It is rare that anything released by the IRS elicits a response of “We celebrate tonight!”, but it happened today with Announcement 2012-3. At 11:31am ET today, Dec. 22, 2011, the IRS extended the deadline to submit defined contribution opinion/advisory letter applications from Jan. 31, 2012 to April 2, 2012.
For those of us writing PPA restatement specimen plan documents, it means more time to wrestle with the 2011 DC LRMs, and that our families will see more of us over the holidays. For my staff, it also means that we are now closed on Monday, Dec. 26th.
For the rest of the industry, it means more time to contemplate Announcement 2011-82. If you missed Announcement 2011-82, released last Friday, I’ll have more about it tomorrow. Right now, I’m headed out to pick up a tray from the deli.