GUST Certification

[perkinsran]

We are a sponsor of a Corbel Prototype and we just picked up a new plan from a major payroll vendor. They had a 401(k) prototype and the vendor received their GUST letter 4/29/02. We talked to the payroll vendor and they said new documents/AA/SPd were being mailed out end of November.

We thought, from prior conversation with COrbel, that Prototype plans had to sign a certification by 2/28/02 to be granted the extended relief. It now appears the client may have until 12/31/02 to adopt the restated plans from payroll vendor.

Query--Since the client did not sign a Certification by 2/28/02, are they granted the relief if they adopt the payroll prototype by 12/31/02. ALso, could they simply adopt the COrbel prototype by 12/31/02 with a 2/28/02 certification.