IRS Issues Required Amendments List
The IRS has released Notice 2021-64 containing the 2021 required amendments list. This annually issued list describes changes in retirement plan qualification requirements and amendment deadlines for individually designed qualified and individually designed 403(b) plans. Some items require plans to be amended, while others do not. The list of changes to qualification requirements are as follows.
Required Amendments
Multiemployer plans that had amended to reduce benefits and to begin receiving special financial assistance for financially troubled plans pursuant to the American Rescue Plan Act of 2021 must amend to reinstate benefits previously suspended as of the first month in which the effective date for the special financial assistance occurs.
