NU Online News Service, Feb. 15, 5:32 p.m. – The Internal Revenue Service has released a special edition of its Employee Plans News newsletter for sponsors of retirement plans affected by GUST.
GUST is a complicated set of changes in retirement plan regulations linked to a variety of trade agreements, federal laws and federal regulations. Because of the changes, many sponsors of 401(k) plans, Keogh plans, defined benefit retirement plans and other plans must file amendments of their plans with the IRS by Feb. 28.
The IRS newsletter gives a description of procedures for complying with the GUST filing deadline; a description of common errors to avoid; and several pages of answers to frequently asked questions.
The IRS has posted the newsletter on its Web site, at http://www.irs.gov/pub/irs-utl/se202.pdf