88. Additional adoption agreement requirements

Statement of Requirement: Rev. Proc. 2017-41, secs. 5.10, 5.11 2023-37, 9.02(6), (8), and (9) Document Provision: _____

This adoption agreement may only be used in conjunction with basic plan document #_____.

(Note to reviewer: Plans cannot include blanks or fill-in provisions for the employer to complete, unless the provisions have parameters that preclude the employer from completing the provisions in a manner that could violate the qualification requirements.)

(Note to reviewer: Each adoption agreement must contain language which complies with the following requirements:

(1) The adoption agreement must include the name, address and telephone number

of the Provider or the Provider’s authorized representative.

(2) The adoption agreement must contain a statement describing the limitations on

employer reliance on an Opinion Letter and that the failure to properly fill out the adoption agreement may result in disqualification of the plan.

(3) The adoption agreement must contain a statement that the Provider will inform

the Adopting Employer of any amendments made to the plan or of the discontinuance or abandonment of the plan.

(4) The employer must complete a new adoption agreement upon first adoption of

the plan. Additionally, upon any modification to a prior election, making of new elections, or restatement of the plan, a new adoption agreement or signature page and plan document must be completed.

(5) The adoption agreement must contain a dated employer signature line.

The above signature requirement may be satisfied by an electronic signature that reliably authenticates and verifies the adoption of the adoption agreement, or restatement, amendment, or modification thereof, by the employer.)