News & Analysis as of

Revenue Procedures Employee Benefits 403(b) Plans

Miller Canfield

Individually Designed 403(b) Plans will be Eligible for Determination Letters

Miller Canfield on

​​​​​​​Plan sponsors of individually designed 403(b) plans will soon be able to submit determination letter applications to the IRS. (Individually designed plans are plans using custom documents that have not been preapproved...more

Stinson LLP

IRS Releases Revised Employee Plans Compliance Resolution System

Stinson LLP on

On Friday, July 16, 2021, the Internal Revenue Service (IRS) published the most recent revision to the Employee Plans Compliance Resolution System (EPCRS) in Revenue Procedure 2021-30. Revenue Procedure 2021-30 supersedes and...more

King & Spalding

Compensation and Benefits Insights – June 2019

King & Spalding on

On April 19, 2019, the Internal Revenue Service (“IRS”) released Revenue Procedure 2019-19 (the “Revenue Procedure”) and a separate IRS Release (the “Release”) updating the Employee Plans Compliance Resolution System...more

Holland & Knight LLP

IRS Adds 2019 Updates to Operational Compliance List

Holland & Knight LLP on

• The Internal Revenue Service (IRS) has updated its Operational Compliance List for retirement plans with a number of changes that take effect in 2019, with a focus on changes to hardship distributions. • The Operational...more

Proskauer - Employee Benefits & Executive...

A Good 403(b) or a Bad 403(b)? A Question IRS Auditors Look to Answer

In each case, the answer depends on whether the document and operation are in compliance with the many technical requirements for section 403(b) plans. IRS officials have recently indicated that the IRS expects to launch...more

Bradley Arant Boult Cummings LLP

New Fixer Upper Options for Retirement Plans: IRS Expands the EPCRS Self-Correction Program - Employee Benefits Alert

In Revenue Procedure 2019-19, the Internal Revenue Service (IRS) significantly expanded the availability of the Self-Correction Program (SCP) that plan sponsors may use to self-correct failures in their qualified retirement...more

Brownstein Hyatt Farber Schreck

IRS Expands Self-Correction of Retirement Plan Errors

In guidance issued on April 19, 2019, the IRS expands the situations in which retirement plan sponsors can self-correct compliance failures without first having to seek IRS approval or paying a fee. Employers should be aware...more

Bricker Graydon LLP

IRS expands Self-Correction Program

Bricker Graydon LLP on

Last week, the Internal Revenue Service (IRS) expanded opportunities to use the Self-Correction Program (SCP), permitting Plan Sponsors to correct certain Plan Document Failures and plan loan failures....more

Bradley Arant Boult Cummings LLP

IRS Updates EPCRS Plan Correction Procedure - Employee Benefits Alert

Through Revenue Procedure 2018-52, the Internal Revenue Service (IRS) has recently updated its system of correction programs for retirement plans known as the Employee Plans Compliance Resolution System (EPCRS). EPCRS permits...more

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