Earlier this year, the Internal Revenue Service (IRS) issued Notice 2022-23, which extended the deadline to make certain amendments pursuant to the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, the Bipartisan American Miners Act of 2019 (Miners Act), and the Coronavirus Aid, Relief, and Economic Security (CARES) Act to December 31, 2025. In September, the IRS then issued Notice 2022-45, which expanded the scope of relief provided by Notice 2022-23 to include amendments for optional provisions under the CARES Act (e.g., coronavirus-related distributions and plan loan changes) and changes pursuant to the Taxpayer Certainty and Disaster Relief Act of 2020.
The chart below includes the updated deadlines for any amendments required by the acts listed above. Importantly, the notices do not extend the amendment deadline applicable to nongovernmental section 457(b) plans (i.e., certain nonqualified plans sponsored by tax-exempt employers), so plan sponsors should consider reviewing their plans to determine whether there are any required changes prior to December 31, 2022 (for calendar-year plans).