The IRS today released an advance version of Notice 2020-83 providing the “2020 required amendments list.”
As explained by Notice 2020-83 [PDF 171 KB], the required amendments list applies to both: (1) individually designed plans qualified under section 401(a); and (2) individually designed plans that satisfy the requirements of section 403(b).
Notice 2020-83 further explains that in general:
Therefore, for these purposes, December 31, 2022 would be the last day of the remedial amendment period for a disqualifying provision in an individually designed plan that is qualified under section 401(a) or a form defect in a section 403(b) individually designed plan, each arising as a result of a change in requirements that appears in the 2020 required amendments list.
Also, December 31, 2022 is the plan-amendment deadline for a disqualifying provision arising as a result of a change in qualification requirements that appears on the 2020 required amendment list and for a form defect arising as a result of a change in section 403(b) requirements that appears on the 2020 required amendment list.
The IRS notice states that later dates may apply to a governmental plan (as defined in section 414(d)).
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