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Form 14568I: Model VCP Compliance Statement - Schedule 9:Limited Safe Harbor Correction by Plan Amendment
IRS Form 14568-I is a Model VCP Compliance Statement - Schedule 9: Limited Safe Harbor Correction by Plan Amendment, used to document failures to comply with the Internal Revenue Code (IRC). The form revision date on file is 09/17.
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IRS Form 14568I - Model VCP Compliance Statement - Schedule 9:Limited Safe Harbor Correction by Plan Amendment
IRS Form 14568-I is a Model VCP Compliance Statement - Schedule 9: Limited Safe Harbor Correction by Plan Amendment, used to document failures to comply with the Internal Revenue Code (IRC). The form revision date on file is 09/17.
Risk Radar
Scan points- 1Ensure you include the plan name, Applicant’s EIN, and plan number on *every* page of Form 14568-I.
- 2Failing to check all applicable IRC Section 401(a)(17) failure boxes on Part I.
- 3Omitting the required Plan name, EIN, or plan number from any page of Form 14568-I.
- 4Not detailing the Proposed Method of Correction for a listed failure.
- 5Entering incorrect 'Plan Year' dates when reporting failures in Section I.
Plain English
This form allows a plan sponsor to report specific ways their retirement plan failed to follow IRS rules and describes how they are fixing those errors. It details corrections related to things like improper allocation of contributions or issues with employee eligibility dates. Filing this shows the IRS that the plan is taking steps to become compliant.
Submission Date
- Filing date: 2017-09-16 08:03:24
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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What this form is for
- Use this form when a plan has failed to comply with the Internal Revenue Code (IRC) and requires a Limited Safe Harbor Correction by Plan Amendment.
- Do not use it when there is no specific failure to comply, or if the correction method does not involve an amendment to provide for past failures.
- Check Form 14568-I instead when documenting these types of compliance failures.
Form selector
Use this form or another form?
Plan has contributed/allocated funds improperly under IRC Section 401(a)(17)
The failure involves contributions or forfeitures allocated above the limit.
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Hardship distributions were made without plan terms allowing them
This triggers a correction to retroactively amend the plan to allow those specific hardship distributions.
✓ Check before you continue
Plan loans were issued despite plan terms not authorizing them
The failure requires amending the plan to reflect that participant loans occurred, provided IRC Section 72(p) was met.
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Deadline or filing window
The filing trigger is when a failure occurs in the plan. The form requires entering specific 'Plan Year' dates where these failures happened. No extension period is mentioned in the source excerpt.
Checklist
What you need before filling it out
IRC Section 401(a)(17) Failure
Plan Year, Excess Amount, Participants Affected · Section I (p.1)
Proposed Method for IRC 401(a)(17) Correction
Fraction Used, Total Required Contribution (Before Earnings Adjustment) · Section I (p.1)
Hardship Distribution Failure
Plan Year, # of Distributions, HCE/NHCE Amounts · Section B (p.3)
Plan Loan Failure
Plan Year, Total Loans, HCE/NHCE Loans · Section C (p.3)
Former Employees Affected
Checkbox selection on p.2 · Section II (p.2)
Before you submit
- 1Ensure the plan name, Applicant’s EIN, and plan number are present on every page of Form 14568-I.
- 2Verify that the specific IRC failure(s) (A, B, or C) have been checked as applicable in Section I.
- 3If correcting an IRC 401(a)(17) failure, confirm the description of the proposed method aligns with contributing based on employee compensation multiplied by a fraction.
- 4If correcting hardship distributions, ensure the corrective amendment's effective date is entered in Section B.
- 5Confirm that for Plan Loan failures, all loans satisfied the requirements of IRC Section 72(p) before proceeding.
- 6Check the box on page 2 to indicate whether former employees are affected by the failure.
- 7If applicable, ensure any attached pages describing earnings adjustments are labeled correctly and include plan details.
How to file this form
- 1Complete Section I (Identification of Failure(s) and Proposed Method(s) of Correction), detailing all relevant plan years, amounts, and participant counts.
- 2Fill out the required tables for IRC 401(a)(17) correction (p.1) or Hardship/Loan failures (p.3), ensuring you specify the proposed method details.
- 3Complete Section II on page 2 by checking if former employees are affected and detailing any necessary corrective contribution methods.
- 4Review all sections, confirm that the plan name, EIN, and plan number appear on every page, and sign/date the form before mailing.
Known limitations
- 1The form applies to failures to comply with the Internal Revenue Code (IRC) regarding a plan identified by the filer.
- 2Section I covers failure(s) where an employee's contribution equals their plan compensation multiplied by a fraction, and the plan will be retroactively amended.
- 3If hardship distributions were made but the written terms did not provide for them, Section IB applies (Hardship Distribution Failure).
- 4If minimum age or service requirements were treated as eligible prior to entry date, Section IC applies.
Field map
Compact field-by-field guide
General Info
2 items
Full legal name and taxpayer identification number (SSN or EIN).
Current mailing address.
