The law expands EPCRS to allow more types of errors to be corrected under the self-correction method. There is no time limit unless the self-correction is not completed within a reasonable time period after the failure is identified or the IRS catches the failure...
Correction
Safe Harbor for corrections of employee elective deferral failures
Under current law, plans with automatic enrollment and automatic escalation features could be subject to significant penalties for mistakenly missing a deferral contribution for an employee. New rules eliminate the penalty for this mistake if the following conditions...