IRS Updates Correction Program For Noncompliant Retirement Plans

Wodarczyk Law Firm Uncategorized

The IRS recently updated the correction program that it offers as a remedy for noncompliant retirement plans. The updated program continues to offer incentives to plan sponsors to conduct an internal audit of their plans and self-correct any outstanding problems before the problems surface during an IRS examination. Find a copy of Rev. Proc. 2016-51 here.