# Retirement Plan Qualification Failures—Self-Correct or Correct with IRS Approval?

Page: https://stenobird.com/podcast/the-legal-podcast-network-6936259/retirement-plan-qualification-failures-self-correct-or-correct-with-irs-approval
Text version: https://stenobird.com/podcast/the-legal-podcast-network-6936259/retirement-plan-qualification-failures-self-correct-or-correct-with-irs-approval.md
Podcast: [The Legal Podcast Network](https://stenobird.com/podcast/the-legal-podcast-network-6936259)
Published: 2026-07-09T13:00:00+00:00
Episode link: https://thelegalpodcastnetwork.podbean.com/e/retirement-plan-qualification-failures%e2%80%94self-correct-or-correct-with-irs-approval/
Audio file: https://mcdn.podbean.com/mf/web/munzpz9uhqrua8y7/Doll_Lank_-_Kathleen_Bass_Full_EP_218ikpw.mp3
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Duration seconds: 1278

## Resource

In this episode of Employee Benefit Plans and Business Sense, hosts Doll Lank and Kathleen Salas Bass from KLB Benefits Law Group delve into the intricacies of retirement plan qualification failures. They discuss the two primary types of failures: operational and plan document failures, and the potential consequences if these issues are not addressed promptly. The hosts explain the IRS’s correction programs, including the Employee Plans Compliance Resolution System (EPCRS), which offers self-correction and voluntary correction options. They highlight the pros and cons of self-correction versus using the Voluntary Correction Program (VCP), emphasizing the importance of timely corrections to avoid costly penalties. The episode provides valuable insights for employers on how to manage these failures effectively, ensuring compliance and minimizing financial risks.

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## Transcript

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