RP-2021-37 & RP-2021-38: Pre-approved pension plans

01 Sep 2021 2:24 PM | Anonymous

Revenue Procedure 2021-37 sets forth the procedures of the IRS for issuing opinion letters regarding the satisfaction in form of § 403(b) pre-approved plans with respect to the requirements of § 403(b) of the Internal Revenue Code for the second remedial amendment cycle (Cycle 2).  This revenue procedure also sets forth the rules for determining when remedial amendment periods expire for § 403(b) pre-approved plans.

Revenue Procedure 2021-38 modifies Rev. Proc. 2016-37 to extend the deadline for adopting an interim amendment for a § 401(a) pre-approved plan to match the deadline for adopting an interim amendment for a § 403(b) pre-approved plan, which is set forth in Rev. Proc. 2021-37 (issued simultaneously).

Revenue Procedure 2021-37 & Revenue Procedure 2021-38 will be in IRB:  2021-38, dated 09/20/2021.

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