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June 23, 2010 at 08:00 PM
The Internal Revenue Service is hoping more of the 1,200 recipients of a 401(k) compliance check questionnaire will complete the questionnaire.
The IRS sent 1,200 of the questionnaires to retirement plan sponsors in May.
On June 18, 177 sponsors had completed the questionnaire and 183 sponsors had partially completed it, officials say.
The IRS Employee Plans Compliance Unit will use questionnaire responses to “make future audits more productive and focus on necessary education, outreach, guidance and enforcement efforts,” officials say in a “follow-up” to “common questions” about the 401(k) compliance check.
