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IRS Clarifies Amendment Deadlines Under SECURE 2.0

The Internal Revenue Service (IRS) issued a bulletin responding to stakeholder requests for clarification regarding the deadline for adopting plan amendments implementing SECURE and SECURE 2.0 provisions. Specifically, stakeholders inquired whether the deadlines set forth in Notice 2024-2 (generally December 31, 2026), or the deadlines set forth in an applicable required amendments list were applicable. The IRS stated that the answer depends on whether the plan amendment relates to a required or discretionary amendment.

With regard to required amendments, the IRS noted the following.

  • In accordance with Revenue Procedure 2022-40, the remedial amendment period for a required amendment is generally the last day of the second calendar year following the calendar year in which the amendment is adopted or effective (whichever is later).

  • Further, the remedial amendment period for a disqualifying provision arising from a change in qualification requirements generally expires on the last day of the second calendar year that begins after the issuance of the required amendment list which includes the change.

  • The bulletin listed the following SECURE and SECURE 2.0 items that are pending final regulations and have not yet appeared on a remedial amendment list:

    • Automatic enrollment requirements imposed by section 101 of SECURE 2.0.

    • Long-term part-time requirements imposed by section 125 of SECURE and section 112 of SECURE 2.0.

    • Required minimum distribution requirements imposed by SECURE and SECURE 2.0 provisions that have not already appeared on a required amendment list.

With regard to discretionary amendments, the IRS provided the following insight.

  • A statutory provision that permits, but does not require, a plan feature will not itself appear on a required amendment list, and the deadline for discretionary amendments is generally the last day of the plan year in which the discretionary provisions are operationally put into effect under the plan.

  • Notice 2024-2 extends the deadline for SECURE and SECURE 2.0 discretionary amendments until December 31, 2026 (with later deadlines for applicable collectively bargained plans, governmental plans, and section 403(b) plans maintained by a public school).

The Treasury Department and the IRS expect to include language in the 2026 RA List clarifying the deadlines for SECURE and SECURE 2.0 required and discretionary plan amendments in a manner consistent with this bulletin.