Instructions For Form 8950 Application For Voluntary Correction Program (VCP) Submission {8950}

Instructions for Form 8950 (Rev. January 2022), Application for Voluntary Correction Program (VCP) Under the Employee Plans Compliance Resolution System (EPCRS), Form 8950 must be filed using Pay.gov as part of a VCP submission in order to request written approval from the IRS for correction of a qualified plan, 403(b) plan, SEP, SARSEP, or SIMPLE IRA that has failed to comply with the applicable requirements of the IRC. The VCP is part of the Employee Plans Compliance Resolution System (EPCRS), currently set forth in Rev. Proc. 2021-30, which is available at IRS.gov/Retirement-Plans/ Correcting-Plan-Errors. A VCP submission includes Form 8950 and all of the other required items stated in Rev. Proc. 2021-30, section 11. Beginning January 1, 2022, representatives can use this form to request a written pre-submission conference with the IRS regarding a potential VCP submission. www.FormsWorkflow.com