SECTION 21. EFFECTIVE DATE

This revenue procedure is effective February 7, 2000.

M&P plan or a volume submitter specimen plan may have modified the plan in a such a way that the plan, as adopted by the employer, would not be considered an M&P plan or a volume submitter plan. Nevertheless, for purposes of this section, such a plan will be treated as an M&P or volume submitter plan and will be eligible for the remedial amendment period extension provided by this section. For example, an employer may have adopted an individually designed GUST-related amendment to an M&P plan that would have caused the plan to be considered an individually designed plan under section 5.02 of Rev. Proc. 89–9. Despite the individually designed amendment, the plan will be treated as an M&P plan for purposes of this section.

.07 No Extension Where M&P Plan Sponsor or Volume Submitter Practitioner Fails to Make Timely Request for GUST Opinion or Advisory Letter - If an employer’s plan would otherwise be eligible for the extension described in subsection .04, but the M&P sponsor or volume submitter practitioner fails to submit an application for a GUST opinion or advisory letter by December 31, 2000, the remedial amendment period for the employer’s plan will not be extended.

.08 Information To Be Submitted with Determination Letter Application An employer that avails itself of the extension provided by this section must include with its determination letter application either evidence of adoption, before the expiration of the remedial amendment period (determined without regard to this section), of an M&P or volume submitter specimen plan or a copy of the certification described in subsection .032.

.09 Discretionary Extensions - If an M&P sponsor or volume submitter practitioner determines that the extension of the remedial amendment period provided by this section does not allow sufficient time for employers to adopt the sponsor’s or practitioner’s GUST-approved M&P or volume submitter specimen plan and, if required for reliance, request determination letters, the sponsor or practitioner may request a further extension. At its discretion, the Service may grant such a further extension.

Among the factors that the Service will consider in determining whether a further extension will be granted are whether the sponsor or practitioner has taken reasonable steps to ensure that the process of restating employers’ plans for GUST is completed as promptly as possible, whether substantial hardship to employers or the sponsor or practitioner would result if such an extension were not granted, whether such an extension is in the best interests of plan participants, and whether the granting of the extension is adverse to the interests of the Government. Requests for a further extension should be addressed to the Commissioner, Tax Exempt and Government Entities Division, P.O. Box 14073, Ben Franklin Station, Washington, D.C. 20224, Attention: T:EP:RA:T:ICU. However, the Service will not accept requests for a further extension before the later of December 31, 2000, or the date of issuance of a GUST opinion or advisory letter with respect to the sponsor’s or practitioner’s M&P or volume submitter specimen plan.

.10 Required Amendments for Plans with Extended Reliance on TRA ‘86 Letters - Under Rev. Proc. 89–9, Rev. Proc. 89–13 (both as modified by Rev. Proc. 93–9, 1993–1 C.B. 474), Rev. Proc. 93–39, 1993–2 C.B. 513, Announcement 94–85, 1994–26 I.R.B. 23, and Rev. Proc. 95–12, 1995–1 C.B. 508, plans that were submitted to the Service within certain deadlines for determination, opinion, or notification letters under TRA ‘86 and received favorable letters were entitled to extended reliance. During the extended reliance period, a plan generally was not required to comply in operation with or be amended for regulations or administrative guidance of general applicability issued after the date of the plan’s letter which interpret the qualification requirements in effect when the letter was issued. As modified by Rev. Proc. 99–23, the extended reliance period continued until the earlier of the last day of the last plan year commencing prior to January 1, 2000, or the date established for plan amendment by any legislation effective after the date of the plan’s letter. As further provided in Rev. Proc. 99–23, a plan with extended reliance must be amended by the last day of the first plan

2000–6 I.R.B. 571 February 7, 2000