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Internal Revenue Service Revenue Procedure 2015-28

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 2)

The IRS has provided significant administrative and monetary relief for plans correcting errors involving employee contributions. The changes to the IRS’s Employee Plans Compliance Resolutions System (EPCRS) are set forth in...more

Sherman & Howard L.L.C.

Effect of a Check Notation: Void After 90 Days

On April 2, 2015, the IRS issued Rev. Proc. 2015-28, which provides new safe harbor correction methods for errors relating to automatic contribution features, including automatic enrollment and automatic escalation of...more

Franczek P.C.

IRS Extends Temporary Coverage/Nondiscrimination Testing Relief for Closed Defined Benefit Plans

Franczek P.C. on

Under guidance issued in Notice 2015-28, the IRS extended relief from certain coverage/nondiscrimination testing requirements for defined benefit plans that have been closed to new participants but provide ongoing accruals...more

Sherman & Howard L.L.C.

New Correction Options for 401(k) and 403(b) Plans

On April 2, 2015, the IRS issued Rev. Proc. 2015-28, which provides new safe harbor correction methods for errors relating to automatic contribution features, including automatic enrollment and automatic escalation of...more

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