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.
Related information about GUST restatement:
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Definition of GUST restatement: An IRS requirement for businesses offering certain retirement savings plans, such as 401(k)s, to revise their plan documents and ...
- GUST Restatement - Financial Dictionary - The Free Dictionary
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- memorandum - Internal Revenue Service
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