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November 01, 2007 at 10:59 PM
The Internal Revenue Service wants to charge more for a program that sets quality standards for key retirement plan advisors.
The IRS has proposed charging a $250 enrollment fee and a separate $250 renewal fee for actuaries who want to become “enrolled actuaries.”
The IRS now charges a $25 renewal fee, according to a preamble to proposed regulations that appear today in the Federal Register.
The Employee Retirement Income Security Act set up the enrolled actuary program in an effort to ensure that the actuaries supplying the actuarial analyses required by ERISA were competent and ethical.
