Got Simple? Watch for IRS Letter
"The IRS has been busy auditing SIMPLE IRA plans and discovering a great deal of noncompliance as far as whether or not the plans have been properly amended for EGTRRA. At a recent Mid-Atlantic Pension Liaison meeting, IRS announced their intent to notify all 190,000 employers across the country who maintain SIMPLE IRA plans in an effort to motivate employers to get the amendments done."
Read more in this Benefitsblog post.
