On October 22, 2026, Treasury and the IRS announced two revenue procedures that change how retirement plan and IRA mistakes can be fixed.

For employers that sponsor retirement plans

• Revenue Procedure 2026-34 expands and restructures the Employee Plans Compliance Resolution System (EPCRS), replacing Rev. Proc. 2021-30.
• It applies to qualified plans, 403(b) plans, SEPs, and SIMPLE IRA plans, and is effective October 22, 2026.

For IRA owners and custodians

• Revenue Procedure 2026-33 creates a new IRA Compliance Resolution System (ICRS) for correcting certain inadvertent failures caused by service-provider errors. It takes effect May 1, 2027.
• ICRS adds a process for requesting waivers of the 60-day rollover deadline. Those requests now go through private letter rulings and will move to ICRS during 2027 and 2028.
• Existing automatic waiver and self-certification procedures remain available at no cost.

How we can help: If your 401(k), SIMPLE IRA, or SEP has a missed deposit, late deferral, or other error, we can help you find the right correction path. Contact Teddy Accounting Services to talk it through.

Source: IRS news release IR-2026-126