The Internal Revenue Service (IRS) announced a new pilot for retirement plans that became effective in June 2022. The 90-Day Pre-Examination Compliance Pilot gives retirement plan sponsors, who have been notified by IRS letter that their plan has been selected for an examination, 90 days to review the plan document and operations to determine if the document and operations satisfy all tax law requirements. The IRS did not say how long the pilot program will last.

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Tags: Audits, compliance, employee benefits, GT Insight, IRS, tax law
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Photo of Terry L. Moore˘ Terry L. Moore˘

As director of employee benefits services in the executive compensation and employee benefits department, Terry L. Moore provides consulting services on a wide range of employee benefit issues. She has wide-ranging experience with qualified and nonqualified deferred compensation plans, multiple employer plans, Employee

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As director of employee benefits services in the executive compensation and employee benefits department, Terry L. Moore provides consulting services on a wide range of employee benefit issues. She has wide-ranging experience with qualified and nonqualified deferred compensation plans, multiple employer plans, Employee Stock Ownership Plans (ESOPs) and 403(b) plans, including the operational review of such plans in order to comply with requirements for correction under the Internal Revenue Service’s Employee Plans Compliance Resolution Program and DOL Voluntary Fiduciary Correction Program.

Terry was a tax law specialist in the Employee Plans Technical and Actuarial Division in the national office of the IRS with responsibility for issuing opinion letters on master and prototype plans compliance of legal regulations and for regulatory and technical questions regarding the application of law in the form of issuing private letter rulings and general information letters. She instructed and trained other tax law specialists and revenue agents in employee plan matters, including the auditing of qualified plans. She was also a manager in the IRS District Office, Income Tax Examination Division where she held the position of classroom and on-the-job instructor.

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