timely amendments

[Guest ASFESQ]

As part of the termination application, I submitted an Intent to Adopt Pre-Approved Volume Submitter document dated prior to 2/28/02 and a EGTRRA good faith and GUST plan amendment dated prior to 9/30/03. IRS agent said unless I have a corporate extension for 2003, amendment is late. Anyone have a similiar experience, and does anyone know the authority for supporting the 9/30/03 date?

[Kevin C]

The 9/30/2003 GUST restatement deadline for pre-approved plans is in Rev. Proc. 2002-73.

The good faith EGTRRA amendment was due by the end of the plan year starting in 2002.

Which amendment are they saying is late?

[Guest ASFESQ]

The 9/30/2003 GUST restatement deadline for pre-approved plans is in Rev. Proc. 2002-73.

The good faith EGTRRA amendment was due by the end of the plan year starting in 2002.

Which amendment are they saying is late?

EGTRRA

I thought EGTRRA was extended also.

[Guest ASFESQ]

The 9/30/2003 GUST restatement deadline for pre-approved plans is in Rev. Proc. 2002-73.

The good faith EGTRRA amendment was due by the end of the plan year starting in 2002.

Which amendment are they saying is late?

EGTRRA

I thought EGTRRA was extended also.

This is part of Notice 2001-57

A good faith EGTRRA plan amendment is timely if it is adopted no later than the later of (i) the end of the plan year in which the EGTRRA change in the qualification requirements is required to be, or is optionally, put into effect under the plan or (ii) the end of the GUST remedial amendment period for the plan

Doesn't this extend the remedial period for EGTRRA to 9/30/03

[Kevin C]

Take a look at the 12/19/2003 IRS Memorandum that addresses EGTRRA amendments adopted before the GUST restatement. There are circumstances where you were required to adopt a good faith EGTRRA amendment before the end of the 2002 plan year in order to use certain EGTRRA provisions. The EGTRRA 401(a)(17) comp limit is mentioned as one of those provisions.