Guest Lil Anderson Posted March 31, 2011 Posted March 31, 2011 I have a plan that failed the ADP test for the 2009 Calendar year, but did not make any refunds. This was just discovered last week. Can someone please tell me EXACTLY (by the book) what I need to do to correct this? They failed the 2010 ADP test also, and only two refunds were made by 03/15. Of those 2 refunds, both were more than what the failure amount should have been. Is there anyway the participant can put the overage back into the plan? Thank you for your assistance, I really appreciate it.
Lou S. Posted March 31, 2011 Posted March 31, 2011 Revenue Procedure 2008-50 sets forth the current EPCRS. http://www.irs.gov/irb/2008-35_IRB/ar10.html See Correction Methods and Examples for more details.
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