Insights

IRS Updates Form 8950, Application for VCP Submissions


On Nov. 29, 2017, the IRS released a revised Form 8950, which facilitates filings under the Voluntary Correction Program (VCP). As background, employers are able to use the Employee Plans Compliance Resolution System (EPCRS) to fix certain plan failures by filing a VCP application. Form 8950 has been updated to recognize the changes made to the EPCRS in Revenue Procedure 2016-51.

More specifically, the updated form reflects changes in the questions and information on the determination letter applications and cycles, the Audit CAP program and VCP compliance fees.

Any employers seeking to make VCP submissions to the IRS should use the updated Form 8950.

Form 8950 »
Form 8950 Instructions »