CLIENT ALERT: IRS Updates and Expands its Employee Plans Correction Program
April 22, 2019 – The Internal Revenue Service released Revenue Procedure 2019-19, reflecting the latest update to the Employee Plans Compliance Resolution System (“EPCRS”). EPCRS is a set of procedures that allow plan sponsors to correct qualification failures in their tax-qualified retirement plans. The attached Client Alert summarizes the key changes to EPCRS that will allow employers greater latitude and flexibility to self-correct common plan failures without the need to go through a lengthy and costly IRS filing process.
PDF of Client Alert: CLIENT ALERT: IRS Updates and Expands its Employee Plans Correction Program