Stay updated with breaking news from Self Correction Program. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Employers will have the opportunity to review and self-correct retirement plan failures upon being identified for plan examination by the Internal Revenue Service IRS. If any failures are identified follow the IRS’s Employee Plans Compliance Resolution System EPCRS guidance
In the June 3 issue of Employee Plans News, the Internal Revenue Service announced a pilot program to give employers whose qualified retirement plans have been selected for audit a...
The IRS announced in its June 3 Employee Plans Newsletter a new 90-day Pre-Examination Compliance Pilot Program. Under the program, which is in effect, the IRS will notify an employer...
IRS is establishing a new pre-examination retirement plan compliance program beginning this month. The letter will give the plan sponsor a 90-day window to review its plan documents and operations to determine if they meet current tax law requirements.
Failing to issue required minimum distributions can be costly, so sponsors must follow exact steps from the IRS and DOL to locate missing participants.