On August 3, 2022, the Internal Revenue Service (IRS) issued Notice 2022-33 to extend the deadlines to amend a retirement plan such as qualified 401(a) plans, 403(b) plans, and governmental 457(b) plans; individual retirement arrangement (IRA) for certain provisions of the Setting Every Community Up for Retirement Enhancement Act of 2019 ("SECURE Act") or the regulations thereunder; and section 104 (relating to reduced age for in-service distributions for qualified 401(a) plans and governmental 457(b) plans) of the Bipartisan American Miners Act of 2019 ("Miners Act"). The notice also extends the deadline to amend a retirement plan for the provisions of section 2203 (relating to the 2020 required minimum distribution waiver) of the Coronavirus Aid, Relief, and Economic Security Act of 2020 ("CARES Act"). Notice 2022-33 extends the amendment deadlines, as follows:

For SECURE Act or the Regulations Thereunder and Section 104 of the Miners Act

1. For a qualified plan, in general, the amendment deadlines have been extended, as follows:
   • For a plan (including an applicable collectively bargained plan) that is not a governmental plan within the meaning of section 414(d) of the Internal Revenue Code ("Code"): December 31, 2025.
   • For a qualified governmental plan, within the meaning of section 414(d) of the Code: "90 days after the close of the third regular legislative session of the legislative body with the authority to amend the plan that begins after December 31, 2023."
   • Ice...

Read Full Story: https://www.mondaq.com/unitedstates/retirement-superannuation-pensions/122381...