It is not uncommon for a business owner, without proper advice, to believe that their plan never needed to be updated. They often learn of the restatement requirement when they attempt move their assets or services from one provider to another or when they attempt to distribute their assets as they retire.

If you are in this situation, you were likely advised that your plan is not qualified and, as a result, the IRS can assess substantial sanctions or even retroactively disqualify your plan and disallow your deductions.

Fortunately, this failure can be remedied through the IRS correction programs. We have helped many business owners, like you, bring their plans back into compliance quickly and easily.

Quick action is important. While we can help whether, or not, the IRS or Department of Labor has already contacted you regarding this issue, the costs, penalties, and time involved, increase substantially after contact. Therefore, if you have not been contacted yet, you should correct the issue quickly. If you have been contacted already, to limit any penalties that may be assessed, you should retain an experienced advocate to correct the issue quickly and negotiate on your behalf.