Amend or update a plan

Laws change frequently and plans need to be amended to comply with the most recent requirements.

Resources for drafting or modifying plan language

• Listings of required modifications (LRMs)
  Sample plan language for pre-approved plans
   
• Operational compliance list
  List of changes in qualification requirements effective during a calendar year
   
• Cumulative lists of changes in plan qualification requirements
  Items that may require amendments (post-2015 lists are for pre-approved plan cycles only)
   
• Required amendments lists
  Annual list of guidance that may require plan amendments (beginning 2016)
   
• Reference lists
  Fillable annual checklist of new guidance items affecting plan documents
   
• IRS checklists for retirement plan documents
  Worksheets and explanations (Alert Guidelines) used by the IRS in reviewing plans
   
• Recurring plan issues found in determination case review
  Common mistakes in plain language and tips on how to correct them

Amendment cycles

• 5-year cycle for individually designed plans (ending January 1, 2017)
   
• 6-year cycle for pre-approved plans
   
• Overview of staggered remedial amendment cycles

Employee stock ownership plans

• Guidance for ESOPs
   
• ESOP determination letter application review process

Related

• FAQs on determination, opinion and advisory letters
• Determination, opinion and advisory letters
• Determination Program Rev. Proc. 2016-37