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employee plans compliance resolution system

  • Is Your Plan Ready to Respond to an IRS Inquiry?

    • October 5, 2022
    • Posted by: Jeff Atwell
    • Category: Financial Plan, Resources
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    compliance

    As 2022 comes to a close, plan sponsors and advisors should take the opportunity to review qualified plans to ensure compliance. The IRS has implemented the Employee Plans Compliance Resolution System, or EPCRS, which offers a 90-day notice for IRS audits, allowing plan sponsors to address any issues with their plan. The attached checklist will give plan sponsors a starting point for evaluating whether their plan is in compliance and ready to respond to an IRS inquiry.

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