IRS has expanded the self-correction program in latest EPCRS update

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Employee Plans News April 19, 2019

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Expanded Self-Correction Program – Rev. Proc. 2019-19

The IRS expands its Employee Plans Compliance Resolution System self-correction program (SCP) in Revenue Procedure 2019-19, effective April 19, 2019, to make it easier to fix various failures. This expansion includes: 

  • Using SCP to resolve certain plan document failures,
  • Correction options and possible relief from deemed distributions associated with specified failures involving plan loans made to participants, and
  • Additional opportunities for correcting certain operational failures by plan amendment.

 

VCP Submissions Must be Made Electronically

Beginning April 1, 2019, you must make all Voluntary Compliance Program submissions electronically using Pay.gov. Any paper VCP submissions postmarked after March 31, 2019, will be returned to the applicant.


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