GUST restatement


An IRS requirement for businesses offering certain retirement savings plans, such as 401(k)s, to revise their plan documents and re-file them. The purpose of this restatement of plan policies and procedures was to bring them into written compliance with several new IRS regulations impacting the administration of retirement plans. Most organizations with employer sponsored plans were required to send in amended Adoption Agreements under GUST guidelines prior the end of 2002.

Use GUST restatement in a sentence

You may want to try and figure out a way to get a gust restatement if that will be the best way for you to proceed.

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The GUST restatement was part of the deal with having our company located in america as we always complied with the government.

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There was definite grumbling in the offices when we got our GUST restatement notice, even though we all expected it was coming.

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