[14779]
May 31, 2002
TO: PENSION MEMBERS No. 26-02
PENSION OPERATIONS ADVISORY COMMITTEE No. 36-02
RE: IRS ISSUES GUIDANCE ON LATE GUST AMENDMENT FILING PROCEDURES
The Internal Revenue Service has issued Revenue Procedure 2002-35, which establishes
streamlined procedures for plans that failed to be timely amended for “GUST.”1 Under these
procedures, a plan sponsor of an “Eligible Qualified Plan”2 may seek to resolve the failure to
timely amend the plan by filing a complete GUST determination letter application by
September 3, 2002. If the application is filed on or after July 17, 2002, a fee based on the number
of plan participants (in addition to any applicable determination letter user fee) must be
included with the application.
The guidance specifies that these procedures apply to Eligible Qualified Plans in lieu of
the guidance provided in Revenue Procedure 2001-17, which sets forth the rules under the
Employee Plans Compliance Resolution System (EPCRS).3
Revenue Procedure 2002-35 is effective on June 17, 2002.
Thomas T. Kim
Associate Counsel
Attachment (in .pdf format)
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1 As you may recall, the IRS in November 2001 extended the GUST remedial amendment period in Revenue
Procedure 2001-55. See Institute Memorandum to Pension Members No. 34-01 and Pension Operations Advisory
Committee No. 70-01, dated November 15, 2001.
2 An Eligible Qualified Plan is a plan intended to satisfy Code section 401(a) or 403(a) that has not been amended for
GUST within its GUST remedial amendment period and for which an application for a determination letter that
considers all of the requirements of GUST is filed by September 3, 2002.
3 See Institute Memorandum to Pension Members No. 5-01, Pension Operations Advisory Committee No. 9-01 and
Ad Hoc Committee on IRS Group Correction Program, dated January 26, 2001.