In response to the continued administrative difficulties due to
the COVID-19 pandemic, recent Internal Revenue Service (IRS)
guidance extends additional retirement plan deadlines for 2020.
In response to the administrative difficulties faced by plan
administrators due to the ongoing COVID-19 pandemic, the Internal
Revenue Service (IRS) recently issued Notice 2020-35, which extends
additional retirement plan deadlines for 2020 not previously
extended under IRS Notice 2020-23. The IRS also stated that this
relief applies for purposes of ERISA if the tax code deadline has a
corresponding ERISA provision.
Adoption of Pre-Approved Defined Benefit Plan
The April 30, 2020, deadline to adopt a pre-approved pension
plan and submit a Form 5307 determination letter application under
the second six-year remedial amendment cycle is extended to July
31, 2020.
