space
Fox & Fox
space space space space space
space space
space space

Defined Contribution Plan Amendments from GUST to WRERA

Amendment

Usage

Deadline

Type

Community Renewal Tax Relief Act

Salary reduction amounts under 132(f)(4) must be included

First plan year beginning after December 31, 2000

Interim

2001 Proposed RMD Regulations

Needed if 2001 Pro. RMD Regs used in 2001 or 2002

By end of year used, i.e., 2001 or 2002

Discretionary

125 Cafeteria Amendment

Needed if a §125 plan also exists

By the end of the 2002 plan year

Integral

EGTRRA Good Faith Amendment

All qualified plans

By later of last day of 2002 plan year or the end of the GUST RAP

Interim

RMD Amendment

All DC, 403(b) and IRA

By the end of 2003

Interim

Deemed IRA

Optional

By the end of the plan year in which deemed IRA contributions are first accepted

Discretionary

Roth Amendment

Optional

By the end of the plan year in which Roth 401(k) contributions are first accepted, starting with 2006. Notice 2005-95 and 2006-44

Discretionary

Automatic Rollover

Required for all plans using involuntary cash-out

Later of December 31, 2005 or tax filing deadline for plan year that included March 28, 2005.

Integral

401(k) and 401(m) Final Regulations

Required for all 401(k) and (m) plans. Also required for plans that have hardship: i.e., profit sharing plans and 403(b) plans

Generally by the end of 2006

Interim

401(k) and 401(m) Final Regulations

For profit sharing with hardship

Generally by the end of 2006

Integral

KETRA, GOZA

Plans incorporating the hurricane provisions

By the end of 2007 plan year

Discretionary

Notice 2005-70

IRS agency relief for Hurricane Katrina

By the end of 2006 plan year

Discretionary

Final 415 Regulations

All qualified plans

Last day of the first limitation year starting with limitation years beginning on or after July 1, 2007

Interim

PEO-sponsored plans

PEO multiple employer DC plans must meet exclusive benefit rule by amendment to plan or restatement onto individual plan for each employer

Rev. Proc. 2002-21 and Rev. Proc. 2003-86 detailed the process and provided deadline as of the end of the EGTRRA RAP

Interim

EGTRRA Restatement

All qualified plans

EGTRRA restatement cycle set forth in Rev. Proc. 2007-44

Restatement

Job Creation  and Worker Assistance Act of 2002 (JCWAA) (Though not a plan amendment, note the point under the deadline column.)

Clarified catch-up provisions; Ordering of pre and post tax amounts distributions; Deduction limit for combined DB/DC plans doesn’t apply if only DC amounts are elective deferrals (no employer amounts ); Top heavy distributions taken into account for only one year after termination of employment

Small business tax credit for new plan expenses only applicable for the new plans first effective after 2001. Plans with an effective date before 2002 are not entitled to this.

Amendment not required

PPA Amendment

All qualified plans

By the end of the 2009 plan year

Interim

HEART Amendment

All qualified plans

By the end of 2010 plan year

Interim

EESA

Plans incorporating the EESA Midwest Disaster Relief Provisions (Similar to KETRA provisions)

By the end of the 2010 plan year

Discretionary

WRERA

All affected DC plans

By the end of the 2011 plan year

Interim

 

space
space
space