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Retirement Plan › Employee Plans Compliance Resolution System › Qualified Retirement Plans

Troutman Pepper

Employee Benefits and Executive Compensation: Getting Ready for 2024 - Qualified Plans — Special Edition Podcast

Troutman Pepper on

In the inaugural episode of Troutman Pepper’s three-part Employee Benefits and Executive Compensation podcast miniseries, hosts Lynne Wakefield, Constance Brewster, and Brianna Hourihan discuss recent legislative developments...more

Nelson Mullins Riley & Scarborough LLP

IRS Updates EPCRS Correction Program for Qualified Retirement Plans

Nelson Mullins Riley & Scarborough LLP on

The IRS released Revenue Procedure 2021-30, a new iteration of the Employee Plans Compliance Resolution System (“EPCRS”), on Friday, July 16. EPCRS permits sponsors of eligible tax-qualified retirement plans and 403(b) plans...more

Jackson Walker

Qualified Retirement Plan Correction Program Expanded and Revised

Jackson Walker on

The Internal Revenue Service updated and expanded the ability to correct plan operational and document defects with the new and improved Employee Plans Compliance Resolution System (Rev. Proc. 2021-30) (EPCRS). Issued and...more

Morgan Lewis - ML Benefits

IRS: Show Me the Signatures for Qualified Plan Documents

Morgan Lewis - ML Benefits on

Tax laws have long required that qualified retirement plans timely adopt written plan documents and amendments. But what evidence must a plan sponsor provide to an IRS auditor to prove that they have timely adopted a written...more

Stinson - Benefits Notes Blog

IRS Memorandum Limits Exceptions for Retaining Signed Retirement Plan Documents – (excuse that “my dog ate my plan documents” will...

Stinson - Benefits Notes Blog on

Generally, for a tax qualified retirement plan to be adopted, the plan document must be signed and dated by the sponsoring employer and retained. However, in Val Lanes Recreation Center Corp. v. Commissioner of Internal...more

McGuireWoods LLP

IRS Updates Correction Program for Retirement Plans

McGuireWoods LLP on

The IRS recently issued Revenue Procedure 2016-51 (the 2016 RP) to provide revised procedures for its Employee Plans Compliance Resolution System (EPCRS) – the system through which plan sponsors can correct errors in the form...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

Locke Lord LLP

Locke Lord QuickStudy: IRS Changes Retirement Plan Correction Program (EPCRS)

Locke Lord LLP on

The Internal Revenue Service (IRS) recently issued two revenue procedures that modify the Employee Plans Compliance Resolution System (EPCRS). EPCRS sets forth the various correction programs and correction methodologies for...more

Eversheds Sutherland (US) LLP

IRS Issues Updates to Employee Plans Compliance Resolution System

Eversheds Sutherland (US) LLP on

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

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