Sacramento 916-357-5660 | Los Angeles 310-571-8896 | San Jose 408-467-3860

    Employee Benefit Plan Compliance & Correction Programs

    Prioritizing Your Plan's Compliance

    A thorough assessment of any retirement plan protects your business and your employees. At Employee Benefits Law Group, we can quickly review any plan to assess compliance, and help make voluntary corrections to avoid unwelcome surprises.

    We'll thoroughly review your plan to make sure it's healthy before an IRS audit or DOL investigation.

    Periodic plan assessments are common sense. With laws and regulations changing frequently – in addition to new plan options opening up – an assessment could uncover opportunities for improvement, ease administrative burdens and prevent costly tax and compliance issues. Assessments have many benefits:

    • They fully prepare an organization for an IRS audit or a DOL investigation.
    • They allow you to fix problems when they're still small.
    • A review of plan documents and plan operations by trained employee benefits professionals can reveal issues that day-to-day administrators don't see.
    • They protect plan participants and help ensure the plan can deliver what's promised.
    • Using IRS and DOL retirement plan correction programs can help. Even plan operational problems that can't be self-corrected, but are voluntarily identified, can be addressed and resolved.
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    How We Work

    Our team works directly with your staff to review plan and trust documents, administrative forms, participant benefit statements, payroll records, Forms 5500, summary annual reports, audit reports, compliance tests, employee census data and ERISA bonds.

    If we identify issues, we'll prioritize them and explain how we can help bring your plan into compliance using a government correction program. And if an issue doesn't exactly fit within the regular government correction programs, we can check other options – and submit anonymously or submit using a special IRS relief program.

    We'll Help You Fix It

    We can help you ensure that your plan is fully compliant because we have extensive experience and a proven record of success with the IRS's Employee Plans Compliance Resolution System (EPCRS). We'll use the correct approach by either:

    • Using the Self-Correction Program (if we determine that you are eligible) and properly documenting all corrections in case of a later audit.
    • Using the Voluntary Correction Program (for issues that cannot be self-corrected) to help you re-qualify your plan – preparing the application to the IRS and cost-effectively correcting the plan failures.
    • Correcting failures that are discovered during auditing using the Audit Closing Agreement Program and negotiating IRS sanctions.

    For plan tax issues that cannot be corrected in EPCRS, we have experience filing applications for IRS Employee Plans voluntary closing agreements and negotiating a more favorable resolution than you would receive if the plan was audited.  

    If you have potential prohibited transactions or other fiduciary issues, we can work with you to correct them and, if eligible, submit them in the Department of Labor's Voluntary Fiduciary Correction Program.