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Posted

Can I do an amendment today to make eligiblity in a safe harbor plan immediate without the need to provide 30 days notice?

I say yes, because 2016-16 says the new notice period does not apply unless we are changing information in the required content of the SH Notice, and eligibility is not required content.

All those in favor, say "Aye!"

Austin Powers, CPA, QPA, ERPA

Posted

I think you can.  I would advise that the Safe Harbor Notice must be giving concurrent with new participation (which is already the rule).  I would recommend actually giving the notice to the new employees immediately for the effective date of the new amendment.  In other words, don't amend today and then issue the safe harbor notice to the new participants on Monday (as that would be after the effective date of the safe harbor). But, I do agree with you that you can.

Good Luck!

 

CPC, QPA, QKA, TGPC, ERPA

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