Employee Plans

REV. PROC. 2018–52, page 611. The revenue procedure modifies and supersedes Rev. Proc. 2016–51, 2016–42 I.R.B. 465, which sets forth the Employee Plans Compliance Resolution System (“EPCRS”), a comprehensive system of correction programs administered by the Employee Plans Division (TE/GE) for sponsors of retirement plans that have failed to satisfy certain requirements under § 401(a), 403(a), 403(b), 408(k), or 408(p) of the Code. This revenue procedure sets forth new procedures for using the www.pay.gov website to file VCP submissions and pay user fees. Beginning on April 1, 2019, the IRS will no longer accept paper VCP submissions or process user fees paid with a paper check. During the transition period from January 1, 2019, through March 31, 2019, plan sponsors may file VCP submissions with the IRS either by using www.pay.gov in accordance with sections 10 and 11 of the revenue procedure or by filing paper VCP submissions in accordance with the procedures in sections 10 and 11 of Rev. Proc. 2016–51. Rev. Proc. 2016–51 is modified and superseded.