Common mistakes that happen in retirement plans, how to use the IRS’s correction programs to correct the mistake and how to reduce the probability of it happening again.
- Fix-It Guides - fix common mistakes in a 401(k), SEP, SIMPLE IRA, or 403(b) plan
- Employee Plans Compliance Resolution System (EPCRS) overview
- Self-Correction Program overview
- Voluntary Correction Program overview
- 403(b) Plans with Operational Failures
Available correction methods may depend on when the failure occurred.
Correcting a failure to adopt a written 403(b) plan
- What to do if the plan sponsor missed the December 31, 2009, deadline
- Failure to Implement the Plan’s Automatic Enrollment Provisions
How to fix a failure to begin deferrals from an eligible employee’s compensation as required under an automatic enrollment provision.
Designated Roth Contributions
- Common Roth contribution mistakes
In the operation of a Roth feature, sometimes the employer doesn’t follow the employee’s election as to the type of elective deferral.
Failure to Timely Start Minimum Distributions
How to fix a failure to timely start minimum distributions.
Hardship Distributions in a 401(k) Plan
How to fix hardship distributions from a 401(k) plan that do not satisfy the plan provisions.
- Plan Loan Failures and Deemed Distributions
How to fix the problems associated with plan loan failures and deemed distributions.
- Webcast: Retirement Plan Loans to Participants
Safe Harbor 401(k) Plans
- Failure to Provide a Safe Harbor 401(k) Plan Notice
How to fix the problem of failure to provide a safe harbor 401(k) plan notice.
- Using a Plan Amendment for Correction in the Self-Correction Program
When can a plan amendment be used to correct a mistake in the operation of the plan under the Self-Correction Program?
- Failure to Obtain Spousal Consent
How to fix a failure to obtain spousal consent when a distribution is made to a participant in the form other than the required Qualified Joint and Survivor Annuity.
- Using EPCRS to Terminate an Orphan Plan
How to use EPCRS to terminate an orphan plan.
- Top-Heavy Errors in Defined Contribution Plans
How to fix top-heavy errors in defined contribution plans.
Vesting Errors in Defined Contribution Plans
How to fix vesting errors in defined contribution plans.