Home Email This page Print Bookmark
Options


 

IRS Permits 403(b) Plan Sponsors to Correct Failure to Adopt Written Plan Document Using VCP

Share

November 2013

In its retirement plan newsletter dated November 22, 2013, the IRS stated that 403(b) plan sponsors who did not adopt a written plan document by the December 31, 2009 deadline can correct the error by making a Voluntary Correction Program (VCP) submission under the IRS’s Employee Plans Compliance Resolution System (EPCRS).

If the plan’s only error is its failure to timely adopt a written plan document, it can get a 50% discount on the VCP fee as long as the filing is sent to the IRS by December 31, 2013.

Related Practices