What Are the Restatement Deadlines for Preapproved Plans?

Q: I read in a recent Ask the Experts column that the restatement deadline for preapproved 403(b) plans is expected to be December 31, 2026. Is the restatement deadline the same for 401(a) and 457(b) plans? We are a public university that sponsors all three plan types.

Kimberly Boberg, Kelly Geloneck, Emily Gerard and David Levine, with Groom Law Group, and Michael A. Webb, senior financial adviser at CAPTRUST, answer:

A: There are different restatement cycles for various plan types. Your 401(a) plan’s deadline, assuming it is a preapproved plan, will be based on the type of plan it is.

If it is a 401(a) defined benefit plan, the next (“Cycle 3”) restatement deadline is March 31, 2025. If it is a 401(a) defined contribution plan, the latest (“Cycle 4”) restatement period has not been announced by the IRS as yet, as that period will not begin until after the IRS reviews the Cycle 4 documents submitted by January 31, 2025.

As for 457(b) plans, there is actually no IRS preapproval process for such plans. Thus, there is neither a restatement requirement nor a restatement deadline.

NOTE: This feature is to provide general information only, does not constitute legal advice and cannot be used or substituted for legal or tax advice.

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