1999 GUST Restatements - Status anyone?

[mwyatt]

Does anyone know the current status of the impending restatement of plan documents in the 1999 plan year? Has anyone heard any talk of extensions by the IRS and/or opening up of DL program post '98 approval? Time is running short if we're to redo all plans by 12/31/99 (I know that we all have laser printers in 1999 rather than daisywheel printers in 1985, but time is running short!)

Seriously, has anyone have any insights as to when we can expect to start generating documents for ALL of our clients?

[davef]

I can't remember where I read it but I recall that Carol Gold (IRS) recently spoke at a conference where she indicated that they were looking into extending the deadline for prototype plans. Sponsors would supposedly have an extension to get M&P plans approved; once the IRS approves the document, employers would have a year or so to sign a new adoption agreement. It's not clear how those with individually designed plans will be treated. Folks at Corbel are of the same thinking.

[Guest gaham]

Davef, that's nothing new. That's what they did for TEFRA, DEFRA, and REA amendments. What we need is an extension to the '99 plan year end deadline. I think a large number of practitioners are relying on such an extension (I know I am) but I've seen nothing.