Correcting Qualified Plan Errors Under EPCRS | Practical Law

Correcting Qualified Plan Errors Under EPCRS | Practical Law

A Note explaining the Employee Plans Compliance Resolution System (EPCRS) in Revenue Procedure 2021-30, a correction program established by the Internal Revenue Service (IRS) that plan sponsors of retirement plans can use to correct plan document and administrative errors to maintain the tax-qualified status of these plans. The Note also explains the expansion of self-correction options under the SECURE 2.0 Act.

Correcting Qualified Plan Errors Under EPCRS

Practical Law Practice Note 7-513-5477 (Approx. 35 pages)

Correcting Qualified Plan Errors Under EPCRS

by Andy Wang and Katherine Costello, Wang Austin LLC with Practical Law Employee Benefits & Executive Compensation
MaintainedUSA (National/Federal)
A Note explaining the Employee Plans Compliance Resolution System (EPCRS) in Revenue Procedure 2021-30, a correction program established by the Internal Revenue Service (IRS) that plan sponsors of retirement plans can use to correct plan document and administrative errors to maintain the tax-qualified status of these plans. The Note also explains the expansion of self-correction options under the SECURE 2.0 Act.