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September 1, 2021
2021-1597

New guidance addresses IRS procedures for issuing opinion letters on 403(b) preapproved plans and makes interim amendment deadlines for 401(a) plans consistent with those for 403(b) plans

In Revenue Procedure 2021-37, the IRS explains its procedures for issuing opinion letters on the satisfaction in form of IRC Section 403(b) preapproved plans for the second remedial amendment cycle. The revenue procedure also addresses rules for determining when remedial amendment periods expire for IRC Section 403(b) preapproved plans.

Issued simultaneously, Revenue Procedure 2021-38 extends the deadline for adopting an interim amendment for an IRC Section 401(a) preapproved plan to match the deadline that Revenue Procedure 2021-37 applies to IRC Section 403(b) preapproved plans.

 

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