EBP2239. Qualified Plan Corrections

The correction program sponsored by the Internal Revenue Service allows plans with operational or document errors to maintain compliance. With various tentacles to the program, this session will lay out the correction options available, including nuances with the sister programs IRS hosts for voluntary corrections. Presented by the Internal Revenue Service with practitioner input and enhancements for bringing out the nuances, this session will showcase the Employee Plans Compliance Resolution System.

Learning Objectives:

• Distinguish areas where plans have the greatest errors and how the IRS works with the plan sponsor to make corrections when the facts or the proposed correction may be outside the examples within the Revenue Procedure.
• Determine how to use self correction when the plan is chosen for an enforcement examination.
• Analyze, with examples, how a slight change in the facts can change what options may be available in EPCRS.