Union plan documentation

[Guest jim williams]

Are plans established through collective bargaining required to be submitted to the IRS for approval? We have one 401(k) plan where the contribution formula does not conform to a prototype or volume submitter document. We believe we will have to draft an individually designed plan document. Any advise?

[KJohnson]

You've probably posted this on the wrong board.

No plan is required to be submitted to the IRS for a determination letter. However, it is a VERY good idea for an individually designed plan.

Depending on the current status of your plan, the time for filing for a determination letter on a GUST restatement may have already passed at the end of February 2002.

However, in certain instances if you were previously on a prototype or volume submitter you MAY have until the end of 2002 (or possibly a little later) to submit your individually designed plan for a determination letter.