Amendment deadline for changing plan year

[John A]

Rev. Proc 87-27 states: 6. All actions necessary to implement the change of plan year, including plan amendment and a resolution of the Board of Directors (if applicable), have been taken on or before the last day of the short period.

Does anyone know if anything has superceded Rev. Proc. 87-27, or is the deadline for changing the plan year still the last day of the short plan year?

[Dave Baker]

None that I know of, though isn't that rule only important if one wants to come under a "safe harbor" automatic approval situation? Such that a change after plan year-end might be approved, depending on facts and circumstances, if it is submitted to IRS?

There's some helpful information on the printed instructions to whatever form the IRS provides for this purpose -- I forget the form's number right this minute, though.

[This message has been edited by Dave Baker (edited 10-12-1999).]

[Guest ARK]

Form 5308 is the form to use to change a plan year. If your plan falls within one of the exceptions, you need not file. If your plan satisfies the automatic approval rules, you need not file. If your plan fails to be excepted or automatically approved, you must file -- but your request for approval (on the form) will be DENIED if you failed to get automatic approval because you failed to talke all actions necessary to implement the cahnge of the plan year priro to the last day fo the short period.