Is my SEP or SIMPLE IRA Plan Eligible for

Chart 2 Eligibility for the Self-Correction Program ("SCP") SEPs under Code section 408(k) and SIMPLE IRA Plans under Code section 408(p) Start here Does the failure relate to the diversion/misuse of assets or an ATAT*? Is the failure a non-egregious Operational Failure? Does the plan have established practices and procedures? No Yes Yes Is the Operational Failure insignificant? Yes Does the Plan have a Favorable Letter? Yes Eligible for SCP Yes No No No No Not eligible for EPCRS Not eligible for SCP * In the event that the SIMPLE IRA, the SEP, or the plan sponsor has been a party to an Abusive Tax Avoidance Transaction (ATAT), SCP is not available to correct any Operational Failure that is directly or indirectly related to the ATAT.