Employee Plans Compliance Resolution System (EPCRS)

Forms and Documents

Document Name	Status
Form 8951 Form 8951--Compliance Fee for Employee Plans Voluntary Correction Program Form and Instruction	Modified
Form 8950 Form 8950--Application for Voluntary Correction Program (VCP) Form	Modified
Form 14568 Revenue Procedure 2015-27 which includes Forms 14568, 14568-A thru I Form	Modified
Justification.docx Justification for No Material/Nonsubstantive Change	2016-09-15
Rev Proc 2016-XX(checked).doc Supplementary Document	2016-09-15
2016 Supporting Statement1.doc Supporting Statement A	2016-09-21

IC Document Collections

IC ID	Document Title	Status
218111	Revenue Procedure 2015-28	Modified
203817	Form 8951--Compliance Fee for Employee Plans Voluntary Correction Program Form and Instruction	Modified
203812	Form 8950--Application for Voluntary Correction Program (VCP) Form	Modified
19094	Revenue Procedure 2015-27 which includes Forms 14568, 14568-A thru I Form	Modified

ICR Details

OMB Control No: 1545-1673	ICR Reference No: 201609-1545-024
Status: Historical Active	Previous ICR Reference No: 201509-1545-004
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Employee Plans Compliance Resolution System (EPCRS)
Type of Information Collection: No material or nonsubstantive change to a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 09/29/2016
	Date Received in OIRA: 09/27/2016
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2019	08/31/2019	08/31/2019
Responses	15,375	0	15,375
Time Burden (Hours)	190,941	0	190,941
Cost Burden (Dollars)	0	0	0

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Abstract: Revenue Procedure 2016-XX updates the comprehensive system of correction programs for sponsors of retirement plans that are intended to satisfy the requirements of § 401(a), 403(a), 403(b), 408(k), or 408(p) of the Internal Revenue Code (the "Code"), but that have not met these requirements for a period of time. This system, the Employee Plans Compliance Resolution System ("EPCRS"), permits Plan Sponsors to correct these failures and thereby continue to provide their employees with retirement benefits on a tax-favored basis. The components of EPCRS are the Self-Correction Program ("SCP"), the Voluntary Correction Program ("VCP"), and the Audit Closing Agreement Program ("Audit CAP").

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Authorizing Statute(s): US Code: 26 USC 501 Name of Law: Exemption from tax on corporations, certain trusts, etc.
   US Code: 26 USC 405 Name of Law: Individual retirement accounts
   US Code: 26 USC 401 Name of Law: Qualified pension, profit-sharing, and stock bonus plans
   US Code: 26 USC 403 Name of Law: Taxation of employee annuities
   US Code: 26 USC 404 Name of Law: Deduction for contributions of an employer to anemployees' trust or annuity plan and compensation u
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	80 FR 37755	07/01/2015
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 24942	04/27/2016
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 4

IC Title	Form No.	Form Name
Revenue Procedure 2015-28
Revenue Procedure 2015-27 which includes Forms 14568, 14568-A thru I	14568-I, 14568, 14568-B, 14568-E, 14568-D, 14568-F, 14568-G, 14568-A, 14568-C, 14568-H	Appendix C Part I Model VCP Submission Compliance Statement ,   Appendix C Part II Schedule 1 Interim and Certain Discretionary Nonamender Failures ,   Appendix C Part II Schedule 2 Nonamender Failures (other than those to which Schedule 1 applies) and Failure to Adopt a 403(b) Plan Timely ,   Appendix C Part II Schedule 3 SEPs and SARSEPs ,   Appendix C Part II Schedule 4 Simple IRAs ,   Appendix C Part II Schedule 5 Plan Loan Failures (Qualified Plans and 403(b) Plans) ,   Appendix C Part II Schedule 6 Employer Eligibility Failure (§ 401(k) and 403(b) Plans only) ,   Appendix C Part II Schedule 7 Failure to Distribute Elective Deferrals in Excess of the § 402(g) Limit ,   Appendix C Part II Schedule 8 Failure to Pay Required Minimum Distributions Timely under § 401(a)(9) ,   Appendix C Part II Schedule 9 Correction by Plan Amendment (in accordance with Appendix B)
Form 8950--Application for Voluntary Correction Program (VCP)	8950	Application for Voluntary Correction Program (VCP) under the Employee Plans Compliance Resolution System (EPCRS)
Form 8951--Compliance Fee for Employee Plans Voluntary Correction Program	8951	Compliance Fee for Application for Voluntary Correction Program (VCP)

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	15,375	15,375	0	0	0	0
Annual Time Burden (Hours)	190,941	190,941	0	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement:

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 09/27/2016

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