August 19, 2022

So you missed the 7/31/22 deadline for restating pre-approved 401(k) plans…now what?

To remain in compliance with the tax law, pre-approved plan providers must update their plan documents and obtain approval letters from the IRS every six years. The adopting employers then have a set period of time-about two years-to adopt the updated plan document. The adoption deadline for the latest plan amendment cycle (Cycle 3) was July 31, 2022.
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