Details
2 items
Complete all applicable sections of this form according to the official IRS instructions.
Enter the relevant dollar amount if this form involves tax calculation.
Certification
1 items
Read and acknowledge any certifications required by this form.
Signatures
1 items
Sign and date. Unsigned forms cannot be processed.
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Fillable formOpen in Editor->The current edition is Form 14568-I (Rev. 9-2017), dated September 2017. The source does not point to a specific page listing the latest information, but it provides details across pages 1 through 3.
What changed or needs a fresh check
- Edition date — confirm the revision date reads 09/17.
- Form Number — confirm the form is Form 14568-I.
- Catalog Number — confirm the number is 66156F.
- Plan Name/EIN/Number — ensure these are included on every page of the compliance statement.
Quick Facts
Downloads
After you file
- 1Include the plan name, Applicant’s EIN, and plan number on every page of Form 14568-I.
- 2Keep copies of all amendments used to correct the failure(s) (required enclosure).
- 3Keep a copy of the plan document in effect prior to any corrective amendments (required enclosure).
- 4If filing for an IRC Section 401(a)(17) failure in a defined contribution plan, include specific calculations for each affected employee or a representative sample.
- 5When correcting an IRC Section 401(a)(17) failure, the resulting additional amount will be adjusted for earnings from the end of the plan year through the date of the corrective contribution.
Sources
- SRCForm 14568-I is titled Model VCP Compliance Statement - Schedule 9: Limited Safe Harbor Correction by Plan Amendment (Instructions p.1).
- SRCThe form revision date on file is September 2017 (Instructions p.1).
- SRCOn Form 14568-I, the plan name, Applicant’s EIN, and plan number must be included on each page (Instructions p.1).
- SRCFor IRC Section 401(a)(17) failure, the contribution amount is based on a fraction derived from the largest improperly allocated amount vs. the limit under IRC Section 401(a)(17) for that year (Instructions p.1).
- SRCThe resulting additional amount will be adjusted for earnings from the end of the plan year through the date of the corrective contribution (Instructions p.2).
- SRCIf a Hardship Distribution Failure occurs, the failure is corrected by retroactively amending the plan to provide for the distributions made (Instructions p.3).
- SRCThe form allows checking whether former employees are affected by the failure (Instructions p.2).
- SRCFor Section IC, the minimum age or service requirements and plan entry date must be noted for the years of the failure (Instructions p.4).
Common confusion points
What do I enter in the 'Plan Year' section if there are multiple failures?
You must enter all years in which the specific failure occurred (e.g., Section IA, IB, or IC).
How is the earnings adjustment calculated for a 401(a)(17) failure?
The additional amount is adjusted for earnings from the end of the plan year through the date the corrective contribution is made.
Do I need to check 'Affected former employees' if some were deceased?
If so, contributions will be made on behalf of the affected former employee or their estate/known beneficiary.
What happens if an affected former employee can’t be located after mailing?
The plan sponsor must take specified actions; if still not found, corrective contributions will be made later when they are located.
For a Hardship Distribution Failure (Section IB), what date do I use for the effective amendment?
You must enter the specific effective date of the corrective amendment in Section IB.
When filling out Section IC, how do I break down participants affected by the failure?
You must list the number of participants broken down by type: Highly Compensated Employee (HCE) or Nonhighly Compensated Employee (NHCE).
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- Form 14568-I itself allows for corrections by retroactively amending the plan.
Questions about IRS Form 14568I
What is IRS Form 14568I used for?
This form allows a plan sponsor to report specific ways their retirement plan failed to follow IRS rules and describes how they are fixing those errors. It details corrections related to things like improper allocation of contributions or issues with employee eligibility dates. Filing this shows the IRS that the plan is taking steps to become compliant.
Who must file IRS Form 14568I?
The plan sponsor must file Form 14568-I, as it reports failures occurring with respect to a specific retirement plan identified on the form.
What information does IRS Form 14568I require?
Part I identifies the failure(s) and proposed correction methods. The form collects details such as the plan year, amount of allocations in excess of IRC Section 401(a)(17), and employee counts affected by the failure.
When is IRS Form 14568I due?
The source does not state a specific filing deadline; however, it requires entering the plan years in which the failure occurred on the form.
Where do I file IRS Form 14568I?
The form must include the plan name, Applicant’s EIN, and plan number on each page. The source indicates this is for use with Catalog Number 66156F.
How do I complete IRS Form 14568I?
First, fill out Section I by checking the applicable failure(s) and providing details for each. Next, complete the relevant tables (e.g., IRC Section 401(a)(17) failures). Finally, sign the form before sending it to the IRS.
What happens if IRS Form 14568I is filed incorrectly?
While not explicitly stating a penalty amount, failing to correctly document these failures via Form 14568-I means the plan lacks documented proof of its correction efforts under VCP rules.
What do I enter in the 'Plan Year' section if there are multiple failures?
You must enter all years in which the specific failure occurred (e.g., Section IA, IB, or IC).
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