Is the IRS EPCRS SCP working for you?The Employee Plans Compliance Resolution System (EPCRS EPCRS Employee Plans Compliance Resolution System (IRS) EPCRS European Pharmacopoeial Commission of Reference Substances ) is a comprehensive system of correction programs for sponsors of retirement plans intended to satisfy the requirements of Sec. 401(a), 403(a), 403(b), 408(k) or 408(p), but which have not met those requirements for a period of time. This correction system allows plan sponsors to correct compliance failures without endangering the qualified status of their plans. EPCRS includes the Self-Correction Program (SCP (1) (Service Control Point) A node in an SS7 telephone network that provides an interface to databases, which may reside within the SCP computer or in other computers. ), the Voluntary Correction Program (VCP VCP Verband Christlicher Pfadfinderinnen und Pfadfinder (German Scouts) VCP VMware Certified Professional VCP Voluntary Cleanup Program VCP Virtual Control Panel VCP Video Cassette Player VCP Vietnamese Communist Party ) and the Audit Closing Agreement Program (Audit CAP). To find out more about EPCRS, visit www.irs.gov/retirement/ artide/O,,id=96907,00.html. The 2006 Employee Benefit Plans Conference (to be held May 8-10, 2006 in Baltimore, MD) will hold a roundtable discussion about the SCP. Please e-mail any anecdotal evidence, issues and/or questions you have regarding this program to taxletter@aicpa.org, so your concerns may be addressed with government personnel at that conference. Lisa A. Winton, MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration , MST See micro systems technology. , AICPA Technical Manager-Taxation, Washington, DC |
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