IRS issues 2017 required amendments list for individually designed plans

The IRS has released the 2017 Required Amendments List for individually designed qualified retirement plans. The list identifies certain changes in qualification requirements that became effective in 2017 that may require a retirement plan to be amended in order to remain qualified.
In Rev. Proc. 2016-37, the IRS modified its procedures for the determination letter program for qualified plans to eliminate the five-year remedial amendment cycle system for individually designed plans, effective January 1, 2017, and replaced it with a new approach to the remedial amendment period. Thus, beginning January 1, 2017, the interim amendment requirement will no longer apply to individually designed plans. For disqualifying provisions that arise as a result of a change in qualification requirements, the IRS will publish annually a Required Amendments (RA) List, which will establish the deadline for a plan to be amended. The deadline for amendments will be, unless otherwise provided, the end of the second calendar year following the year in which the list is issued.

Remedial amendment period/plan amendment deadline

Pursuant to Rev. Proc. 2016-37, December 31, 2019 is the last day of the remedial amendment period with respect to a disqualifying provision arising as a result of a change in qualification requirements that appears on the 2017 RA List and is also the plan amendment deadline for a disqualifying provision arising as a result of a change in qualification requirements that appears on the 2017 RA List. However, a later date may apply to a governmental plan (as defined in Code Sec. 414(d)).

Organization of RA List

The RA List is divided into two parts: Part A and Part B. Part A covers changes in qualification requirements that generally would require an amendment to most plans or to most plans of the type affected by the change. Part A includes final regulations concerning cash balance/hybrid plans and benefit restrictions for certain defined benefit plans that are eligible cooperative plans or eligible charity plans described in Section 104 of the Pension Protection Act of 2006.
Part B includes changes in qualification requirements that the Treasury Department and the IRS anticipate will not require amendments in most plans, but might require an amendment because of an unusual plan provision in a particular plan. Part B includes final regulations regarding partial annuity distribution options for defined benefit plans.
The IRS notes that the fact that a change in a qualification requirement is included on the RA list does not mean that a plan must be amended as a result of that change. Each plan sponsor must determine whether a particular change in a qualification requirement requires an amendment to its plan.

Source: IRS Notice 2017-72.
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