IRS regulations generally provide that procedures outlined in the document are not followed or if the sponsor fails to follow the required qualification procedures, the plan may be disqualified. Since the implication of disqualification is so severe, IRS has developed a program that allows employers to avoid the tax consequences of such action. The PenServ Consulting Group is experienced in the correction of plan violations and the correction process established by the applicable Revenue Procedures.
If your program has experienced a disqualifying event or if your document is out of compliance one of our PenServ Consultants will be able to provide guidance on the easiest way to bring your plan into compliance.
PenServ Compliance Services Include:
- Review and evaluation of the compliance issues
- Determination of procedure to follow
- Explanation of the process
- Correcting the defect, if required
- Preparation and submission of EPCRS filing
PenServ can prepare EPCRS Submissions for All Employer Plans including:
- SEPs/SARSEPs
- SIMPLE IRAs
- 403(b) plans
- Qualified Plans including 401(k)s
- 457(b) plans for governmental entities
For Information on PenServ’s EPCRS Submissions call 1-800-849-4001 or email planinquiries@penserv.com.