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Self-Correction Program

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3 replies to this topic

#1 Guest_named_Enda80_*

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Posted 04 July 2008 - 10:17 PM

[font="Times New Roman"]I found this list a while. Anyone feel free to jump in to elaborate or explain what these amendments refer to you and why we must amend for them.

Revenue Procedure 2005-66

Notice 2001-57

Notice 2001-56

26 CFR 1.72(p)-1

26 CFR 1.401 (a)(4)-1(b)(2)

Revenue 2001-30

Code 401(a)(17)

Notice 2001-56 for EGTRRA 611(c)

Code 401(a)(31) amendment by 643 of EGTRRA after-tax contributions not allowed?

Notice 2005-5

Code 402, EGTRRA 641, 642, 643 rollover per 403(b), 457

hardship distributions?

employee contributions?

Code 401(a) amendment for 617 of EGTRRA?

404(k)(2)(A) amendment for 662(a) of EGTRRA-plan not ESOP?

Notice 2002-2 Plan not an ESOP?

Code 411(a) as amended by 633 of EGTRRA

Revenue Ruling 2003-65

Code 411(a)(11)(D)

Revenue Procedure 2005-23 (or 2002-73?) as modified by Revenue Procedure 2005-76

Code 411(d)(6)(D) and 411 (d)(6)(E)

26 CFR 1.41(d)-4, Q & A-2 (e)

26 CFR 1.411 (d)-3

Revenue Ruling 2004-20

Regulations Under 414(v)

Notice 2002-4

Revenue Ruling 2001-51

Code 415 (c) as amended by EGTRRA 611(b) and 632

26 CFR 1.415(c)-2(e)

Revenue Ruling 2002-27

Code 416 (g)(4)(H)

Revenue 2004-13

26 CFR 1.417(e)-1

Code 4975 amended for 612 of EGTRRA

Code 4975(f) amendment of 240 of AJCA

Public Law 109-73

Notice 2005-92

Notice 2005-70

Revenue 2002-42

Revenue Procedure 2002-21

Revenue Procedure 2003-86

Revenue Ruling 2003-11

Revenue Ruling 2004-10

Revenue Ruling 2004-12

Revenue Ruling 2005-55

Notice 2007-3

Notice 2005-101

Gulf Opportunity Zone Act of 2005, Public Law 109-135

#2 Guest_named_Enda80_*

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Posted 04 July 2008 - 10:20 PM

Anyone familiar with the self-correction programs?

#3 BeckyMiller


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  • 432 posts

Posted 10 July 2008 - 09:41 AM

I think many of the folks who post to this message board are familiar with the Employee Plans Compliance Resolution System, as defined in Rev. Proc. 2006-27 and have worked with the IRS and their clients under any one of the three basic options. Not sure how it relates to the list that you have provided. Where did you find this list? What is your specific question?

#4 L337pwner5


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Posted 10 July 2008 - 11:25 AM

The list appears to be taken from either the 2006 or 2007 cumulative list of changes in plan qualification requirements. Rev. Rul. 2007-94 is the 2007 list and it provides a (very) brief summary of each item. A plan likely not have to amend for all of the items, because some items apply only to specific types of plan (e.g. ESOPs) or plan sponsor (e.g. S Corps). You should talk to a benefits lawyer to determine what law changes your specific plan must be amended to reflect.

As for the EPCRS, I would agree with BeckyMiller that many, if not most of the posters here are intimately familiar with the various voluntary correction programs.