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Form 5307 and VCP


retbenser

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We took over a 401(k)/PSP plan. The document is not updated for EGTRRA (past the 4/2010 deadline).

We have deicded to restate the plan to reflect EGTRRA (Form 5307).

We have also decided to submit to IRS under the Volunatary Correction Program to correct the non-EGTRRA provisions.

Question: Can we file the Forom 5307 simultaneously with the VCP Form F? Or do we file 5307 first, wait for approval, and then file VCP? Or vice versa? :)

Thanks for all responses.

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File them simultaneously in one submission, & send them to VCP for the initial review. After you get a Compliance Statement, the plan will be forwarded by EPCRS to EP/EO for the FDL review.

You also could file them separately (one filing with EPCRS & one filing for the FDL), but in that case I think EP/EO will wait for the Compliance Statement before beginning their review.

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