"The ability of a plan sponsor to self-correct an eligible inadvertent failure indefinitely and with no last date appears to broaden the time allowed in the EPCRS' correction process that applies to significant operational failures. However, the reality is that plan sponsors must still diligently identify and correct errors. Plan sponsors should implement established practices and procedures to support compliance with the Code as required by Notice 2023-43 and have an effective process for identifying and correcting operational errors and then documenting the correction efforts."  MORE >>