New Ways to Self-Correct Overpayments Under EPCRS

Posted on: October 8, 2021 By:

On July 16, 2021, IRS issued Revenue Procedure 2021-30 to update the Employee Plans Compliance Resolutions System (the “EPCRS”).  The update in part expands the opportunities for plan sponsors to self-correct failures under the EPCRS by:  (1) extending the self-correction … Continue reading →

Posted in Employee Benefits, Qualified Retirement Plans | Tagged , ,

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To Err is Human – To Forgive is Up to the IRS in Rev Proc 2019-19

Posted on: May 7, 2019 By:

The IRS recently issued its latest version of the Employee Plans Compliance Resolution System (“EPCRS”) in Rev. Proc. 2019-19.  The EPCRS is the IRS program that assists employers in correcting both operational and document failures with respect to qualified retirement … Continue reading →

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IRS Updates Retirement Plan Correction Procedures

Posted on: October 15, 2018 By:

On September 28, 2018, the IRS released Revenue Procedure 2018-52. The Revenue Procedure makes changes to the IRS Employee Plans Compliance Resolution System (“EPCRS”), which is the IRS’ comprehensive correction program for qualified retirement plans.  The primary purpose of the Revenue Procedure … Continue reading →

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IRS Provides Relief for Correction of Elective Deferral Mistakes in 401(k) Plans

Posted on: April 10, 2015 By:

The IRS recently announced changes that make it significantly easier to correct employee deferral mistakes (also known as elective deferrals) in qualified retirement plans.  The changes make modifications to the IRS’ Employee Plans Compliance Resolution System (“EPCRS”), which is the … Continue reading →

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