Retirement Plans FAQs Regarding EGTRRA Determination Letter Program for Pre-Approved Plans - FAQ #2
In 2009, I filed an application for an opinion letter as a word-for-word identical adopter of a mass submitter defined contribution M&P plan and received the opinion letter in late 2009. When must an employer adopt my M&P plan if the employer wants to be able to rely on my M&P plan’s opinion letter to retroactively amend the employer’s plan for EGTRRA?
In order to be able to rely on your plan’s opinion letter to retroactively amend its plan for EGTRRA, the employer must adopt your plan by no later than April 30, 2010 (the last day of the two-year adoption period announced in Announcement 2008-23), regardless of when the opinion letter was issued. This answer assumes that the employer timely signed Form 8905, Certification of Intent to Adopt Pre-approved Plan, or otherwise qualifies for the six-year cycle under section 17 of Rev. Proc. 2007-44, as modified by Rev. Proc. 2008-56, for example, as a prior adopter of a plan with a favorable GUST opinion letter.