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On June 3, 2022 the Internal Revenue Service ("IRS") announced a pilot audit program and has already issued notices to retirement plan sponsors.
Retirement plan sponsors should be aware of a new Internal Revenue Service (IRS) pilot program, which permits plan sponsors to conduct a pre-examination “check-up” of retirement plan...
Starting this month, plan sponsors may be notified by letter that their retirement plan has been selected for an examination.
Retirement plan sponsors should be aware of a new Internal Revenue Service IRS pilot program, which permits plan sponsors to conduct a pre-examination check-up of retirement plan administration before the IRS begins a plan examination.
Under the IRS Employee Plans Compliance Resolution System (EPCRS), as set forth in Revenue Procedure 2021-30, a plan that has been notified of an impending audit cannot remedy issues...