Non-calendar year plan deadline

[Cathy from Chicago]

Mind has suddenly gone blank - when is the GUST amendment deadline for a non-calendar year prototype plan? EX: Plan anniversary 3/1 - is (or was!) the GUST amendment deadline 3-1 or can it be done effective 1-1-02 allowing for the extension to 12/31? Thanks.

[Mike Preston]

The regular deadline, for an individually designed plan, was 2/28 (not 3/1). However, if the plan that it is currently on submitted its application for a GUST prototype approval before 12/31/2000, then the deadline is no earlier than 12/31/2002. You should check with the prototype plan sponsor to determine whether or not they qualify. If they do, they will tell you whether they hae a deadline of 12/31/2002, or whether their deadline is later.