For a prototype sponsor, keeping up with amendment mailings and restatements can be a complicated and time-consuming process. Ascensus can take the administrative burden of being a prototype sponsor off of your shoulders.
When you sign up for the Document Compliance Service, Ascensus will work directly with your clients for all amendment mailings and restatements. During the year, the Document Compliance Service covers all amendments the IRS requires during the year as well as complete restatement services every six years.
Important news about the PPA restatement process
The IRS requires employers to restate their defined contribution prototype qualified retirement plan (QRP) documents as part of the current six-year restatement cycle by April 30, 2016. As the prototype sponsor of retirement plan documents, much of the responsibility for completing the restatement falls on you. Ascensus can help your organization restate its entire block of existing QRPs with our comprehensive PPA Restatement Services.