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About The Epcrs Menu:: What's Your Choice?
The document discusses the Employee Plans Compliance Resolution System (EPCRS) program offered by the IRS, which provides plan sponsors with ways to correct errors in retirement plans. It outlines the three options under EPCRS: Audit CAP, Voluntary Correction, and Self-Correction. Audit CAP involves paying a fee to the IRS but fixes errors with no penalty. Voluntary Correction requires filing forms and paying a reduced sanction. Self-Correction has no fees but errors must be fixed without IRS involvement. The document encourages plan sponsors to check if their plan complies with laws and covers all eligible employees.
Detailed Information
| Author: | ['a'] |
|---|---|
| Publication Year: | 2017 |
| Pages: | 2 |
| Language: | English |
| Format: | |
| Price: | FREE |
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