What are the IRS criteria for using a third-party source of BMF data to comply with the Pension Protection Act of 2006?
The third-party source must present BMF information in a report that shows: • “the grantee’s name, Employer Identification Number, and public charity classification under section 509(a)(1), (2), or (3)”; • “a statement that the information is from the most-currently available IRS monthly update to the BMF, along with the IRS BMF revision date”; and • “the date and time of the grantor’s search.” Additionally, the IRS requires the third-party BMF data source to “be in a form which the grantor can store in hard copy or electronically.
The third-party source must present BMF information in a report that shows: • “the grantee’s name, Employer Identification Number, and public charity classification under § 509(a)(1), (2), or (3)”; • “a statement that the information is from the most current update of the BMF and the BMF revision date”; and • “the date and time the information was provided to the grantor.” Additionally, the IRS requires the third-party BMF data source to be “in a form that the grantor can store in hard copy or electronically.”
Related Questions
- What are the IRS criteria for using a third-party source of BMF data to comply with the Pension Protection Act of 2006?
- Is there an open enrollment period for the IRS tax benefit granted under the Pension Protection Act of 2006?
- Can FileMaker 7 products act as ODBC/JDBC client and/or data source on Mac OS X?
