The IRS has released new Forms 8950 and 8951. Under new employee plans compliance resolution system (EPCRS) procedures, all voluntary correction program (VCP) applications submitted to the IRS on or after April 1, 2013 must include these completed forms (though plan sponsors submitting VCP applications anytime on or after December 31, 2012 may use these new foms).
On January 18, 2013, the IRS released new Forms 8950 and 8951, which must be used by plan sponsors submitting voluntary correction program (VCP) applications to the IRS. (Previously, the IRS published these forms in draft for information purposes only.) Under new employee plans compliance resolution system (EPCRS) procedures set out in Revenue Procedure 2013-12, all VCP applications submitted on or after April 1, 2013 must include these completed forms. However, plan sponsors submitting VCP applications anytime on or after December 31, 2012 may use these new forms and the new submission procedures under EPCRS.