"Per [Notice 2023-43], a plan sponsor may self-correct an 'eligible inadvertent failure' if the following conditions are satisfied: [1] The failure was not identified by the Secretary prior to any actions demonstrating a specific commitment to implement a self-correction with respect to the failure. [2] The self-correction is completed within a reasonable period after the failure was identified. [3] The failure is not egregious ... does not directly or indirectly relate to an abusive tax avoidance transaction ... and does not relate to the diversion or misuse of plan assets. [4] The self-correction satisfies all of the provisions applicable to self-correction set forth in Rev. Proc. 2021-30."  MORE >>