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IRS Voluntary Correction Easier, More Flexible, AND Lower Fees

As we come to the very end of the GUST Remedial Amendment Period, voluntary correction should be a useful tool in every plan advisors arsenal. The new, improved EPCRS provides additional guidance for nonamenders, late amenders and plans with operational failures. If you have plans that were not operated in accordance with the documents, you may need to make operational corrections or you may want to know when you can use a reformative amendment. For some plans, it may be cheaper to submit earlier than it is to wait. Join us to learn about these issues and much more! Highlights of the new EPCRS Revenue Procedure 200344 include • All correction procedures consolidated in one single program. • New, lower fees with fixed fee schedule. • Streamlined, simplified application process. • EPCRS expanded to cover SIMPLE IRA Plans. • Improved guidance for SEP corrections. • Fees for nonamenders lower if submitted to EPCRS within one year. • VCP is available for EGTRRA nonamenders. • Sample submission forms provided. • Simplified Group Submission Process. • Use of reasonable estimates to make corrections. • Changes to Audit CAP factors. Presented by Joyce Kahn, Manager, IRS EP Voluntary Compliance and James C. Paul, Benefits Attorney, Chang Ruthenberg & Long PC How Do the Recorded Webcasts Work? Each webcast runs approximately 100 minutes in length. After you have registered you will receive confirmation and detailed instructions via email. Recorded webcasts are offered completely over the Internet, using Flash presentation software. To attend, an attendee must have Internet access, a sound card, and speakers for his or her computer. Registered attendees can access the presentation twice, but arrangements can be made for people who wish to view the presentation an additional number of times. The statements and materials presented at ASPA conferences are solely the opinions of the speakers and do not represent the opinion or the position of ASPA. ASPA assumes no responsibility for the content of the statements and materials presented by speakers during ASPAs webcasts.

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