IRS posts VCP submission kit for 403(b) plans

The IRS has posted to its website a Voluntary Correction Program (VCP) Submission Kit for 403(b) plan sponsors who missed the December 31, 2009 deadline to adopt a written plan. The kit was created to guide the 403(b) plan sponsor through the steps in filing a submission for a VCP compliance statement. It includes instructions and a sample submission correctly completed. It is designed for use by eligible organizations that sponsor a 403(b) plan but that failed to adopt written plan document(s) for the plan by December 31, 2009, as required.

Source: http://www.irs.gov/pub/irs-tege/vcp_submission_kit_403b.pdf.

For more information on this and related topics, consult the CCH Pension Plan Guide, CCH Employee Benefits Management, and Spencer’s Benefits Reports.

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