The procedure affects master and prototype (M&P) plans and volume submitter plans. It modifies and supersedes Rev. Proc. 2005-16. For M&P plans, the procedure makes several changes, such as revising some definitions, clarifying the effect of employer amendments, and changing areas not covered. For volume submitter plans, the procedure clarifies language on the 30-employer requirement and authority to make amendments to the plan.
Revenue Procedure 2011-49 will appear in Internal Revenue Bulletin 2011-44 on Oct. 31, and is available here.