IRS pushes back on amendment deadlines

The IRS announced that the amendment deadline for most qualified retirement plans, including 401(k) plans, for several recent pieces of federal legislation generally has been extended by up to one year. The Notice, generally applies to plan amendments that are required to be made in response to applicable provisions contained in the following new laws: Setting Every Community Up for Retirement Enhancement Act of 2019 (“SECURE Act”); Coronavirus Aid, Relief and Economic Security Act (“CARES”); Taxpayer Certainty and Disaster Tax Relief Act of 2020 (Relief Act); and SECURE 2.0 Act (“SECURE 2.0”).

SECURE 2.0 had previously coordinated the amendment deadline for these laws, to December 31, 2025, for calendar year plans.

However, per the Notice, for most 401(k) plans, plan amendments must now be made by no later than December 31, 2026.

Story Page
%d bloggers like this: