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IRS Updates Key Web Resources
The IRS has revised several reference guides for plan sponsors. The guides represent practical and helpful resources for both new and experienced sponsors. Updated Web pages include:
- A Plan Sponsor’s Responsibilities, which lists tips to help sponsors operate retirement plans properly. Learn more online at http://tinyurl.com/IRSSponsorRespon.
- Internal Controls Protect Your Retirement Plan, at http://tinyurl.com/IRSInternalControls. This addresses the need for controls to prevent plan errors.
- Details about internal checks in Policies, Procedures and Internal Controls Self-Audit. Included are specific questions and topics to address in conducting internal reviews. Seehttp://tinyurl.com/IRSControlsSelfAudit.
Also revised was the comprehensive 401(k) Plan Fix-It Guide, which is an excellent source of information about finding and correcting plan mistakes. To view the new edition go tohttp://tinyurl.com/IRS401kFixItGuide
For plan sponsor use only, not for use with participants or the general public. This information is not intended as authoritative guidance or tax or legal advice. You should consult with your attorney or tax advisor for guidance on your specific situation.
Kmotion, Inc., P.O. Box 1456, Tualatin, OR 97062; 877-306-5055; www.kmotion.com
© 2014 Kmotion, Inc. This newsletter is a publication of Kmotion, Inc., whose role is solely that of publisher. The articles and opinions in this publication are for general information only and are not intended to provide tax or legal advice or recommendations for any particular situation or type of retirement plan. Nothing in this publication should be construed as legal or tax guidance; nor as the sole authority on any regulation, law or ruling as it applies to a specific plan or situation. Plan sponsors should consult the plan’s legal counsel or tax advisor for advice regarding plan-specific issues.