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EGTRRA restatements


Rai401k
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We are still working on our EGTRRA restatements. We started them earlier this yr and plan to have them all done and signed by the end of 2009.

I was just curious to find out if we were the only one's still working on them, I feel like a lot people that I've spoken to had them done last year ....or are almost done.

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About 50% done at this point.

John Simmons

johnsimmonslaw@gmail.com

Note to Readers: For you, I'm a stranger posting on a bulletin board. Posts here should not be given the same weight as personalized advice from a professional who knows or can learn all the facts of your situation.

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Guest Sieve

I'm in WDIK's camp.

If I remember GUST correctly, people were so far behind in their restatements--me included--that the IRS gave one final extension from 9/30/2003 until 1/31/2004 (with payment of a $350 fee and a mandatory IRS favorable letter application). Besides having 5 or so plans signed on 9/30 (some by fax), I had another 6 or 8 to complete by 1/31 (and some of those went down to the last day)!! I suspect I'll be right down to the 4/30/2010 wire for some plans this time around . . .

I thought that's what deadlines were for . . .

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Does anyone charge extra for those who keep postponing? I think I am going to have a major fee increase from 2009 to 2010. Especially because of the PPA compliance problem.. I use Corbel VS and they are not going to write a good faith amendment for the old GUST doc. So I think I really need to be done by 12-31-09.

Ok ....Ok enough whining for today. I'm going to go get some cheese to have with it.

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The reason we are so far along is because we offered a discount to people who completed the process early. (30% if they responded within 60 days, 20% for the next couple of months) We also plan to raise the fee for anyone who delays too long, but have not yet heard an amount from management.

P.S. Jack Frost makes a good point! What was Robert thinking?

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