In Notice 2010-48, the Internal Revenue Service (IRS) provided administrative “relief to sponsors of defined contribution pre-approved plans (i.e., master and prototype (‘M&P’) and volume submitter (‘VS’) plans).” Notice 2010-48 extended the following from April 30, 2010 to July 30, 2010:
- Deadline for restating affected pre-approved defined contribution plans,
- Deadline for submitting determination letters to the Service, and
- The § 401(b) remedial amendment period with respect to these plans.
The notice lists how a plan is considered in an affected area and lists the eight affected areas, all of which received previous relief from the IRS. The areas are the following: