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Official form guide
Form 14568: Model VCP Compliance Statement
IRS Form 14568 is the Model VCP Compliance Statement used by plan sponsors to report voluntary compliance failures for a retirement plan. The form is revised 7‑2023 and requires the plan name, EIN and plan number on each page.
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IRS Form 14568 - Model VCP Compliance Statement
IRS Form 14568 is the Model VCP Compliance Statement used by plan sponsors to report voluntary compliance failures for a retirement plan. The form is revised 7‑2023 and requires the plan name, EIN and plan number on each page.
Risk Radar
Scan points- 1Omitting the plan name, EIN, or plan number from any page of the statement.
- 2Failing to include the plan name on each page of the compliance statement.
- 3Using the applicant’s Social Security Number instead of the required EIN.
- 4Omitting the plan number on the form or any attached pages.
- 5Not labeling the attachment as “Section II. Applicant’s Description of Failures.”
Plain English
Form 14568 lets a plan sponsor disclose any failures in its retirement plan and ask the IRS for relief from certain excise taxes and reporting rules. It also details how loan‑related failures will be treated for Form 1099‑R reporting.
Submission Date
- Filing date: 2023-08-01 22:11:56
- 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 sponsor must report voluntary compliance failures and request relief for plan loan failures under IRC Section 72(p).
- Do not use it when the issue is determining whether the written plan itself complies with IRC Section 403(b) requirements.
- Check Form 1099‑R instead when you need to report actual distributions rather than request a VCP waiver.
Form selector
Use this form or another form?
Requesting relief to avoid reporting deemed distributions on Form 1099‑R
IRS must know whether the distribution will be reported in the year of correction
✓ Confirm the relief request language matches the compliance statement
Reporting a deemed distribution that must be included on Form 1099‑R
The distribution is required to be reported for tax purposes
✓ Verify the participant’s information and loan details
Seeking to maintain pre‑approved status while filing a corrective amendment
The amendment must not cause loss of pre‑approved status or affect the six‑year remedial amendment cycle
✓ Ensure no plan document changes are made
Deadline or filing window
Not stated in the official source.
Checklist
What you need before filling it out
Section I – Identifying Information
Applicant’s name, EIN, plan number, plan name · Form 14568 header fields
Section II – Description of Failures
List of each failure, numbered · Attachments labeled “Section II. Applicant’s Description of Failures”
Section III – Proposed Method of Correction
Description per failure, schedule list · Attachments labeled “Section III. Applicant’s Description of the Proposed Method of Correction”
Section IV – Locate and Notify Former Employees
Methods description or statement of no affected employees · Attachment labeled “Section IV. Applicant’s Proposed Procedures to Locate and Notify Former Employees or Beneficiaries”
Section V – Revision to Administrative Procedures
Explanation of cause and preventive measures · Attachment labeled “Section V. Applicant’s Proposed Revision to Administrative Procedures”
Before you submit
- 1Enter the plan name on the top of each page.
- 2Enter the Applicant’s EIN (do not use SSN).
- 3Enter the plan number on every page.
- 4List each failure in Section II and number them sequentially.
- 5Attach a labeled “Section II. Applicant’s Description of Failures” page for each failure.
- 6Describe the correction method for each failure in Section III.
- 7If using Form 14568 Schedules, list the schedules included.
- 8Provide proposed procedures to locate former employees in Section IV or affirm no affected employees.
- 9Provide a revision to administrative procedures in Section V.
- 10Sign the form where indicated.
- 11Date the signature.
- 12Make a copy for your records.
How to file this form
- 1Complete all identifying fields (plan name, EIN, plan number) on the first page.
- 2Detail each failure in Section II, number them, and attach labeled pages.
- 3Describe the correction method for each failure in Section III and attach any required schedules.
- 4Provide locating/notification procedures in Section IV or affirm no affected employees.
- 5Explain administrative revisions in Section V.
- 6Sign and date the compliance statement.
- 7Mail the completed Form 14568 to the IRS VCP address and retain the mailing receipt as proof of filing.
Known limitations
- 1Does not determine whether the plan document complies with IRC Section 403(b) requirements.
- 2Cannot be used if the plan document or adoption agreement has been modified in a way that would cause loss of pre‑approved status.
- 3Not applicable for loan failures where the IRS does not grant relief for Form 1099‑R reporting.
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->Form 14568 is revised July 2023 (Rev. 7‑2023) as shown on the form header. The source does not reference a separate latest‑information webpage.
