How to Avoid and Fix Mistakes With Retirement Plans
Last Updated March 7, 2009
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Revenue Procedure 2008-50 : Revised Voluntary Correction Program (VCP) for Retirement Plans from the IRS. See also the Redlined version from Gary lesser. This revenue procedure is generally effective January 1, 2009. However, Plan Sponsors are permitted, at their option, to apply the provisions of this revenue procedure on or after September 2, 2008.
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Video from IRS: Fixing Plan Mistakes Found During an IRS Audit : These videos provide useful information to help retirement plan sponsors choose and operate their plans and to help participants ensure their retirement benefits are protected. Participants will also learn more about the value of plans as a way to save for retirement
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Video from IRS: Self-Correction of Qualified Retirement Plan Mistakes :These videos provide useful information to help retirement plan sponsors choose and operate their plans and to help participants ensure their retirement benefits are protected. Participants will also learn more about the value of plans as a way to save for retirement. )
- Retirement Plans FAQs regarding the Self-Correction Program (SCP)
Insights into the Self-Correction Program (SCP) set forth by the Employee Plans Compliance Resolution System (EPCRS).
- Retirement Plans FAQs regarding the Voluntary Correction Program (VCP)
Insights into the Voluntary Correction Program (VCP) set forth by the Employee Plans Compliance Resolution System (EPCRS). - Retirement Plans FAQs regarding the Audit Closing Agreement Program
Insights into the Audit Closing Agreement Program (Audit CAP) set forth by the Employee Plans Compliance Resolution System (EPCRS). - Revenue Procedure 2006-27:Employee Plans Compliance Resolution System ( how to fix mistakes)
- Handling 401(k) Mistakes - Learn how to identify, correct and avoid 401(k) mistakes
- Ten Reasons to Identify and Correct Mistakes
- Top Ten Failures Found in Voluntary Correction Program
- Publication 4224, - Retirement Plan Correction Programs