Announcement 2014-16 - Opinion and advisory letters for pre-approved defined contribution plans expected March 31 

March 27: The IRS today released an advance copy of Announcement 2014-16 stating that the IRS will soon issue opinion and advisory letters for pre-approved—master and prototype (M&P) and volume submitter (VS)—defined contribution plans that were restated for changes in plan qualification requirements listed in the 2010 Cumulative List and that were filed with the IRS during their second submission period under the remedial amendment cycle under Rev. Proc. 2007-44.

Announcement 2014-16 [PDF 26 KB] states that the IRS expects to issue the letters on March 31, 2014, or—in some instances—as soon as possible after that date.


Employers using these pre-approved plan documents to restate a plan for the plan qualification requirements on the 2010 Cumulative List will be required to adopt the plan document by April 30, 2016.


Starting May 1, 2014, and ending April 30, 2016, the IRS will accept applications for individual determination letters from employers under the second six-year remedial amendment cycle for defined contribution pre-approved plans.




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