Missed Adoption Deadline

[Guest Grumpy456]

My firm has a Cycle D individually designed plan. I just realized that I did not have the client adopt a restatement by 1/31/2010. The plan is a multiemployer plan (so deemed to be a Cycle D plan).

I expressed my concern to an attorney friend who does some ERISA work and he claims that so long as all of the interim amendments have been timely adopted, there is no problem having the client adopt their Cycle D restatement now since the restatement merely rolls the interim amendments into another form, i.e., the restated document. I want the attorney's claim to be right because it solves my problem, but I am skeptical. Everything I've read seems to indicate that the client is now a "nonamender" (under VCP-speak) and that I should use the VCP program to correct the problem.

Do we have a problem to correct?

Thanks so much for any thoughts.