On July 15, 2021, the Internal Revenue Service (“IRS”) updated its Employee Plans Compliance Resolution System (“EPCRS”) by issuing Revenue Procedure 2021-30 (PDF). The EPCRS changes and revisions, which generally became effective on July 16, 2021, are beneficial to plan sponsors, participants and the retirement plan community.
The IRS has long provided a basic structure for the EPCRS and its underlying programs consisting of: (a) the Self Correction Program (“SCP”) – which allows plan sponsors to self-correct certain failures using pre-approved methods ...
Blog Editors
Recent Updates
- Podcast: Navigating Physician Non-Compete Litigation – Employment Law This Week
- Maryland Expected to Expand Pay Transparency Requirements in Fall 2024
- Video: Union Reps at OSHA Inspections, New COVID-19 Guidance, and Minimum Wage Updates - Employment Law This Week
- Fair Credit Reporting Act Preempts State Law Defamation Claim Over Background Check
- Video: New DOL Rules, U.S. Government Changes Race and Ethnicity Categorization - Employment Law This Week