement the suspension, it will also amend the plan:
•to provide that the suspension will cease upon the plan sponsor’s failure to
maintain a written record of its annual determination that (i) all reasonable
measures continue to be taken to avoid insolvency and (ii) the plan would
not be projected to avoid insolvency without a suspension,
•to require that any future benefit improvements must satisfy § 432(e)(9)(E),
and
•to specify that the plan sponsor will not modify these amendments,
notwithstanding any other provision of the plan document?
See section 6.07 of this revenue procedure.
Yes No N/A30.Does the application indicate whether the plan is a plan described in
§ 432(e)(9)(D)(vii) and, if it is, how that is reflected in the proposed benefit
suspension? See section 6.08.
Yes No N/A31.Does the application include a narrative statement of the reasons the plan is in
critical and declining status? See section 6.09.
July 31, 2017Bulletin No. 2017–31
172

Response
Item
numberDescription of item
Page number
in application
Yes No N/A32.Does the application include the required plan sponsor identification and contact
information? See section 7.01 of this revenue procedure.
Yes No N/A33.Does the application include the required plan identification information? See
section 7.02 of this revenue procedure.
Yes No N/A34.Does the application include the required retiree representative information (if
applicable)? See section 7.03 of this revenue procedure.
Yes No N/A35.Does the application include the required enrolled actuary information? See
section 7.04 of this revenue procedure.
Yes No N/A36.Does the application include a designation of power of attorney for each
authorized representative who will represent the plan sponsor in connection with
the application? See section 7.05 and Appendix C of this revenue procedure.
Yes No N/A37.Does the application include:
•the required plan documents
•any recent amendments
•the summary plan description (SPD)
•any summary of material modifications, and
•the most recent determination letter?
See section 7.06 of this revenue procedure.
Yes No N/A38.Does the application include the required excerpts from the relevant collective
bargaining agreements and side agreements? See section 7.07 of this revenue
procedure.
Yes No N/A39.Does the application include the required excerpts from the most recently filed
Form 5500? See section 7.08 of this revenue procedure.
Yes No N/A40.Does the application include the most recently updated rehabilitation plan? See
section 7.09 of this revenue procedure.
Yes No N/A41Does the application include the two most recent actuarial valuation reports?
See section 7.10 of this revenue procedure.
Yes No N/A42.Does the application include this checklist, completed and placed on top of the
application? See section 7.11 of this revenue procedure and this Appendix D.
Yes No N/A43.If the application is being submitted for resubmission review, does the
application include:
•cross-references to information in the prior application with respect to
information that has not changed from the prior application,
•a statement that the application is being submitted for resubmission review,
and
•the date on which the Treasury Department indicated that the application is
a candidate for resubmission review?
See section 8 of this revenue procedure.
Bulletin No. 2017–31July 31, 2017
173

SignatureDate
Typed or printed name of person signing checklist
July 31, 2017Bulletin No. 2017–31
174

