IRS issues Rev. Proc. 2026-34 updating rules employers use to correct 401(k) contribution errors
Key points
- Rev. Proc. 2026-34 is dated October 22, 2026
- It modifies and supersedes Rev. Proc. 2021-30
- It incorporates correction changes from the SECURE 2.0 Act
The IRS issued Rev. Proc. 2026-34, dated October 22, 2026, which modifies and supersedes Rev. Proc. 2021-30 and incorporates correction changes from the SECURE 2.0 Act, enacted December 29, 2022. The procedure governs how employers fix errors such as unprocessed 401(k) deferral elections.
What employers should do
- Review current 401(k) contribution correction procedures against Rev. Proc. 2026-34
- When unprocessed deferral errors occur, confirm the correction method under the new procedure
Policy details
- Jurisdiction
- Federal
- Status
- Final rule
- Effective date
- —
- Employers covered
- US employers sponsoring 401(k) plans
- Official source
- View official source ↗
Original report: 24/7 Wall St. ↗Edited with AI assistance. Facts are based on official sources and original reports. For information only; not legal, immigration or insurance advice.