New IRS Procedures for Correcting Automatic Enrollment Errors.
Effective April 2, 2015, the IRS has modified its Employee Plans Compliance Resolution System (“EPCRS”) to improve the required correction of errors related to automatic enrollment and automatic escalation provisions. These EPCRS modifications are designed to make it easier for employers to self-correct errors related to the implementation of these automatic provisions, therefore encouraging employers to continue adopting these automatic arrangements for their employees. In addition, the new procedures make it easier for employers to correct failures to implement regular employee deferrals if the correction is completed quickly. More information about the modified correction procedures can be found in Revenue Procedure 2015-28.