Updating Solo 401(k)s for GUST

[dmb]

I've been told by a broker that Solo 401(k) plans or Uni-(k)s don't have to be updated for GUST. I thought all plans had to be updated for GUST, but since i don't work with many solo 401(k)s (and the ones i do work with are updated for GUST) I would appeal to higher ground. If anyone could confirm that Solo 401(k)s need or don't need to be updated for GUST, i would appreciate it. Thanks.

[Appleby]

All qualified plans must be amended for GUST… but technically, solo 401(k) plans already are.

Remember the whole solo 401(k) provision came about as a result of EGTRRA, which is post GUST. Therefore any solo 401(k) documents, which will have been produced post GUST, will already include both GUST and EGTRRA provisions .

Unless the employer is amending an existing 401(k) plan to modify it to be a solo 401(k) plan or operating an existing 401(k) plan as a solo 401(k) plan…then amendment is mandatory

[dmb]

I was thinking the same thing, but figured i'd ask anyway. Thanks.