Can someone please explain how the final 401(k) regs effect the safe harbor notice? do you need to include information about specific plan provisions?

The Final K and M regs revised the items that the SH notice can reference in the SPD.
In particular, no longer can the vesting and in-service withdrawal provisions reference the SPD. They must be spelled out in the notice.

that is one of the most rediculous things the IRS has ever done. for service providers that are responsible for 100's of plans it has become more difficult to notify employees.

Is there a site with sample verbage?

I think Corbel's website does.

I believe that was an oversight and IRS, unfortunately, informally, is requesting comments from practitioners to protest this omission.

For those of us that have already sent out our safe harbor notices, should we send out revised ones or not? So much for trying to be efficient.

Good question! The regulations are effective for the 2006 plan year; so,

Option 1: They are not effective for the safe harbor notice, because it is still 2005.

Option 2: They are effective for the safe harbor notice, because it is being issued for the 2006 plan year.

IRS reps at the ASPPA Annual Conference were pretty clear that it is option #2. The regulations apply for the 2006 plan year. That would include the notice given now for the 2006 Plan Year

If you already sent SH notices to clients early, are most of you changing them? The notices we already sent reference the SPD regarding other contributions.

We are resending. Its a pain, but we'd rather be safe.