Interim Amendment Rules

Under IRS Revenue Procedure (Rev. Proc.) 2023-37, the interim amendment rules now state that, if an adopting employer does not correct a failure to timely adopt an interim amendment within two years after the period set forth in Section 7 of Rev. Proc. 2023-37, then the adopting employer’s plan will be treated as an individually designed plan at the end of that two-year period. 

The interim amendment deadline now matches the individually designed plan remedial amendment period deadline.