Is the IRS EPCRS SCP working for you?

AuthorWinton, Lisa A.
PositionNews Notes

The Employee Plans Compliance Resolution System (EPCRS) is a comprehensive system of correction programs for sponsors of retirement plans intended to satisfy the requirements of Sec. 401(a), 403(a), 403(b), 408(k) or 408(p), but which have not met those requirements for a period of time.

This correction system allows plan sponsors to correct compliance failures without endangering the qualified status of their plans. EPCRS includes the Self-Correction Program (SCP), the Voluntary Correction Program (VCP) and the Audit Closing Agreement Program (Audit CAP). To find out more about EPCRS, visit www.irs.gov/retirement/...

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