If you have a pre-approved profit-sharing, 401(k) or other defined contribution plan, your two-year window to adopt a newly updated pre-approved plan ends on July 31, 2022. If you miss the deadline, additional corrective steps will be needed. For our previous alert on this topic, please click here.
Publications IRS Provides Guidance for Late Pre-Approved Plan Restatements Groom PublicationJune 1, 2022