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Miss a Plan Restatement Deadline? SCP to the Rescue!
Robert Richter for American Retirement Association [ARA] 
Sept. 3, 2020 "[Rev. Proc. 2019-19 expanded the Self-Correction Program (SCP)] to include the ability to self-correct certain plan document failures.... The IRS ... has informally stated that SCP was modified to permit the self-correction of missed restatements ... There are three conditions that must be satisfied to use SCP. These are not unique to plan document failures -- they generally apply to any failure trying to be corrected under SCP.... The other option is to use the VCP." MORE >> |
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