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IRS Announces Remedial Amendment Period for 403(b) Plan Documents

2010-01-21

The IRS has formally announced (in Announcement 2009-89) a remedial amendment period for 403(b) plan documents that were adopted by plan sponsors by December 31, 2009 and were intended to satisfy the requirements of Internal Revenue Code section 403(b) in accordance with IRS Notice 2009-3.

A remedial amendment period permits a plan sponsor to retroactively correct deficiencies in its plan documents with respect to satisfying the requirements of Code section 403(b), including the final 403(b) regulations, and applicable subsequent guidance.

The Hewitt bulletin linked to below discusses the remedial amendment period in detail.

IRS Announces Remedial Amendment Period for 403(b) Plan Documents