In Notice 2016-80, the Internal Revenue Service (IRS) provides the Required Amendments List for 2016 (2016 RA List).
June, the IRS issues Revenue Procedure 2016-37, which eliminates, as of
January 1, 2017, the five-year remedial amendment cycle system for
individually designed plans that was set forth in Rev. Proc. 2007-44.
Section 9 of Rev. Proc. 2016-37 provides that the Department of the Treasury and the IRS intend to publish annually an RA List.
general, a change in qualification requirements will not appear on an
RA List until guidance with respect to that change (including, in
certain cases, model amendments) has been provided in regulations or in
other guidance published in the Internal Revenue Bulletin. However, in
the discretion of the Treasury Department and the IRS, a change in
qualification requirements may be included on an RA List in other
circumstances, such as in cases in which a statutory change is enacted
and the Treasury Department and the IRS anticipate that no guidance will
The RA List is divided into two parts. Part A covers
changes in qualification requirements that generally would require an
amendment to most plans or to most plans of the type affected by the
change. Part B includes changes in qualification requirements that the
Treasury Department and the IRS anticipate will not require amendments
in most plans, but might require an amendment because of an unusual plan
provision in a particular plan.
The IRS noted that the fact that
a change in a qualification requirement is included on the RA List does
not mean that a plan must be amended as a result of that change. Each
plan sponsor must determine whether a particular change in a
qualification requirement requires an amendment to its plan.
to section 5.05(3) of Rev. Proc. 2016-37, the notice provides that
December 31, 2018, is the last day of the remedial amendment period with
respect to a disqualifying provision arising as a result of a change in
qualification requirements that appears on the 2016 RA List. However, a
later date may apply to a governmental plan.