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April 22, 2019 News

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