Attachment 1: Draft Participant Survey
Self-Correction Program Questionnaire:
Please check the boxes that apply to you.
Attorney Accountant CPA Actuary Enrolled actuary
Enrolled agent In house counsel Plan Sponsor
Other ______________________
2. Have you ever used the IRS’ Self-Correction Program (SCP)? Yes No
2a. If you answered “Yes” to Question 2, please go to Question 3.
If you answered “No” to question 2, please indicate why (check all that apply)
Not aware of program
Egregious operational failure
Lack of reliance on method of correction
Plan did not have established practices and procedures in place
The operational failure is significant and the plan does not have a favorable
letter
The operational failure is significant and the plan or plan sponsor is under exam
The operational failure is significant and has not been corrected within the
required correction period (generally 2 years from the end of the year in which the failure occurred)
Difficulty ascertaining whether the plan failure(s) in the aggregate are significant
or insignificant
Other _______________________________________________________
_______________________________________________________
If you answered “No” to question 2 and indicated your reason why in Question 2a, please stop here and press the “Submit” button. Thank-you for taking the SCP Questionnaire.
(If you checked “Plan Sponsor” in question 1, please skip to question 4.)
Think back over the past 6 months. Approximately how many of your clients corrected a qualification failure under the SCP during that time period? Please check only one box.
None
1
2-3
4-6
7-10
more than 10
Think back over the past 6 months. Approximately how many qualification failures have you or your clients corrected under the SCP during that time period? (For purposes of this questionnaire, a failure affecting multiple employees is counted as a single failure.) Please check only one box
None
1-5
6-15
16-25
more than 25
Think back to the beginning of the program (1998), approximately how many qualification failures have you corrected under the SCP during that time period? (For purposes of this questionnaire, a failure affecting multiple employees is counted as a single failure.) Please check only one box.
1-20
20-40
More than 40
. When using SCP, which type of correction method(s) have you used?
Sample correction methods in Appendix A of Revenue Procedure 2006-27, to the extent applicable
Sample correction methods in Appendix B of Revenue Procedure 2006-27, to the extent applicable
Why do you use SCP? (Check all that apply)
Flexibility
Ease of administration
Voluntary Correction Program fee is too high
Other _____________________________________________________
_____________________________________________________
____________________________________________________
What percentage of the time do you use SCP when operational failure(s) are discovered and corrected? Please check one box.
1-25%
26-50%
51-75%
76-100%
From your experience with SCP, what is the approximate average number of failures corrected per client per year? Please check one box.
1
2-3
4-6
7-9
10 or more
Overall, what specific failures have you corrected under SCP?
Operational failures (Check which one applies)
Exclusion of eligible employee(s)
§ 401(a)(9) – Required minimum distributions
§ 401(a)(11), § 411(a)(11), § 417 – Spousal/Participant consent
§ 401(a)(17) – Compensation limit
§ 401(a)(30), §402(g) – Distribution of excess elective deferrals
§ 401(k)(3) – ADP test or § 401(m)(2) – ACP test
§ 411 - Vesting
§ 415 – Excess annual additions
§ 416 – Top-heavy benefit
Correction by Amendment (Appendix B, Sec. 2.07 of Rev. Proc. 2006-27) for:
§ 401(a)(17)
Hardship distributions
Plan loans
Early inclusion of otherwise eligible employee
Other ________________________________________________
________________________________________________
________________________________________________
This concludes the questionnaire. Thank you for your participation.
| File Type | application/msword |
| File Title | Office of Management and Budget |
| Author | 9f2hb |
| Last Modified By | qhrfb |
| File Modified | 2008-05-07 |
| File Created | 2008-05-07 |