Under Revenue Procedure 2026-33, the IRS has established a new program to help IRA owners and custodians correct certain IRA errors. The IRA Compliance Resolution System (ICRS) allows eligible errors to be corrected through requests to the IRS. Self-correction of IRA errors currently isn’t available under the ICRS. The program also provides a process for requesting waivers of the 60-day rollover deadline for IRAs and certain employer-sponsored retirement plans. Existing automatic waiver and self-certification options remain available for eligible taxpayers. The new program takes effect May 1, 2027. Contact us if you have questions about fixing an IRA error.
