Two-Year Period for Adopting Pre-Approved Defined Contribution Plans Announced

The IRS has announced the second two-year period for adopting pre-approved plans under Revenue Procedure 2007-44.

Document Excerpt

Employers using these pre-approved plan documents to restate a plan for the plan qualification requirements on the 2010 Cumulative List will be required to adopt the plan document by April 30, 2016. Starting May 1, 2014 and ending April 30, 2016, the Service will accept applications for individual determination letters from employers under the second six-year remedial amendment cycle for defined contribution pre-approved plans.

Link http://www.irs.gov/pub/irs-drop/a-14-16.pdf

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