News & Analysis as of

Internal Revenue Service Revenue Procedure 2015-27

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
BCLP

IRS Overhauls the Retirement Plan Correction Program

BCLP on

With the looming end of the determination letter program as we know it, the IRS has issued an updated Revenue Procedure for the Employee Plans Compliance Resolutions System (EPCRS). Released on September 29, 2016, Rev. Proc....more

Ogletree, Deakins, Nash, Smoak & Stewart,...

New IRS Qualified Plan Corrections Guidance

The Internal Revenue Service (IRS) issued two rounds of guidance modifying the Employee Plans Compliance Resolution System (EPCRS). The IRS guidance gives employers greater flexibility in correcting relatively common...more

Bradley Arant Boult Cummings LLP

IRS Updates Retirement Plan Correction Procedure (Part 1)

The Internal Revenue Service (IRS) has revised its correction procedures to simplify correction of overpayments in defined benefit plans, make it cheaper to correct plan loan and minimum distribution errors, and provide more...more

Franczek P.C.

IRS Modifies its Voluntary Retirement Plan Correction Procedures (EPCRS)

Franczek P.C. on

Under the IRS’s Employee Plans Compliance Resolution System (EPCRS), retirement plan sponsors may voluntarily request that the IRS approve certain corrections to a variety of plan administration errors before those errors are...more

Eversheds Sutherland (US) LLP

IRS Issues Updates to Employee Plans Compliance Resolution System

In recent weeks, the IRS has issued two updates to its Employee Plans Compliance Resolution System (EPCRS). EPCRS allows plan sponsors to correct many documentary and operational errors that otherwise might jeopardize a...more

Proskauer - Employee Benefits & Executive...

IRS Modifies EPCRS Guidelines, Requests Comments on Overpayment Correction

On March 27, 2015, the Internal Revenue Service (IRS) released Revenue Procedure 2015-27, which modifies, effective July 1, 2015, prior guidelines under the Employee Plans Compliance Resolution System (EPCRS). The IRS...more

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