Plan Corrections Take on a Slightly New Look with Revenue Procedure 2013-12

The Internal Revenue Service (IRS) has recently issued its latest update to its Employee Plans Compliance Resolution System (EPCRS), Revenue Procedure 2013-12, which takes on an important role of helping to preserve the tax-qualified status of employer-sponsored retirement plans. This updated procedure was issued on December 31, 2012, and replaces Revenue Procedure 2008-50, effective as of April 1, 2013 (or earlier, if elected). Please see the attached article for further information.