Required Plan Amendments
With the close of each plan year, sponsors are faced with the following question: “Have all the mandated plan amendments been made in our plan?” This is a critical question because if they have not, there is always a possibility that the plan may lose its favored tax status and, among other things, participants’ contributions will notbe tax-deferred. Imagine the potential law suits!
The IRS has published a list that may help you answer that question, and not just for the most recent year.The lists are by cycle, but never fear because there is a narrative to help you determine your cycle and select the right list.
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