Notice 2010-48:Relief to Sponsors of Pre-Approved Defined Contribution Plans

Notice 2010-48 provides relief to sponsors of defined contribution pre-approved plans (i.e., master and prototype (“M&P”) and volume submitter (“VS”) plans) affected by recent federally declared disasters (as defined in § 165(h)(3)(C)(i) of the Internal Revenue Code (the “Code”)).  The relief provided by this notice extends to July 30, 2010, the April 30, 2010,  deadline for restating affected pre-approved defined contribution plans and, if  applicable,  for submitting determination letters to the Service. The § 401(b) remedial amendment period with respect to these plans is also extended to July 30, 2010.  The relief provided by this notice is in addition to the relief already provided by the Internal Revenue Service (IRS) to those affected by the federally declared disasters  identified in this notice.