Common use of Effect of EPCRS on Qualified Plans Clause in Contracts

Effect of EPCRS on Qualified Plans. For a Qualified Plan, if the eligibility requirements of section 4 are satisfied and the Plan Sponsor corrects a Qualification Failure in accordance with the applicable requirements of SCP in section 7, VCP in sections 10 and 11, or Audit CAP in section 13, the Service will not treat the Qualified Plan as failing to meet □ 401(a). Thus, for example, if the Plan Sponsor corrects the failures in accordance with the requirements of this revenue procedure, the plan will be treated as a qualified plan for purposes of applying □ 3121(a)(5) (FICA taxes) and □ 3306(b)(5) (FUTA taxes).

Effect of EPCRS on Qualified Plans. For a Qualified Plan, if the eligibility requirements of section 4 are satisfied and the Plan Sponsor corrects a Qualification Failure in accordance with the applicable requirements of SCP in section 7, VCP in sections 10 and 11, or Audit CAP in section 13, the Service will not treat the Qualified Plan as failing to meet □ § 401(a). Thus, for example, if the Plan Sponsor corrects the failures in accordance with the requirements of this revenue procedure, the plan will be treated as a qualified plan for purposes of applying □ § 3121(a)(5) (FICA taxes) and □ § 3306(b)(5) (FUTA taxes).

Effect of EPCRS on Qualified Plans. For a Qualified Plan, if If the eligibility requirements of section 4 are satisfied and the Plan Sponsor corrects a Qualification Failure in accordance with the applicable requirements of SCP APRSC in section 7, VCP the VCR program in sections 10 and section 10, Walk-in CAP in section 11, or Audit CAP in section 1314, the Service will not treat the Qualified Plan as failing to meet □ 401(a)disqualified on account of the Qualification Failure. Thus, for example, if If the Plan Sponsor corrects the failures in accordance with the requirements of this revenue procedure, procedure the plan will be treated as a qualified plan for purposes of applying □ § 3121(a)(5) (FICA taxes) and □ 3306(b)(5for purposes of applying § 3306(a)(5) (FUTA taxes).

Effect of EPCRS on Qualified Plans. For a Qualified Plan, if the eligibility requirements of section 4 are satisfied and the Plan Sponsor corrects a Qualification Failure in accordance with the applicable requirements of SCP in section 7, VCP in sections 10 and 11, or Audit CAP in section 13, the Service will not treat the Qualified Plan as failing to meet □  401(a). Thus, for example, if the Plan Sponsor corrects the failures in accordance with the requirements of this revenue procedure, the plan will be treated as a qualified plan for purposes of applying □  3121(a)(5) (FICA taxes) and □  3306(b)(5) (FUTA taxes).

Effect of EPCRS on Qualified Plans. For a Qualified Plan, if the eligibility eligi- bility requirements of section 4 are satisfied satis- fied and the Plan Sponsor corrects a Qualification Failure in accordance with the applicable requirements of SCP in section 7, VCP in sections 10 and 11, or Audit CAP in section 13, the Service will not treat the Qualified Plan as failing to meet □ § 401(a). Thus, for example, if the Plan Sponsor corrects the failures in accordance with the requirements of this revenue procedure, the plan will be treated as a qualified plan for purposes of applying □ § 3121(a)(5) (FICA taxes) and □ § 3306(b)(5) (FUTA taxes).