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.