Part IV. Items of General Interest
Partial Withdrawal of
Notice of Proposed
Rulemaking Transactions
Involving the Transfer of
No Net Value
REG–139633–08
AGENCY: Internal Revenue Service
(IRS), Treasury.
ACTION: Partial withdrawal of notice of
proposed rulemaking.
SUMMARY: This document withdraws
the remaining part of a notice of proposed
rulemaking containing proposed regula-
tions that would have required an ex-
change or distribution of net value for
certain corporate formations and reorgani-
zations to qualify for nonrecognition treat-
ment under the Internal Revenue Code
(Code). Other parts of the notice of pro-
posed rulemaking were previously ad-
opted as final regulations. The proposed
regulations being withdrawn also ad-
dressed the treatment of certain distribu-
tions not qualifying for tax-free treatment
under section 332 of the Code. The pro-
posed regulations being withdrawn would
have affected corporations and their
shareholders.
DATES: As of July 13, 2017, the pro-
posed revisions to § 1.332–2(b) and (e);
the proposed addition ofExample 2to
§ 1.332–2(e); the proposed additions of
§ 1.351–1(a)(1)(iii) and (a)(1)(iv); the
proposed addition ofExample 4to
§ 1.351–1(a)(2); the proposed amend-
ments to § 1.368 –1(a) and (b); the pro-
posed addition of § 1.368 –1(f); and the
proposed revision to § 1.368 –2(d)(1) in
the notice of proposed rulemaking (REG–
163314 – 03) that was published in the
Federal Register(70 FR 11903) on
March 10, 2005 are withdrawn.
FOR FURTHER INFORMATION CON-
TACT:Jean Broderick at (202) 317-6848
(not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
On March 10, 2005, the Department of
the Treasury (the Treasury Department)
and the IRS published a notice of pro-
posed rulemaking (REG–163314 – 03) in
theFederal Register(70 FR 11903) con-
taining proposed regulations under sec-
tions 332, 351, and 368 (2005 Proposed
Regulations). The 2005 Proposed Regula-
tions generally would have provided that
the non-recognition rules in subchapter C
of chapter 1 of subtitle 1 of the Code do
not apply unless there is an exchange (or,
in the case of section 332, a distribution)
of net value (the net value requirement).
The 2005 Proposed Regulations also pro-
vided that section 332 would apply only if
the recipient corporation receives some
payment for each class of stock it owns in
the liquidating corporation. Finally, the
2005 Proposed Regulations provided
guidance on the circumstances in which
(and the extent to which) creditors of a
corporation are treated as proprietors of
the corporation in determining whether
continuity of interest is preserved in a
potential reorganization (Creditor Conti-
nuity of Interest).
On December 12, 2008, the Treasury
Department and the IRS adopted the
Creditor Continuity of Interest provisions
of the 2005 Proposed Regulations as final
regulations (TD 9434) published in the
Federal Register(73 FR 75566). Minor
portions of the 2005 Proposed Regula-
tions that reflected statutory changes to
sections 332 and 351 were adopted as
final regulations as part of a Treasury de-
cision adopting final regulations under
sections 334(b)(1)(B) and 362(e)(1) (TD
9759), published in theFederal Register
(81 FR 17066) on March 28, 2016. The
Treasury Department and the IRS have
decided to withdraw the remainder of the
2005 Proposed Regulations.
The Treasury Department and the IRS
are of the view that current law is suffi-
cient to ensure that the reorganization pro-
visions and section 351 are used to ac-
complish readjustments of continuing
interests in property held in modified cor-
porate form. With respect to section 332,
the holdings ofH.K. Porter Co. v. Com-
missioner, 87 T.C. 689 (1986),Spaulding
Bakeries Inc. v. Commissioner, 27 T.C.
684 (1957),aff’d, 252 F.2d 293 (2d Cir.,
1958),H.G. Hill Stores, Inc. v. Commis-
sioner, 44 B.T.A. 1182 (1941), Rev. Rul.
2003–125, 2003–2 C.B. 1243, Rev. Rul.
68 – 602, 1968 –2 C.B. 135, Rev. Rul. 68 –
359, 1968 –2 C.B. 161, and Rev. Rul. 59 –
296, 1959 –2 C.B. 87, continue to reflect
the position of the Treasury Department
and the IRS.
Drafting Information
The principal author of this withdrawal
notice is Jean Broderick of the Office of
Associate Chief Counsel (Corporate).
However, other personnel from the Trea-
sury Department and the IRS participated
in its development.
*****
Partial Withdrawal of Proposed
Rulemaking
Accordingly, under the authority of 26
U.S.C. 7805, the Treasury Department
and the IRS withdraw the proposed revi-
sions to § 1.332–2(b) and (e); the pro-
posed addition ofExample 2to § 1.332–
2(e); the proposed additions of § 1.351–
1(a)(1)(iii) and (a)(1)(iv); the proposed
addition ofExample 4to § 1.351–1(a)(2);
the proposed amendments to § 1.368 –1(a)
and (b); the proposed addition of § 1.368 –
1(f); and the proposed revision to
§ 1.368 –2(d)(1) in the notice of proposed
rulemaking (REG–163314 – 03) that was
published in theFederal Register(70 FR
11903) on March 10, 2005.
Kirsten B. Wielobob
Deputy Commissioner of Services
and Enforcement.
(Filed by the Office of the Federal register on June 12, 2017,
8:45 a.m., and published in the issue of the Federal Register
for June 13, 2017, 82 F.R. 32281.)
Bulletin No. 2017–31July 31, 2017
175

