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PPA Restatement: You Missed the Deadline, Now What?

October 24, 2016

We all forget about deadlines once in a while, but what happens when you miss the deadline for your PPA Restatement?

April 30, 2016, 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.

Retirement plan documents, including 401(k), Profit Share and Defined Benefit Plan must be revised when the law changes.

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.

Think you missed the PPA Restatement deadline of April 30, 2016?

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.

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