GUST Amendment for Terminating Plans

[Christine Roberts]

Can a terminating plan still use the tack on amendment for terminating plans that the Cincinnati office issued in 1998? Or is something additional required for full GUST compliance?

------------------

[davef]

We have been using tack on GUST amendments for plan terminations without any problems from the IRS.

[Christine Roberts]

Yes, I just heard back from the Cincinnati Key District Office on this; they stated that they have two tack on amendments for GUST - one for plans terminating in 1998 and one for plans terminating in 1999 - they advised using the 1999 amendment for post -99 terminations.

------------------

[chris]

Any way to get a copy of the tack on amendment for post 1999 terminations?

------------------

[Guest Beth N]

Ditto Chris's question. I'd like to see the post-99 tack-on amendments.

[Christine Roberts]

The latest word I have on this one is that the 1999 tack on amendment is the most recent available from the IRS, and may continue to be used with the following provisos:

1) it does not contain 415(e) repeal; and

2) it does not contain safe harbor language under 401(k) or (m) so such language must be added if the plan sponsor took advantage of the safe harbors prior to termination of the plan.

The IRS tack on amendment can be obtained by calling (877) 829-5500.

[Dave Baker]

Here's a link to the sample language that came to me in 1998 -- probably hasn't been changed -- seems to be the Cincinnati language Christine refers to.

This version doesn't have 401(k)-specific language, though. I know there is sample language out there for 401(k) plans.

http://www.benefitslink.com/articles/terml...mlanguage.shtml

[Christine Roberts]

In response to Dave's post, the IRS did do a new version for 1999 terminations that is different from the 1998 version. I can't cite the differences as I have not had time for a side-by-side comparison. Dave, if you would like me to fax the 1999 version to you so you can get it on the system, let me know.