Revenue Procedure 2002-73 extends the GUST remedial amendment period for Prototype and Volume Submitter plans to the later of September 30, 2003, or the end of the twelve month period after the date on which the IRS issued a GUST opinion or advisory letter for the pre-approved plan.

On April 17, 2002, Treasury issued final regulations (“Final Regs”) on required minimum distributions (“RMDs”) under Code Section 401(a)(9). These regulations finalize many of the rules proposed in 2001 (“2001 Regs”), which simplified the prior proposed regulations issued in 1987 (“1987 Regs”).

The Final Regs contain several important changes, including new tables to determine the amount of the RMDs. The Final Regs are effective for calendar years beginning on or after January 1, 2003. For 2002, RMDs may be calculated using the 1987 Regs, the 2001 Regs, or the Final Regs.