Late amender

[Guest JPIngold]

Fortunately, I survived the EGTRRA restatement period last year and didn't have anyone miss the 4/30 deadline. However, a local CPA firm called me last week and said they had one client who last amended their plan at the end of 2002 with the GUST document and the EGTRRA good faith amendment. They have asked me to prepare the necessary amendments and EGTRRA restatement so that they can go to the IRS under the Late Filer program.

Not having done this before, I am wondering ... what should I use as the effective date for the EGTRRA restatement and PPA/HEART/WRERA, etc. amendments??? I am using the Corbel volume submitter document. I know that during the EGTRRA restatement period, we were advised to use the first day of the plan year in which the restatement was being adopted and the document itself contained the various regulatory effective dates. Just not sure what to do with the late amender situation.

Thanks for any input!!!

[Guest Sieve]

Document/amendment effective dates should be as they'd have been if adopted timely.

[ETA Consulting LLC]

Document/amendment effective dates should be as they'd have been if adopted timely.

Agreed. Keep in mind that you are not "amending the plan" to the extent of saying it actually operated differently during the point in time. You are merely "restating" without changes to actual plan provisions. It's more like re-writing the same plan provisions to the new document that excludes outdated and useless language (i.e. multiple use test provisions). With that in mind, you can actually restate all the way back to, let's say, 1/1/2008. At a minimum, I would at least ensure the date was within the Remedial Amendment Period.

Good Luck!