The IRS, in Notice 2022-23, announced it has extended most of the deadlines for plan sponsors to adopt formal amendments to qualified retirement plan documents. The new deadline is Dec. 31, 2025. The extension to comply relates to three recent pieces of legislation enacted in recent years. We detail the extensions and the new deadlines for the following relevant laws:
- The Coronavirus Aid, Relief, and Economic Security (CARES) Act
- The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019
- The Bipartisan American Miners Act of 2019 (Miners Act)
Benefits Alert: CARES and SECURE Act plan amendment deadlines extended to 2025
Plan sponsors need to review IRS Notice 2022-33 with scrutiny and check with their plan administrative committees and external business partners to assess how they need to proceed.
Ginny Boggs, Charles Clark