Internal Revenue Bulletin: 2004-23
June 7, 2004
This is to correct an error in the second sentence of section V. of Announcement 2004-43, 2004-21 I.R.B. 955. The phrase “that begins during calendar 2004” should read “that begins before April 1, 2004.”
As a result, section V. is corrected to read as follows:
Notwithstanding the requirement to make an election by the end of the first quarter of the plan year, the following transitional rules are applicable. If an employer makes an alternative deficit reduction contribution election on or before June 30, 2004, that election will be deemed timely for the plan year that begins before April 1, 2004. In addition, if an employer issues a PBGC notice for a plan on or before June 5, 2004, the PBGC will treat the PBGC notice as timely issued.
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