Are all employer matching contributions applied correctly? Were the eligible employees correctly identified? Is compensation correct, ie. full year, partial year, etc.? Was the timing of deposits correct? The terms of the plan must be followed when allocation employer matching contributions. When a failure is discovered and corrected will determine whether the IRS Self-Correction is available or the plan sponsor must file under the IRS Voluntary Compliance Program.
Posted on: Tue, 13 May 2014 13:10:04 +0000