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Text of IRS Notice 2021-48: Guidance on Single-Employer Defined Benefit Pension Plan Funding Changes Under the American Rescue Plan Act of 2021 (PDF)
Internal Revenue Service [IRS]Link to more items from this source
[Official Guidance]
July 30, 2021

18 pages. Topics addressed include:

  • Application of Section 430(c)(8) of the Code and Section 9706 of the ARP
    • Effect of Section 9706 of the ARP on interest adjustments with respect to certain contributions made pursuant to Section 3608(a) of the CARES Act
    • Applying the ARP segment rates to statutory hybrid plan interest credits
  • Manner and Timing of Making Elections under the ARP
  • Rules for Elections under Section 430(f) of the Code as a Result of the ARP and Flexibility to Redesignate Contributions Between Plan Years
    • Election to add to a prefunding balance
    • Revocation of an election to use a prefunding balance or funding standard carryover balance
    • Revocation of an election to reduce a prefunding balance or funding standard carryover balance
    • Redesignation of plan year for contributions
  • Changes in AFTAP under Section 436 of the Code as a Result of the ARP
    • Prospective application of change in benefit restrictions reflecting amendments made by the ARP
    • Retroactive application of change in benefit restrictions reflecting changes under the ARP
    • Rules with respect to elections under Section 3608(b) of the CARES Act
    • Recharacterization of contributions made to avoid benefit limitations pursuant to Section 436 of the Code
    • Corrections
  • Reporting Requirements for Changes for the 2019 Plan Year
  • Reporting Requirements for Changes for the 2020 Plan Year

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