Regulatory Updates
Regulatory Updates provide quick access to employee benefit regulations, rulings and other guidance released by governmental agencies in the U.S. and Canada.
New updates to this page may be included in Today’s Headlines which is emailed to International Foundation members each business day. Inquiries regarding these updates should be directed to the Benefits Knowledge Center at the International Foundation at (888) 334-3327, option 5 or [email protected].
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IRS Publishes 2023 Cumulative List of Changes in Plan Qualification Requirements for Defined Contribution Qualified Pre-approved Plans
The Internal Revenue Service (IRS) published Notice 2024-3 which includes the 2023 Cumulative List of Changes in Plan Qualification Requirements for Defined Contribution Qualified Pre-approved Plans (2023 Cumulative List). The 2023 Cumulative List will assist providers applying to the IRS for opinion letters for the fourth remedial amendment cycle (Cycle 4) for defined contribution qualified pre-approved plans under the IRS’s pre-approved plan program. Cycle 4 began on February 1, 2023.
The 2023 Cumulative List identifies recent changes in the qualification requirements of the Internal Revenue Code (IRC) that were not taken into account during the first three remedial amendment cycles for defined contribution qualified pre-approved plans and that will be taken into account by the IRS with respect to the form of a plan submitted to the IRS for Cycle 4.
The Cycle 4 submission period begins on February 1, 2024, and ends on January 31, 2025.