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New 90-day Pre-Examination Compliance Pilot
The IRS Employee Plans function is piloting a pre-examination retirement plan compliance program beginning in June 2022. This program will notify a plan sponsor by letter that their retirement plan was selected for an upcoming examination.
The letter gives a plan sponsor a 90-day window to review their plan's document and operations to determine if they meet current tax law requirements. If you don't respond within 90 days, we'll contact you to schedule an exam.
If your review reveals mistakes in the plan's documents or operations, you may be able to self-correct these mistakes using the correction principles in our voluntary compliance program (EPCRS), described in Revenue Procedure 2021-30 (PDF).
If you find mistakes during your review that aren't eligible to be self-corrected, you can request a closing agreement. We'll use the Voluntary Correction Program fee structure to determine the sanction amount you pay under a closing agreement.
The IRS will review your documentation and determine if we agree with your conclusions and that you appropriately self-corrected any mistakes. We'll then issue a closing letter or conduct either a limited or full scope examination.
Our goal with this program is to reduce taxpayer burden and reduce the amount of time spent on retirement plan examinations. At the end of this pilot, we'll evaluate its effectiveness and determine if it should continue to be part of our overall compliance strategy.
Find answers to many of your retirement plan or IRA questions at IRS.gov/Retirement.
If you need help with an account-specific question, basic information about retirement plan forms or the status of pending applications, call our Customer Account Services at 877-829-5500.
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