EPCRS and VFCP Plan Corrections Resource Kit

Summary

This resource kit collects content that will assist plan sponsors, their counsel, and other practitioners in correcting errors in tax-qualified retirement plans governed by the Internal Revenue Code (IRC) and the Employee Retirement Income Security Act (ERISA). It includes resources that address both the IRS Employee Plans Compliance Resolution System (EPCRS) as updated by IRS Revenue Procedure 2021-30 and the DOL Voluntary Fiduciary Correction Program (VFCP) that was established in 2006. See 71 Fed. Reg. 20,262 (Apr. 19, 2006) (current restatement); see also 87 Fed. Reg. 71,164 (Nov. 21, 2022) (proposed amendments and restatement).