Defined Benefit Amendments

[HarleyBabe]

Was there a cut off date for plans who have terminated but the sole participant haan't taken their money as to if we have to amend or not?

[Lou S.]

I'm not sure I follow your question. All plans have to amend for current law upon plan termination.

[HarleyBabe]

I'm not sure I follow your question. All plans have to amend for current law upon plan termination.

I thought there was something in the past where the client could do a more simplified amendment rather than a full restatement if the plan was already terminated and the participants just haven't taken all the funds yet.

[Lou S.]

Is it a cost issue? If I had an EGTRRA doc, which we now do strongly suggest the client restate but I don't think it is technically required. i think there is some discussion about DC plans that were terminating and if they needed to restate or not is you do a serach of the forum.

As long as you have all the amendedments timely adopted by the earlier of the end of the remedial amendment period or plan termination (EGTRRA, PPA, HEART, 415, WRERA, etc.) you should be fine. We always recommend to our clients getting a DL on termination and the IRS will let you know if you are missing anything.