On November 14, 2001, the Internal Revenue Service (IRS) issued Revenue Procedure 2001-55, which extends the period for amending qualified retirement plans to comply with GUST and submitting them to IRS for determination letters, to February 28, 2002.

For plans that were "directly affected" by the September 11 terrorist attacks, the extension is to June 30, 2002. A plan is considered to be directly affected if any of the following is located on or below 14th Street in Manhattan:

• The principal place of business of any employer that maintains the plan,
• The office of the plan or the plan administrator;
• The office of the primary recordkeeper serving the plan, or
• The office of an attorney, enrolled actuary, certified public accountant or other advisor retained by the plan (or by the employer with respect to issues involving the plan).

These extensions are available to eligible plans without an individual showing of need. Rev. Proc. 2001-55 says that the IRS will grant further extensions to plans that were directly affected, on an individual basis based on a demonstration that more time is needed due to the after-effects of the September 11 attacks.