News & Analysis as of

Retirement Plan Internal Revenue Service Pilot Programs

Woods Rogers

They’re Back: IRS Announces Phase 2.0 of Pre-Audit Compliance Pilot

Woods Rogers on

On February 7, 2024, the IRS announced it has started the second phase of the Pre-Examination Retirement Plan Compliance Program pilot. (IRS Employee Plans News, February 7, 2024) Original Program Pilot - The initial...more

Faegre Drinker Biddle & Reath LLP

IRS Announces Phase 2 of Pre-Examination Compliance Pilot Program

Recently, the IRS announced phase two of its expansion of the Pre-Examination Compliance Pilot Program. Under the pilot program, an employer may limit or entirely avoid an impending IRS audit if they promptly correct any...more

Kilpatrick

IRS Extends Pre-Audit Compliance Pilot Program

Kilpatrick on

The IRS announced on February 7, 2024, that it is moving into the second phase of its Pre-Examination Retirement Plan Compliance Program pilot, which is discussed in our prior blog post....more

Morgan Lewis

IRS Pilots Pre-Examination Retirement Plan Compliance Program

Morgan Lewis on

The IRS pilot program allows a plan sponsor to conduct a self-examination before a full or limited retirement plan audit would be initiated. In its June 3, 2022, Employee Plans Newsletter, IRS Employee Plans announced a...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

IRS Launches Pre-examination Retirement Plan Compliance Program Trial

Employers will have the opportunity to review and self-correct retirement plan failures upon being identified for plan examination by the Internal Revenue Service (IRS). The IRS announced in early June 2022 the rollout of a...more

Keating Muething & Klekamp PLL

Benefits Monthly Minute - June 2022

The June Monthly Minute provides updates on machine readable file posting rules, the IRS’ new plan examination pilot program, and the upcoming PCORI fee and filing requirements. ...more

Faegre Drinker Biddle & Reath LLP

IRS Pilots Pre-Examination Compliance Program for Retirement Plans

In its recent June Employee Plans newsletter, the Internal Revenue Service (IRS) announced the launch of a 90-day pre-examination compliance pilot program. Under the program, the IRS will notify a plan sponsor that its...more

McDermott Will & Emery

New IRS Pre-Audit Compliance Program for Retirement Plans

McDermott Will & Emery on

Retirement plan sponsors should be aware of a new Internal Revenue Service (IRS) pilot program, which permits plan sponsors to conduct a pre-examination “check-up” of retirement plan administration before the IRS begins a...more

Verrill

IRS Announces New Pilot Program for Retirement Plan Audits

Verrill on

On June 3, 2022, the Internal Revenue Service (“IRS”) announced a new pre-examination compliance pilot program beginning in June 2022. Under the pilot program, the IRS will notify a plan sponsor by letter that its retirement...more

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