Subscribe (Free) to
Daily or Weekly Newsletters
Post a Job

Featured Jobs

Retirement Plan Analyst/Administrator

Compensation Strategies Group, Ltd.
(Remote / Beaumont TX)

Compensation Strategies Group, Ltd. logo

Education Consultant

(Remote / Putnam Valley NY)

Pentegra logo

Quality Assurance Manager

Nova 401(k) Associates

Nova 401(k) Associates logo

Retirement Plan Administrator

Nicholas Pension Consultants
(Remote / Corona CA / Rancho Cordova CA)

Nicholas Pension Consultants logo

View More Employee Benefits Jobs

Free Newsletters

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Mobile App image LinkedIn icon
Twitter icon
Facebook icon

<< Previous news item   |   Next news item >>

Text of IRS Rev. Proc. 2021-37: Procedures for Issuing Opinion Letters for Section 403(b) Pre-Approved Plans for the Second Remedial Amendment Cycle; Rules for Determining When Remedial Amendment Periods Expire for Section 403(b) Pre-Approved Plans (PDF)
Internal Revenue Service [IRS]Link to more items from this source
[Official Guidance]
Sept. 1, 2021

83 pages. "This revenue procedure modifies the procedures for the Section 403(b) Pre-approved Plan program to be more similar to the procedures applicable under the Section 401(a) pre-approved plan program in several ways, including:

  • simplifying the Section 403(b) Pre-approved Plan program by eliminating the distinction between prototype and volume submitter plans;
  • providing that the IRS will issue a Cumulative List of Changes in the Section 403(b) Requirements (Cumulative List) identifying the Section 403(b) Requirements that the IRS will take into account in reviewing Section 403(b) Pre-approved Plans submitted for Cycle 2;
  • making Section 403(b) Pre-approved Plan program provisions regarding reliance on an Opinion Letter more similar to the provisions applicable under the Section 401(a) pre-approved plan program, including provisions that permit the submission during the Employer Adoption Window of an application for a determination letter using Form 5307, Application for Determination for Adopters of Modified Volume Submitter Plans, by [1] an Adopting Employer of a Nonstandardized Plan that makes amendments to the plan that are not extensive, or [2] an Adopting Employer of any Section 403(b) Pre-approved Plan (whether a Standardized Plan or a Nonstandardized Plan) that adds language to satisfy the requirements of Section 415 due to the required aggregation of plans; and
  • providing details regarding the system of cyclical Remedial Amendment Periods that follows the Initial Remedial Amendment Period."

Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the link above).
An important word about authorship: BenefitsLink® is providing a hypertext link to the item shown above, but is not the author of the item (unless otherwise specified).
© 2022, Inc.