What Happens When the PPA Restatement Deadline is Missed?
April 30th was the deadline for employers using pre-approved retirement plan documents to adopt, via a PPA Restatement, an updated version of their 401(k), profit-sharing or other defined contribution retirement plans.
How Often Do PPA Restatements Occur
Every 5 to 6 years, the IRS requires all retirement plans to amend and restate retirement plan documents, regardless of document amendments or restatements during that same time period. The most recent IRS mandated retirement plan document restatement is referred to as the PPA Restatement.
Not Sure if You Completed the PPA Restatement Requirement?
LRS has you covered. We will review the retirement plan legal documents you have readily available and work with your service providers to determine if you adopted new and revised retirement plan legal documents by the IRS deadline of April 30, 2016.
Miss the PPA Restatement Deadline?
Not a problem. We can amend and restate your retirement plan legal documents to meet the PPA Restatement requirements. We will take you and your retirement plan through the IRS approved correction program.
If you are looking for more tips and information about retirement plans, don't hesitate to get in contact.
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