BW INSIGHTS

Now is the Time for Plan Sponsors to Correct Plan Errors: IRS Issues Guidance on the Expansion of EPCRS and Self-Corrections

The Internal Revenue Service (IRS) has issued interim guidance, provided in Notice 2023-43, that explains the expansion of plan sponsors’ ability to self-correct errors in qualified retirement plans. The Employee Plans Compliance Resolution System (EPCRS) sets forth the IRS’s guidance to plan sponsors on how to correct errors relating to qualified... Read More