Pre-approved plan
Solo 401(k) document drafted by a sponsor and pre-approved by the IRS via opinion letter — adopting employers rely on the letter.
Definition
A pre-approved plan is a master, prototype, or volume submitter plan document drafted by a financial institution, brokerage, or advisor and reviewed by the IRS. The IRS issues an opinion letter dated for each 6-year remedial amendment cycle. An adopting employer relies on the opinion letter rather than seeking its own determination letter. Form 5500-EZ plan characteristic code 3D applies to pre-approved plans.
Why it matters
For IRS Form 5500-EZ, this term helps decide which records, dates, values, or review questions belong in the packet.
How the tool uses it
Solo 5500 treats this as a review signal. The user enters the facts, checks the source-linked explanation, reviews the packet, and files through the official channel when the supported case still fits.
When to check the source
Check the official source when the answer depends on eligibility, late filing relief, official correspondence, valuation, or a fact you cannot verify from your own records.
Source and review date
Last reviewed: . Use the linked source for the official wording behind this term.
Official source: IRS Form 5500-EZ filing notices