DOL and IRS Update Voluntary Correction Programs

Thursday, June 01, 2006 | Kenneth A. Mason

Filed under: Voluntary Correction Programs, Qualified Retirement Plans

The Department of Labor and the Internal Revenue Service recently modified their voluntary correction programs to make it easier for plan sponsors and fiduciaries to remedy certain violations. The modifications affect the DOL’s Voluntary Fiduciary Correction Program (“VFCP”) and the IRS’s Employee Plans Compliance Resolution System (“EPCRS”).

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