What changed or needs a fresh check
- Edition date — confirm the revision reads 7‑2023 as shown on the form header.
- Fee — Not stated in the official source.
- Mailing address — Not stated in the official source.
- Signature — Not stated in the official source.
- Applicant’s EIN format — verify that an EIN is used and SSN is not used, as required.
Quick Facts
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After you file
- 1Keep a complete copy of the filed Form 14568 and all attachments.
- 2Store the copy for at least 7 years.
- 3Monitor for an IRS acknowledgment or determination letter.
- 4If the IRS requests additional information, respond promptly with the requested documents.
- 5Correct any filing errors by submitting an amended Form 14568 with revised attachments.
- 6Retain the mailing receipt and any tracking information.
- 7Update internal compliance records to reflect the corrective actions taken.
Sources
- SRCForm p.1 — revision date shown as (Rev. 7‑2023).
- SRCForm p.1 — requirement to include the plan name, Applicant’s EIN, and plan number on each page.
- SRCForm p.1 — Section I lists Applicant’s name, EIN (do not use SSN), Plan number, Plan name.
- SRCForm p.1 — Section II instructs to list and number each failure separately and label the attachment.
- SRCForm p.1 — Section III instructs to describe the correction method for each failure and specify any Schedules.
- SRCForm p.2 — requests relief regarding reporting deemed distributions on Form 1099‑R and basis treatment.
- SRCForm p.2 — statement that the compliance statement does not constitute a determination of plan compliance with IRC Section 403(b).
- SRCForm p.3 — assurance that the corrective amendment will not cause loss of pre‑approved IRC Section 401(a) or 403(b) status.
- SRCForm p.3 — permission to report deemed distributions on Form 1099‑R in the year of correction.
- SRCForm p.3 — approval line showing Manager, Employee Plans Voluntary Compliance Tax Exempt and Government Entities Division and date.
Common confusion points
Do I need to include the plan name on every attachment?
The instructions repeat the requirement for each page of each section.
→ Verify that the plan name, EIN, and plan number appear at the top of every attached page.
Can I use my Social Security Number instead of EIN?
Section I specifies not to use SSN.
→ Confirm the identifier entered is the employer’s EIN.
Should I report deemed distributions on Form 1099‑R now or wait for IRS approval?
The form includes requests for relief that may change reporting requirements.
→ Check the relief request language in Section II and ensure the desired reporting treatment is stated.
Is a separate Form 14568 Schedule required for each failure?
The instructions say to specify schedules if used, but do not require one per failure.
→ List any schedules you are attaching in Section III.
Will filing this form affect my plan’s pre‑approved status?
The source notes the amendment will not cause loss of status if no document changes are made.
→ Confirm no plan document modifications are included with the filing.
Do I need to sign each attached page?
The source only mentions a signature on the main form.
→ Ensure the signature appears on the main Form 14568 only.
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- Form 14568 — submit an amended compliance statement.
Questions about IRS Form 14568
What is IRS Form 14568 used for?
Form 14568 lets a plan sponsor disclose any failures in its retirement plan and ask the IRS for relief from certain excise taxes and reporting rules. It also details how loan‑related failures will be treated for Form 1099‑R reporting.
Who must file IRS Form 14568?
The plan sponsor (the applicant) must file IRS Form 14568.
What information does IRS Form 14568 require?
Section I collects the applicant’s name, EIN, plan number and plan name; Section II lists each failure; Section VI requests relief from specific excise taxes; and the form includes loan‑relief requests and required attachments.
How do I complete IRS Form 14568?
Complete Section I with the applicant’s name, EIN (not SSN), plan number and plan name, and repeat this information on every page. In Section II, describe each failure on separate numbered lines and attach additional pages labeled “Section II. Applicant’s Description of Failures.” Use Section VI to list any excise‑tax relief requests and attach supporting rationale. Attach loan‑relief narratives as described on page 2, then submit the completed statement.
Do I need to include the plan name on every attachment?
The instructions repeat the requirement for each page of each section. Verify that the plan name, EIN, and plan number appear at the top of every attached page.
Can I use my Social Security Number instead of EIN?
Section I specifies not to use SSN. Confirm the identifier entered is the employer’s EIN.
Should I report deemed distributions on Form 1099‑R now or wait for IRS approval?
The form includes requests for relief that may change reporting requirements. Check the relief request language in Section II and ensure the desired reporting treatment is stated.
Is a separate Form 14568 Schedule required for each failure?
The instructions say to specify schedules if used, but do not require one per failure. List any schedules you are attaching in Section III.
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