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Retirement Plans FAQs Regarding EGTRRA Determination Letter Program for Pre-Approved Plans - FAQ #1

I am the sponsor of a pre-approved plan (i.e., an M&P sponsor or volume submitter practitioner). I restated my pre-approved plan for EGTRRA and I have received a favorable EGTRRA opinion or advisory letter. When do employers who are prior adopters of my plan or who are otherwise eligible for the six-year remedial amendment cycle under section 17 of Rev. Proc. 2007-44, as modified by Rev. Proc. 2008-56, have to adopt my EGTRRA-approved plan?

If the plan is a defined contribution plan, employers must adopt the EGTRRA-approved plan by no later than April 30, 2010, which is the last day of the two-year adoption period announced in Announcement 2008-23. If the plan is a defined benefit plan, employers must adopt the EGTRRA-approved plan by no later than April 30, 2012, which is the last day of the two-year adoption period announced in Announcement 2010-20.

Page Last Reviewed or Updated: 18-Jul-2014