Page:Notice 2022-45.pdf/1

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Notice 2022-45


I. PURPOSE

This notice extends the deadline for amending an eligible retirement plan (including an individual retirement arrangement (IRA) or annuity contract) to reflect the provisions of section 2202 of the Coronavirus Aid, Relief, and Economic Security Act, Pub. L. 116-136, 134 Stat. 281 (2020) (CARES Act), and section 302 of Title III of the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (Relief Act), enacted as Division EE of the Consolidated Appropriations Act, 2021, Pub. L. 116-260, 134 Stat. 1182. Among other things, section 2202 of the CARES Act and section 302 of the Relief Act provide special tax treatment with respect to a coronavirus-related distribution or a qualified disaster distribution, respectively.

Under this notice, the extended amendment deadline applicable to (1) a qualified retirement plan or section 403(b) plan that is not a governmental plan or (2) an IRA is December 31, 2025. Later deadlines apply with respect to governmental retirement plans (including governmental plans under section 457(b) of the Internal Revenue Code (Code)). With respect to an amendment made to reflect provisions of section 2202 of the CARES Act, the period during which the amendment is eligible, if applicable, for relief from the anti cutback requirements of section 411(d)(6) of the Code or section 204(g) of the Employee Retirement Income Security Act of 1974, Pub. L. 93-406, 88 Stat. 829, as amended (ERISA), is extended to the applicable extended plan amendment deadline.[1]

II. BACKGROUND

A. Section 2202 of the CARES Act

Under section 2202 of the CARES Act, enacted on March 27, 2020, and modified by section 280 of the COVID-related Tax Relief Act of 2020,[2] qualified individuals receive favorable tax treatment with respect to coronavirus-related distributions from

  1. ↑ Notice 2022-33, 2022-34 IRB 147, extends the deadlines for amending a retirement plan or IRA to reflect certain provisions of Division O of the Further Consolidated Appropriations Act, 2020, Pub. L. 116-94, 133 Stat. 2534 (2019), known as the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act), and section 104 of Division M of the Further Consolidated Appropriations Act, 2020, known as the Bipartisan American Miners Act of 2019 (Miners Act), and extends to the extended plan amendment deadline the period during which an amendment to reflect provisions of the SECURE Act is eligible, if applicable, for relief from the anti-cutback requirements of section 411(d)(6) of the Code or section 204(g) of ERISA. Notice 2022-33 also extends the deadline for amending a retirement plan to reflect the provisions of section 2203 of the CARES Act. The deadlines set forth in this notice are the same as the deadlines set forth in Notice 2022-33. Accordingly, it is anticipated that amendments to reflect the CARES Act and Relief Act as described in this notice, as well as the SECURE Act, Miners Act, and CARES Act amendments described in Notice 2022-33, may be adopted on a single date.
  2. ↑ The COVID-related Tax Relief Act of 2020 was enacted as Subtitle B, Title II, Division N, of the Consolidated Appropriations Act, 2021. References in this notice to section 2202 of the CARES Act are to section 2202 as modified.
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