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RMD Final Reg Amendment


nancy

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  • 2 weeks later...

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?

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  • 6 months later...
Guest M. Martin

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.

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  • 2 weeks later...

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.

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  • 4 weeks later...

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?

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  • 3 weeks later...
Guest lvegas

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?

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