401K Plan Administrators Run Into Retirement Plan Loan Errors
The IRS’s Employee Plans Compliance Resolution System EPCRS correction program offers plan sponsors means to correct various operational errors, including plan loan errors. Before 2019, plan loan failures had to be corrected using the EPCRSs voluntary compliance program VCP.
United States Compliance Check Plan Loan Internal Revenue Code Plans Compliance Resolution System Code Section
Source: natlawreview.com