IRS expands self-correction program for retirement plans

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By Employee Benefits Research Group | 13 May 2019
The IRS has expanded the Self-Correction Program (SCP) to enable retirement plan sponsors to more easily fix certain common plan document and operational failures, effective beginning April 19, 2019. Revenue Procedure 2019-19 updates the Employee Plans Compliance Resolution System, which covers the SCP and the Voluntary Correction Program and Audit Closing Agreement Program.