The Internal Revenue Service (the “IRS”) has issued Notice 2010-90 (the “Notice”), which contains the 2010 Cumulative List of Changes in Plan Qualification Requirements (the “2010 Cumulative List”). This list identifies statutory, regulatory, and guidance changes that must be taken into account by plan sponsors and practitioners, when submitting determination, opinion, or advisory letter applications for plans during the period beginning February 1, 2011 and ending January 31, 2012. These plans will primarily be:
–single employer, individually designed defined contribution plans (including ESOPS) and defined benefit plan which are in Cycle A (the last digit of the employer identification number of the plan sponsor is 1 or 6); and
–defined contribution pre-approved plans (that is, defined contribution plans that are master and prototype (M&P) or volume submitter (VS) plans) for the second submission under the remedial amendment cycle of Rev. Proc. 2007-44.
The list of the changes contained in section IV of the Notice does not extend the deadline by which a plan must be amended to comply with any statutory, regulatory, or guidance changes. These deadlines may generally be found in section 5.05 of Rev. Proc. 2007. For the plans described above, the IRS will accept the applications for the period which starts on February 1, 2011 and which ends on January 31, 2012, except that applications for mass submitters and national sponsors of pre-approved plans must be filed by October 31, 2011.