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What does CAP stand for?

CAP stands for Closing Agreement Program (IRS)

This definition appears frequently and is found in the following Acronym Finder categories:

  • Business, finance, etc.

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We have 1489 other meanings of CAP in our Acronym Attic

Samples in periodicals archive:

Recognizing that disqualification destroys the ability of a plan to provide retirement benefits, the IRS has established an Employee Plans Compliance Resolution System, which has three methods to address errors in your plan: * Audit Closing Agreement Program (Audit CAP) * Self-Correction Program (SCP) * Voluntary Correction Program (VCP) Correcting Under Audit CAP Under Audit CAP, the IRS will re-qualify your plan if you: * Fix the problems the IRS has discovered.
Walk-In Closing Agreement Program (Walk-In CAP), which enables a sponsor to voluntarily disclose and correct qualification defects that do not qualify under the VCR program, with the payment of a compliance correction fee based on a new fee schedule.