Form 8905 vs. Interim amendments

[D Syrett]

Have a client that has an individually designed DB plan document ("IDP"). Intends to move to a prototype when the amendment and restatement is done at a future date and has timely executed a Form 8905 noting that intent.

The deadline to adopt the IRC 415 interim amendment was 9/15/08 for the IDP. The prototype timely adopted the 415 amendment at the sponsor level.

Question: Does the client get the "benefit" of the timely prototype 415 amendment OR is this not the case and is the client a late adopter?

(I think is answer is the later.)

[J Simmons]

The 8905 just puts the plan on a different cycle than if it were going to continue as an IDP. The intended prototype's amendment would not update the IDP before the prototype is adopted on behalf of the plan. They blew the deadline.