Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 12 NOVEMBER 2026

IRS Updates Retirement Plan Correction Procedures

Fennemore Craig, P.C.
Explore more from Fennemore Craig, P.C.

The IRS has issued Revenue Procedure 2026-34, fundamentally updating its Employee Plans Compliance Resolution System (EPCRS) framework for correcting qualified retirement plan errors. This comprehensive update incorporates significant changes from the SECURE 2.0 Act, expanding self-correction options and reducing the need for formal IRS filings when plan sponsors encounter operational failures or documentation issues.

United StatesEmployment and HR
Ryan C. Curtis
Ryan C. Curtis
Jenny Zhang
Jenny Zhang
David Sieck
David Sieck

On October 22, 2026, the Internal Revenue Service (IRS) issued Revenue Procedure 2026-34, which updates its Employee Plans Compliance Resolution System (EPCRS) guidance for correcting qualified retirement plan errors. The new guidance replaces prior corrections rules last updated in 2021 and now formally incorporates guidance the IRS issued since the SECURE 2.0 Act became law in 2022.1

When the sponsor of an employer-sponsored retirement plan encounters a plan error, whether it be an operational failure to follow plan terms or a failure to amend the Plan in a timely manner, EPCRS serves as the IRS’s framework to correct the error and preserve the plan’s tax qualified status.

Under ECPRS, plan sponsors have three available programs for plan corrections: (1) Self-Correction Program (SCP), (2) Voluntary Correction Program (VCP), and (3) Audit Closing Agreement Program (Audit CAP). Generally, the new Revenue Procedure makes it easier to correct through SCP and reduces the need for VCP

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

IRS Issues New Revenue Procedure

The IRS has released Revenue Procedure 2026-24, establishing new inflation-adjusted limits for Health Savings Accounts and high-deductible health plans effective in 2027. These updates include increased contribution limits, higher minimum deductibles, and expanded out-of-pocket maximums, along with new provisions for direct primary care service arrangements under the One, Big, Beautiful Bill Act. How will these changes impact employee benefit planning and healthcare coverage strategies?
United StatesEmployment and HR
Winston Taylor
Winston Taylor
Article

Treasury Issues Temporary Regulations On Trump Accounts And Contributions

The U.S. Department of the Treasury and IRS recently issued temporary regulations that provide an immediately effective framework for establishing and administering “Trump Accounts,” including broad automatic enrollment and large-scale contributions funded by governmental and charitable donors. The regulations became effective September 30, 2026, apply to taxable years beginning on or after January 1, 2026, and expire September 30, 2029.
United StatesEmployment and HR
Fennemore Craig, P.C.
Fennemore Craig, P.C.
Article

Allegheny County Council Passes Paid Parental Leave Policy

On Tuesday, October 20, 2026, the Allegheny County Council passed legislation requiring employers with at least 15 workers to provide 12 weeks of paid parental leave, ending months-long debate on the proposal. We previously reported on the initial 18-week proposal in May 2026 (summarized here), the revised proposed legislation (summarized here), and the Allegheny County Board of Health passing the legislation (summarized here). The measure was passed in an 11-4 vote. It will become effective in one year, as County Executive Sara Innamorato signed the bill on, October 22, 2026.
United StatesEmployment and HR
Buchanan Ingersoll & Rooney
Buchanan Ingersoll & Rooney
Article

DOL Announces Enforcement Actions Against Employers In H-1B And PERM Fraud Probe

The Trump Administration has launched an unprecedented enforcement action suspending permanent labor certification processing for eight major employers, linking immigration sponsorship to layoff histories and recruitment practices. This development signals a fundamental shift in how the government evaluates employer access to H-1B and green card programs, with investigations already underway and subpoenas served.
United StatesEmployment and HR
Mayer Brown
Mayer Brown
Article

Countdown To Compliance: Employer Preparations For Nov. 2026 OSHA HazCom Deadlines

OSHA's revised Hazard Communication Standard requires covered employers to update chemical labels, written hazard communication programs, and employee training by November 20, 2026. The revisions align with the UN's Globally Harmonized System and introduce new hazard classifications, downstream use considerations, and updated requirements for compressed gases and aerosols. Employers must navigate separate compliance timelines for chemical mixtures while ensuring their workplace practices meet the updated st
United StatesEmployment and HR
Jackson Lewis P.C.
Jackson Lewis P.C.
Article

Maryland’s Ban On Mandatory Employer Meetings: Notice Deadline Looms

Maryland employers must comply with new posting requirements under the Worker Freedom Act, which prohibits penalizing employees who decline attendance at employer-sponsored meetings on religious or political matters. The Maryland Department of Labor has released official notices in English and Spanish that must be displayed prominently in workplaces and provided to new hires starting November 1, 2026.
United StatesEmployment and HR
Jackson Lewis P.C.
Jackson Lewis P.C.
Article

Treasury Issues Temporary Regulations On Trump Accounts And Contributions

The U.S. Department of the Treasury and IRS recently issued temporary regulations that provide an immediately effective framework for establishing and administering “Trump Accounts,” including broad automatic enrollment and large-scale contributions funded by governmental and charitable donors. The regulations became effective September 30, 2026, apply to taxable years beginning on or after January 1, 2026, and expire September 30, 2029.
United StatesEmployment and HR
Fennemore Craig, P.C.
Fennemore Craig, P.C.
Article

New U.S. Tariffs Replace Expiring Section 122 Tariffs

President Trump's administration has shifted from emergency tariffs to Section 301 tariffs targeting forced labor practices, imposing 10-12.5% duties on imports from over 60 trading partners. This comprehensive analysis examines the legal framework, country-specific rates, product exemptions, and the strategic pivot from constitutionally challenged emergency measures to established trade policy enforcement mechanisms.
GlobalInternational Law
Fennemore Craig, P.C.
Fennemore Craig, P.C.
Article

Nonprofit vs. Not-for-Profit: Why The Difference Matters

While many use the terms interchangeably, the legal and tax distinctions between nonprofit and not-for-profit organizations significantly impact operations, tax-deductibility of contributions, and IRS regulation. Understanding these differences is crucial for donors making informed giving decisions, board members fulfilling fiduciary duties, and organizations maintaining their tax-exempt status and compliance obligations.
United StatesTax
Fennemore Craig, P.C.
Fennemore Craig, P.C.
Article

Medicare And Cybersecurity Changes To Prepare For In 2027

Medicare changes taking effect in 2027 will significantly impact Arizona's physicians and health plans, requiring new electronic prior authorization systems, adjusted payment calculations, and expanded prescription drug pricing negotiations. How should healthcare providers and organizations prepare their workflows, budgets, and compliance systems to navigate these operational and financial changes before the January 1 deadline?
United StatesFood, Drugs, Healthcare, Life Sciences
Fennemore Craig, P.C.
Fennemore Craig, P.C.