Compliance April 30, 2013

IRS to Hold Call About 403(b) Corrections

The Internal Revenue Service (IRS) has scheduled a phone forum about 403(b) corrections and examination trends.
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Revenue Procedure 2013-12 expanded corrections for 403(b) plan failures under the IRS Employee Plans Compliance Resolution System (EPCRS). (See “IRS Updates Compliance Resolution System.”) The phone forum includes a discussion about the Revenue Procedure and, including corrections for 403(b) plan failures and updates to the EPCRS.   

Avaneesh Bhagat, voluntary compliance group manager; Stephanie Bennett, Voluntary Compliance Program coordinator and Robert Cremeens, program analyst, will review issues found in recent 403(b) audits and correcting 403(b) plan failures. To request specific matters be addressed, e-mail  ep.phoneforum@irs.gov by May 21.  

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The event is May 23 at 1pm Eastern time.  

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