IRS expands system for fixing faulty retirement plans

Published Updated 3 Min Read

The Internal Revenue Service has released a long-awaited set of rules for correcting employee retirement plans that fail to meet the requirements of the Tax Code.

The revenue procedure updates and expands the IRS’s Employee Plans Compliance Resolution System, a comprehensive system of correction programs for sponsors of retirement plans that have failed to meet one or more requirements of the Internal Revenue Code.

Michael Cohn
Editor-in-chief, AccountingToday.com

Michael Cohn, editor-in-chief of AccountingToday.com, has been covering business and technology for a variety of publications since 1985. Prior to joining Accounting Today and WebCPA, he worked for … Read full bio


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