Are interim amendments required to comply with provisions of the final § 401(k) and (m) regulations published on December 29, 2004, and if so, when must the amendments be adopted?
Yes. Interim amendments for the final § 401(k) and (m) regulations must be adopted by the deadline under section 5.05 of Rev. Proc. 2007-44. The exact deadline depends on whether an amendment is discretionary or interim. Discretionary amendments must be adopted by the end of the plan year in which the plan amendment is effective, and amendments for designated disqualifying provisions and integrally related amendments (interim amendments) must be adopted by the end of the remedial amendment period described in section 2.05 of Rev. Proc. 2007-44. However, also see Notice 2005-95, which extends the date for some amendments and provides special rules for both the final § 401(k) and (m) regulations and designated Roth contributions. 2. Since interim amendments must be made throughout a plan’s remedial amendment cycle, why does a plan have to be restated when an application is submitted for an opinion, advisory or determination letter? Interim amendments are required to keep the written plan
Related Questions
- Are interim amendments required to comply with provisions of the final § 401(k) and (m) regulations published on December 29, 2004, and if so, when must the amendments be adopted?
- What happens if my plan does not comply with the final 403(b) regulations as of Jan. 1, 2009?
- What has been the reaction then to the Interim Final Rule in the past couple of months?
