Late 401(a)(31) Amendment

[Guest mcw]

A Plan was submitted for a GUST letter. I have now realized (after a fax from the IRS) that the 401(a)(31) amendment was not signed on time (it was signed in 1997 before I took over the plan). Does anyone know what sanction they will impose on this?

[KJohnson]

Anywhere from $3,500 to $56,000 depending on the number of participants--at least according to the IRS disclosure at a fairly recent benefits conference. see the link below:

http://www.benefitscounsel.com/archives/000688.html