Section 5. Effective Date

.01 In general, this revenue procedure is effective for plan years commencing on or after January 1, 1997.

.02 For plan years beginning in 1997, § 4.04(3) of Rev. Proc. 95–51 may be applied as originally issued or as modified by § 4.04 of this revenue procedure.

.03 The modification made by § 4.05 of this revenue procedure to § 5.01(2) of Rev. Proc. 95–51 (Creation of a funding method change base) is effective only for plan years commencing on or after January 1, 1998.

.04 If the funding method for the plan

was changed in accordance with § 4.01 of Rev. Proc. 95–51 (Approval to anticipate scheduled benefit increases) as originally issued and the amortization period for the amortization base established as a result of the method change was 10 years, the plan sponsor may either, (1) retain the 10 year period, or (2) file an amended Schedule B for the year of the change and for any subsequent years reflecting a 30 year amortization period for such base.