Less than a year to mandatory 403(b) Restatement

With May here, plan sponsors and plan provider may not be aware of an Internal Revenue Service (IRS) deadline that isn’t that far off. All organizations that sponsor 403(b) retirement plans must restate their plan documents by March 31, 2020, using either the IRS’s pre-approved document or an individually designed plan document.

Whether you sponsor a plan or have a client that does, don’t let them wait until the last minute to restate since a late restatement will require submission to the IRS voluntary compliance program.

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