restatement: IDP to prototype

[Scuba 401]

if my client is 1/31/2010 cycle and currently using an individually designed plan but intends on adopting an EGTRRA prototype plan, is it entitled to the april 30 deadline or the January 31 deadline?

[Kevin C]

I read Rev. Proc. 2007-44, Section 17.04 as saying you should restate by 1/31. But the wording could be clearer if they intended it to be required even if Form 8905 is timely executed. If it was my plan, I would restate by 1/31.

.04 An employer is an intended adopter if:

(1) the employer currently maintains a qualified individually designed plan and

(2) such employer and a sponsor or practitioner who maintains an existing pre-approved plan or an interim pre-approved plan execute Form 8905, Certification of Intent to Adopt Pre-approved Plan 4 , before the end of the employer's five-year remedial amendment cycle as determined under Part III of this revenue procedure. 5 However, if the employer's five-year remedial amendment cycle ends during or after the announced adoption period described in section 16.03 and 16.04 associated with the applicable six-year cycle, rather than execute Form 8905, the employer should instead adopt the newly approved version of a pre-approved plan (and will be treated as a new adopter under section 17.03).