Issue Number: N-2012-06

Notice 2012-06 extends and expands the transition relief provided under Rev. Rul. 2011-1, 2011-2 I.R.B. 251, and Rev. Rul. 2008-40, 2008-2 C.B. 166, for certain group trusts, certain retirement trusts that qualify under the Puerto Rico Internal Revenue Code (Puerto Rico Code) and that participate in group trusts, and certain qualified retirement plans that benefit Puerto Rico residents. This notice also provides additional time for governmental retiree benefit plans described in sub section 401(a)(24) of the Internal Revenue Code (Code) (sub section 401(a)(24) plans) to be amended to satisfy the applicable requirements of Rev. Rul. 2011-1.

Notice 2012-06 will be in IRB will be in IRB IRB 2012-3, dated January 17, 2012.