IRS & DOL Voluntary Correction Programs
The IRS has established the Employee Plans Compliance Resolution System (“EPCRS”), which gives plan sponsors the opportunity to correct many plan qualification defects and operational failures at reduced or no cost. WLG is experienced in all aspects of EPCRS including Self Correction Programs and Voluntary Correction Programs (“VCP”). The DOL has established The Delinquent Filer Voluntary Compliance Program and the Voluntary Fiduciary Compliance Program which enable plan sponsors to self correct reporting and fiduciary issues relating to their qualified plan.
