Eligibility for Retroactive Correction

To be eligible for retroactive correction, an employer must have adopted its 403(b) plan in accordance with the applicable IRS deadline: 

• For the first remedial amendment period, which closed on June 30, 2020: an employer that had timely adopted its 403(b) plan document by Dec. 31, 2009 was able to correct 403(b) plan document provisions to align with the IRS rules retroactive to Jan.1, 2010. 
• For the second remedial amendment period (which the IRS has not yet opened): an employer that had timely adopted its 403(b) plan document by June 30, 2020 will be able to correct 403(b) plan document provisions to align with the IRS rules retroactive to July 1, 2020.