Adoption of GUST I Volume Submitter--now what?

[lkpittman]

We have a client who adopted a volume plan in December 12/31/01. The employer assumed that the volume plan was pre-approved for GUST (pre-99 and post 98). Turns out, this volume plan was only approved for GUST I at the time of adoption. The advisory letter for full GUST was issued for this volume plan on in January 2002. Employer did not submit the first plan for a d.l. The Employer also has not executed any 2002-20 certification. Is this employer okay at this point to simply adopt the same volume submitter's plan? I'm a little confused as to why the volume sponsor didn't provide more information to the employer--i.e., inform him of the certification, etc.

[jaemmons]

As long as the employer adopted ANY version of the VS, as is the case here, by the later of 2/28/02 or the last day of the 2001 plan year, they are afforded an extension of time to restate the VS letter by the later of 12/31/02 or 1/03 (based upon your message). NO certification is required.