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Plan Document Restatement + Terminating Plan


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We have a Cash Balance Plan that is terminating in 2024.  I believe we still need to complete the Cycle 3 restatement document, since we are already in the window, but I just wanted to confirm.

Thanks in advance!

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No, they are not required to fully restate. The only requirement is to provide good faith amendments. You need to contact the provider of the document to obtain these amendments. This assumes that the current document is of pre-approved nature.

Please keep in mind that these amendments are good faith (not IRS approved) and if you want absolute certainty of full compliance then either convince your client to fully restate or file for a determination on termination (which is a frivolous attempt if the document is already preapproved and might end up being more expensive and time consuming).

Whatever you/client decide to do, make all is done by termination date.

On a side note, I try to get my clients to fully restate and provide them the reasons why especially if they have millions in the plan. But this is me.

FWIW

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