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415 Limitation Year


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Reg. section 1.415-2(B) states that the limitation year is the calendar year, unless an election is made to change the limitation year. Section 1.415-2(B)(2) states that the method of election is by the "adoption of a written resolution by the employer".

In my case, my client, a local government, adopted a plan with a non-calendar year limitation year. The board of supervisors adopted the plan (which defines the limitation year as a fiscal year) but did not specifically "elect" a non-calendar year limitation year.

Does anyone know if a resolution which generally adopts the plan will qualify as an election to change the limitation year? I have not been able to find any additional guidance on this issue. Any insights would be appreciated.

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