Employee Plans Compliance Resolution System (EPCRS)

Forms and Documents

Document	Type	Status	Availability
Form 8951 Form 8951--Compliance Fee for Employee Plans Voluntary Correction Program	Form and Instruction	Modified	Repair queued
Form 8950 Form 8950--Application for Voluntary Correction Program (VCP)	Form	Modified	Repair queued
Form 14568 Revenue Procedure 2015-27 which includes Forms 14568, 14568-A thru I	Form	Modified	Available
Supporting Statement.doc	Supporting Statement A	Uploaded 2016-03-03	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
218111	Revenue Procedure 2015-28		New
203817	Form 8951--Compliance Fee for Employee Plans Voluntary Correction Program	Form and Instruction	Modified
203812	Form 8950--Application for Voluntary Correction Program (VCP)	Form	Modified
19094	Revenue Procedure 2015-27 which includes Forms 14568, 14568-A thru I	Form	Modified

ICR Details

OMB Control No: 1545-1673	ICR Reference No: 201509-1545-004
Status: Historical Active	Previous ICR Reference No: 201503-1545-022
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Employee Plans Compliance Resolution System (EPCRS)
Type of Information Collection: Reinstatement with change of a previously approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 08/17/2016
	Date Received in OIRA: 04/27/2016
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2019	36 Months From Approved
Responses	15,375	0	0
Time Burden (Hours)	190,941	0	0
Cost Burden (Dollars)	0	0	0

---

Abstract: The information requested in Revenue Procedure 2015-27 is required to enable the Internal Revenue Service to make determinations on the issuance of various types of closing agreements and compliance statements. The issuance of the agreements and statements allow individual plans to maintain their tax-qualified status. As a result, the favorable tax treatment of the benefits of the eligible employees is retained. Applicants under the Voluntary Correction Program (VCP) must file Forms 8950 and 8951, and the appropriate scheduled(s) to the applicable part of the model compliance statement, in order to request written approval from the IRS for a correction of a qualified plan that has failed to comply with the requirements of the Internal Revenue Code.

---

Authorizing Statute(s): US Code: 26 USC 401 Name of Law: Qualified pension, profit-sharing, and stock bonus plans
   US Code: 26 USC 403 Name of Law: Taxation of employee annuities
   US Code: 26 USC 404 Name of Law: Deduction for contributions of an employer to anemployees' trust or annuity plan and compensation u
   US Code: 26 USC 501 Name of Law: Exemption from tax on corporations, certain trusts, etc.
   US Code: 26 USC 405 Name of Law: Individual retirement accounts
  

Citations for New Statutory Requirements: None

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	80 FR 37755	07/01/2015
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 24942	04/27/2016
Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 4

IC Title	Form No.	Form Name
Revenue Procedure 2015-28
Revenue Procedure 2015-27 which includes Forms 14568, 14568-A thru I	14568, 14568-B, 14568-E, 14568-D, 14568-F, 14568-G, 14568-A, 14568-C, 14568-H, 14568-I	Appendix C Part I Model VCP Submission Compliance Statement ,   Appendix C Part II Schedule 1 Interim and Certain Discretionary Nonamender Failures ,   Appendix C Part II Schedule 2 Nonamender Failures (other than those to which Schedule 1 applies) and Failure to Adopt a 403(b) Plan Timely ,   Appendix C Part II Schedule 3 SEPs and SARSEPs ,   Appendix C Part II Schedule 4 Simple IRAs ,   Appendix C Part II Schedule 5 Plan Loan Failures (Qualified Plans and 403(b) Plans) ,   Appendix C Part II Schedule 6 Employer Eligibility Failure (§ 401(k) and 403(b) Plans only) ,   Appendix C Part II Schedule 7 Failure to Distribute Elective Deferrals in Excess of the § 402(g) Limit ,   Appendix C Part II Schedule 8 Failure to Pay Required Minimum Distributions Timely under § 401(a)(9) ,   Appendix C Part II Schedule 9 Correction by Plan Amendment (in accordance with Appendix B)
Form 8950--Application for Voluntary Correction Program (VCP)	8950	Application for Voluntary Correction Program (VCP) under the Employee Plans Compliance Resolution System (EPCRS)
Form 8951--Compliance Fee for Employee Plans Voluntary Correction Program	8951	Compliance Fee for Application for Voluntary Correction Program (VCP)

---

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	15,375	0	0	0	1,075	14,300
Annual Time Burden (Hours)	190,941	0	0	0	0	190,941
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The collection of information, in Rev. Proc.2015-28, is in sections 4.01 and 4.02. This information is required to enable the Commissioner, Tax Exempt and Government Entities Division of the Internal Revenue Service to consider the issuance of various types of closing agreements and compliance statements. This information will be used to issue closing agreements and compliance statements to allow individual plans to continue to maintain their tax favored status. As a result, favorable tax treatment of the benefits of the eligible employees is retained. The addition of these new procedures will result in an increase in the number of responses by 1,075.

---

Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

---

Common Form ICR:  No

---

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 04/27/2016

---