2011 Cumulative List
Rev. 12/29/11; E-mail Alert 2011-17

The 2011 cumulative list was issued as IRS Notice 2011-97. It contains the requirements to be incorporated into Cycle B individually designed defined contribution and defined benefit plans. The Cycle B plans are to be submitted to the IRS for determination letter approval between February 1, 2012 and January 31, 2013.

Items excluded from the review of plans submitted for Cycle B are:

• guidance/statutes issued/enacted after October 1, 2011
• qualification requirements first effective in 2013 or later
• statutory provisions that are first effective in 2012, for which there is no guidance identified in notice 2011-97.

Items issued after October 1, 2011 that are included in this cumulative list are:

• Notice 2011-85 regarding the amending of plans for the hybrid regulations being delayed until at least January 1, 2013.

2011 Cumulative List, New Items for Cycle B Plans

401(a)
Rev. Rul. 2011-1 revises the generally applicable rules for group trusts and, if certain requirements are met, permits the participation in group trusts of custodial accounts under §403(b)(7), retirement income accounts under §403(b)(9), and governmental retiree benefit plans under §401(a)(24). This revenue ruling also modifies the transition relief provided in Rev. Rul. 2008-40.

401(a)(22), 401(a)(28)(C) and 409
Notice 2011-19 provides that the terms readily tradable on an established securities market and readily tradable on an established market mean employer securities that are readily tradable on an established securities market within the meaning of §1.401(a)(35)-1(f)(5) for purposes of §401(a)(22), §401(a)(28)(C), §409(h)(1)(B) and §409(l). Notice 2011-19 is effective for plan years that begin on or after January 1, 2012, except for certain plans that have a delayed effective date.

411(a)(13)
Notice 2011-85 extends the deadline for adopting an interim or discretionary amendment under §411(a)(13) (other than §411(a)(13)(A)).

411(b)(5)
Notice 2011-85 announces that the Treasury Department and the IRS intend to amend the 2010 final hybrid plan regulations to postpone the effective/applicability date of §1.411(b)(5)-1(d)(1)(iii), (d)(1)(vi), and (d)(6)(i) to plan years that begin on or after a date to be specified in those regulations that is not earlier than January 1, 2013. This notice also extends the deadline for adopting an interim or discretionary amendment under §411(b)(5).

431(b)(8)
PRA 2010 §211(a)(2) added §431(b)(8) to the Code, which provides two special funding rules available to multiemployer plans. Notice 2010-83 provides guidance with respect to the special funding rules under §431(b)(8).