Definition of Terms
Revenue rulings and revenue procedures
(hereinafter referred to as “rulings”) that
have an effect on previous rulings use the
following defined terms to describe the
effect:
Amplifieddescribes a situation where
no change is being made in a prior pub-
lished position, but the prior position is
being extended to apply to a variation of
the fact situation set forth therein. Thus, if
an earlier ruling held that a principle ap-
plied to A, and the new ruling holds that
the same principle also applies to B, the
earlier ruling is amplified. (Compare with
modified, below).
Clarifiedis used in those instances
where the language in a prior ruling is
being made clear because the language
has caused, or may cause, some confu-
sion. It is not used where a position in a
prior ruling is being changed.
Distinguisheddescribes a situation
where a ruling mentions a previously pub-
lished ruling and points out an essential
difference between them.
Modifiedis used where the substance
of a previously published position is being
changed. Thus, if a prior ruling held that a
principle applied to A but not to B, and the
new ruling holds that it applies to both A
and B, the prior ruling is modified because
it corrects a published position. (Compare
withamplifiedandclarified, above).
Obsoleteddescribes a previously pub-
lished ruling that is not considered deter-
minative with respect to future transac-
tions. This term is most commonly used in
a ruling that lists previously published rul-
ings that are obsoleted because of changes
in laws or regulations. A ruling may also
be obsoleted because the substance has
been included in regulations subsequently
adopted.
Revokeddescribes situations where the
position in the previously published ruling
is not correct and the correct position is
being stated in a new ruling.
Supersededdescribes a situation where
the new ruling does nothing more than
restate the substance and situation of a
previously published ruling (or rulings).
Thus, the term is used to republish under
the 1986 Code and regulations the same
position published under the 1939 Code
and regulations. The term is also used
when it is desired to republish in a single
ruling a series of situations, names, etc.,
that were previously published over a pe-
riod of time in separate rulings. If the new
ruling does more than restate the sub-
stance of a prior ruling, a combination of
terms is used. For example,modifiedand
supersededdescribes a situation where the
substance of a previously published ruling
is being changed in part and is continued
without change in part and it is desired to
restate the valid portion of the previously
published ruling in a new ruling that is
self contained. In this case, the previously
published ruling is first modified and then,
as modified, is superseded.
Supplementedis used in situations in
which a list, such as a list of the names of
countries, is published in a ruling and that
list is expanded by adding further names
in subsequent rulings. After the original
ruling has been supplemented several
times, a new ruling may be published that
includes the list in the original ruling and
the additions, and supersedes all prior rul-
ings in the series.
Suspendedis used in rare situations to
show that the previous published rulings
will not be applied pending some future
action such as the issuance of new or
amended regulations, the outcome of
cases in litigation, or the outcome of a
Service study.
Abbreviations
The following abbreviations in current
use and formerly used will appear in ma-
terial published in the Bulletin.
A—Individual.
Acq.—Acquiescence.
B—Individual.
BE—Beneficiary.
BK—Bank.
B.T.A.—Board of Tax Appeals.
C—Individual.
C.B.—Cumulative Bulletin.
CFR—Code of Federal Regulations.
CI—City.
COOP—Cooperative.
Ct.D.—Court Decision.
CY—County.
D—Decedent.
DC—Dummy Corporation.
DE—Donee.
Del. Order—Delegation Order.
DISC—Domestic International Sales Corporation.
DR—Donor.
E—Estate.
EE—Employee.
E.O.—Executive Order.
ER—Employer.
ERISA—Employee Retirement Income Security Act.
EX—Executor.
F—Fiduciary.
FC—Foreign Country.
FICA—Federal Insurance Contributions Act.
FISC—Foreign International Sales Company.
FPH—Foreign Personal Holding Company.
F.R.—Federal Register.
FUTA—Federal Unemployment Tax Act.
FX—Foreign corporation.
G.C.M.—Chief Counsel’s Memorandum.
GE—Grantee.
GP—General Partner.
GR—Grantor.
IC—Insurance Company.
I.R.B.—Internal Revenue Bulletin.
LE—Lessee.
LP—Limited Partner.
LR—Lessor.
M—Minor.
Nonacq.—Nonacquiescence.
O—Organization.
P—Parent Corporation.
PHC—Personal Holding Company.
PO—Possession of the U.S.
PR—Partner.
PRS—Partnership.
PTE
—Prohibited Transaction Exemption.
Pub. L.—Public Law.
REIT—Real Estate Investment Trust.
Rev. Proc.—Revenue Procedure.
Rev. Rul.—Revenue Ruling.
S—Subsidiary.
S.P.R.—Statement of Procedural Rules.
Stat.—Statutes at Large.
T—Target Corporation.
T.C.—Tax Court.
T.D.—Treasury Decision.
TFE—Transferee.
TFR—Transferor.
T.I.R.—Technical Information Release.
TP—Taxpayer.
TR—Trust.
TT—Trustee.
U.S.C.—United States Code.
X—Corporation.
Y—Corporation.
Z—Corporation.
Bulletin No. 2017–31July 31, 2017
i

Numerical Finding List
1
Bulletin 2017–27 through 2017–31
Action on Decision:
2017-5, 2017-27 I.R.B.1
Announcements:
2017-05, 2017-27 I.R.B.5
2017-08, 2017-28 I.R.B.9
Notices:
2017-37, 2017-29 I.R.B.89
2017-38, 2017-30 I.R.B.147
2017-39, 2017-31 I.R.B.150
Proposed Regulations:
REG-139633-08, 2017-31 I.R.B.175
REG-136118-15, 2017-28 I.R.B.9
Revenue Procedures:
2017-41, 2017-29 I.R.B.92
2017-42, 2017-29 I.R.B.124
2017-43, 2017-31 I.R.B.153
Revenue Rulings:
2017-14, 2017-27 I.R.B.2
Treasury Decisions:
9819, 2017-29 I.R.B.85
1
A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2017– 01 through 2017–26 is in Internal Revenue Bulletin
2017–26, dated June 27, 2017.
July 31, 2017Bulletin No. 2017–31
ii

Finding List of Current Actions on
Previously Published Items
1
Bulletin 2017–27 through 2017–31
Revenue Procedures:
2016-27
Modified by
Rev. Proc. 2017-43, 2017-31 I.R.B.153
2016-27
Superseded by
Rev. Proc. 2017-43, 2017-31 I.R.B.153
1
A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2017– 01 through 2017–26 is in Internal Revenue Bulletin
2017–26, dated June 27, 2017.
Bulletin No. 2017–31July 31, 2017
iii

INTERNAL REVENUE BULLETIN
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