Eight states ripped by the recent round of severe storms will get a reprieve from the IRS on 401(k) and other related deadlines.
According to IRS notice 2010-48, the IRS has extended the deadline for restating affected pre-approved defined contribution plans and, if applicable, for submitting determination letters to the IRS to July 30 for Alabama, Connecticut, Massachusetts, Mississippi, New Jersey, Rhode Island, Tennessee and West Virginia declared Presidential Disaster Areas. The section 401(b) remedial amendment period for these retirement plans has also been extended to the same date. The previous deadline was April 30.
An affected plan is eligible for the deadline extension only if the following locations relating to the plan were in the federally declared disaster areas at the time of the disasters:
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