Treasury Updates Correction Process for Retirement Plans and IRAs; Comments Due January 20
Published October 23, 2026
The Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued two revenue procedures for correcting plan errors for employee retirement plans and creating one for Individual Retirement Accounts (IRAs) in compliance with the SECURE 2.0 Act of 2022 (SECURE 2.0).
Revenue Procedure 2026-34 updates and expands the Employee Plans Compliance Resolution System (EPCRS) for plan sponsors of employer retirement plans, and modifies and supersedes Revenue Procedure 2021-30. The EPCRS revenue procedure is effective October 22, 2026.
Revenue Procedure 2026-33 establishes the IRA Compliance Resolution System (ICRS) a new correction program for IRAs. The ICRS revenue procedure is effective May 1, 2027.
Comments are due for both revenue procedures on January 20, 2027.