EGTRRA Restatement!!
Periodically, every Qualified
Retirement Plan is required by the IRS to be entirely “restated” in order to
maintain the tax-qualified status of the Plan. Therefore, all Amendments and
changes since the last document revision must be incorporated into a new,
approved Plan document. The IRS allows only a limited amount of time to
complete this task. APC is prepared for it and ready to begin the restatement of
your Retirement Plan.
The IRS mandated that Defined
Contribution plans be restated by April 30, 2010 and all APC documents are
complete! The Defined Benefit restatements will begin shortly.
If you missed restatement of
your Defined Contribution plan document, APC can assist you with the IRS
voluntary compliance program (VCP).
Following are some questions you may have . . .
“Restatement” ---
What does it mean?
Amendments and tax law changes
are incorporated into existing qualified retirement plans through new plan
documents.
Must my plan be
restated?
Yes ---
This is an IRS requirement to
maintain the tax-qualified status of all Qualified Retirement Plans in the U.S.
Wasn’t this just
done recently?
The last restatement (referred to as “GUST”) was completed
between 2001 and 2003.
When will this
restatement take place?
The IRS requires that Defined
Benefit restatements be completed by April 30, 2012.
What do I have to
do?
Right now ---
Contact your APC Plan
Consultant to proceed with the restatement and priority processing of your Plan.
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