Individually Designed Plan - OK to Sign Certification by 2/28/02?

[Christine Roberts]

Presuming it is possible to restate an individually designed plan on a volume submitter document without any cut-back violations, will the sponsor of an individually designed plan meet their GUST restatement deadline by executing, on or before 2/28/02, a certification of intent to timely adopt the volume submitter document?

Also, I believe it was stated by the IRS, perhaps at the last ASPA conference in LA or elsewhere, that a plan that currently is on a prototype or volume submitter document, but that is deemed to be an individually designed plan due to specialized plan language or amendments, can still meet the GUST restatement deadline by executing, on or before Feb. 28, 2002, the certification of intent to restate on a volume submitter or prototype plan document. Does anyone recall who said this, and when?

[Archimage]

That is correct. If you are currently on an individually designed plan, you have until 2/28/2002 to execute a certification of intent.