nancy Posted January 11, 2004 Share Posted January 11, 2004 A plan sponsor timely adopted for GUST but failed to adopt the RMD final reg amendment by 12/31/03. Where are we now? Non-amender? Help!! Link to comment Share on other sites More sharing options...
Guest lvegas Posted January 23, 2004 Share Posted January 23, 2004 As a follow-up which may help to flesh this issue out, must a plan that has obtained a favorable GUST determination letter and is in compliance with the final RMD regs also adopt a "snap-on" RMD amendment if the plan text already incorporates 401(a)(9) and the regulations thereunder by reference? Link to comment Share on other sites More sharing options...
Guest M. Martin Posted August 5, 2004 Share Posted August 5, 2004 I've searched & searched with no luck for similar threads on this topic. Has anyone else encountered a take-over plan where the RMD amendment wasn't adopted by 12-31-03? The plan in question is on a prototype and was timely amended for GUST & EGTRRA but can't locate their RMD amendment. In the adoption agreement there is an item for Minimum Distributions that reads: "The proposed Code Section 401(a)(9) Regulations issued in January 2001 apply with respect to distributions under the Plan made on or after January 1, 2001 unless a later date if specified below..." Just wondering what type of adverse consequences might be involved when a plan contains the temporary reg. language & has been operating accordingly but doesn't have proof of the final MRD amendment being adopted. Rev. Proc. 2002-29, Section 2 .08 contains language concerning a remedial amendment period during which any needed retroactive amendments can be made - would this apply in this situation? Any input would be greatly appreciated. Link to comment Share on other sites More sharing options...
g8r Posted August 8, 2004 Share Posted August 8, 2004 If the RMD amendment was not adopted timely, then you can only correct under EPCRS as a non-amender. Link to comment Share on other sites More sharing options...
Guest saber Posted August 18, 2004 Share Posted August 18, 2004 Check with your prototype sponsor and ask for a copy of their model 401(a)(9) amendment. The prototype sponsor should have adopted it for the employers. Link to comment Share on other sites More sharing options...
Guest lvegas Posted September 13, 2004 Share Posted September 13, 2004 Could Rev. Proc. 2004-25, which extends the remedial amendment period for new plans and plan amendments to the end of the remedial amendment period for EGTRRA, be interpreted to permit a non-amender to amend w/o going through EPCRS? Link to comment Share on other sites More sharing options...
g8r Posted September 14, 2004 Share Posted September 14, 2004 Nope. See the IRS web site: http://www.irs.gov/retirement/article/0,,id=122798,00.html Link to comment Share on other sites More sharing options...
Guest lvegas Posted October 4, 2004 Share Posted October 4, 2004 How expensive is EPCRS for this type of failure and can it be done anonymously? And again, is EPCRS necessary if the plan already incorporates the 401(a)(9) regs by reference? Link to comment Share on other sites More sharing options...
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