IRS Releases 2018 Series Forms for VCP Plan Correction Submissions

The IRS has released a series of June 2018-dated forms that are used in submissions for retirement plan corrections under the Service’s Voluntary Correction Program (VCP). In addition to the general VCP Compliance Statement form, individual schedules are used for specific plan types (e.g., SIMPLE IRAs, SEPs) or certain plan failures (e.g., non-amender, plan loan failure). The updated forms follow.

Form 14568-B, Model VCP Compliance Statement Schedule 2: Other Nonamender Failures and Failure to Adopt a 403(b) Plan Timely

Form 14568-E, Model VCP Compliance Statement Schedule 5: Plan Loan Failures (Qualified Plans and 403(b) Plans)

Form 14568-H, Model VCP Compliance Statement Schedule 8: Failure to Pay Required Minimum Distributions Timely