Sarah73 Posted January 26, 2022 Posted January 26, 2022 It looks like during the period of Sept 2019 to Aug 2020, IRS opened the determination letter program for individually designed Cash Balance Plans. Is the program closed now? Does it mean it is not allowed for individual designed defined benefit plan to amend to an individual-designed cash balance plan anymore?
Effen Posted January 26, 2022 Posted January 26, 2022 There is nothing precluding a sponsor from amending their plan, however the IRS is not reviewing, or providing determination letters, for plan amendments. They will still provide a D letter upon plan termination. Luke Bailey 1 The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.
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