• Retirement Plans
• Health and Welfare Plans
• Executive Compensation & Stock Plans
• IRS and DOL Correction Programs
• IRS, DOL, and PBGC Plan Audits
• Fiduciary and ERISA Consulting
• Mergers and Acquisitions
• Plan Consulting for Service Providers to Plan Sponsors

IRS and DOL Correction Programs

The Internal Revenue Service and the Department of Labor offer various compliance correction programs to help plan sponsors avoid significant penalties for non-compliance. We have prepared correction program submissions and as part of that submission we often discover that we must negotiate any applicable penalty or correction solution with the IRS or DOL.

Our goal is to minimize any penalties for any existing problems needing correction, and assist in developing systems to avoid future operational or plan errors requiring corrective action.

The various correction programs include:

• The Employee Plans Compliance Resolution System (EPCRS). This IRS program allows plan sponsors of most retirement plans to correct certain operational and plan document errors.
• The Voluntary Fiduciary Correction Program (VFC). This DOL program allows a plan fiduciary who has breached his or her fiduciary duty to correct certain breaches and avoid substantial penalties
• The Delinquent Filer Voluntary Compliance Program (DFVC). This program allows plan sponsors to submit delinquent required annual reports on Form 5500 for substantially reduced fees as compared to normal late filing penalties.