EPCRS – Latest Changes and Using the Program

David Guadagnoli presented "EPCRS - Latest Changes and Using the Program," at the American Society of Pension Professionals & Actuaries (ASPPA) Spring National Conference.

The Employee Plans Compliance Resolution System (EPCRS) is constantly evolving and 2021 brought important new changes. David provided an overview of the most recent updates and a discussion of common corrections and the evolving nature of the program, including:

• A longer correction period, expanded use of retroactive amendments, significant overpayment guidance and a shift in anonymous submissions

• Common corrections, including loan and deferral issues

• The long view – how EPCRS (and the IRS) have evolved and improved