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Text of IRS Form 14568-E: Model VCP Compliance Statement -- Schedule 5: Plan Loan Failures (PDF)
Internal Revenue Service [IRS] 
[Official Guidance] June 29, 2018
"The plan identified above did not comply with the requirements of Section 72(p)(2) of the Internal Revenue Code (IRC). (Note: The conditions of IRC Section 72(p)(2) must be satisfied for a participant loan to be exempt from being treated as a distribution to the participant under IRC Section 72(p)(1).) The failure occurred for the following reason(s) (check applicable boxes and provide the information requested)." [Rev. June 2018]
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