Minimum Distribution Amendment

[Richard Anderson]

Is there a more recent Minimum Distribution amendment for Defined Benefit plans, issued after the one in Rev Proc. 2002-29? Thanks.

[Peanut Butter Man]

The most recent Model Amendment is the one the IRS published in 2002-29. The IRS currently requires a good faith Required Minimum Distribution amendment for defined benefit plans. It should contain the language in 2002-29 along with the language from the final regulations published June 15, 2004.

[Blinky the 3-eyed Fish]

The 401(a)(9) amendment deadline for DB plans is the end of the EGTRRA remedial amendment period -Rev. Proc. 2003-10.

[Belgarath]

Also see Notice 2005-95. But be aware that for plan terminations, the IRS is requiring that they be adopted.

While I have this bully pulpit here, I'd like to put in a plug for those of you connected with ASPPA, IRS, etc., as something that could use some change, IMHO.

I have yet to find anything positive to say about the foolishness of being required to amend a terminating plan in such situations. If you have operational compliance with the required amendment, or if it is completely inapplicable (the last one, for instance, had not had any minimum distributions to make, as no one working, or terminated within the last 15 years, or with a current account balance, had even been 65 years old) why in the world must everyone jump through these hoops? It accomplishes nothing as far as I can see.

There, that's my rant for the day. But seriously, I know I'm not the only one with this complaint, and perhaps the powers that be could be persuaded to change this requirement?