The IRS has created what it calls a “new Web-based tool to help small business owners determine which tax-favored pension plan bests suits their needs and how to keep their plans in compliance.”
The IRS Retirement Plan Navigator has links to “Choose a Plan,” “Maintain a Plan,” or “Correct a Plan.” I especially like the Plan Comparison Table, which is a chart of various plans and the rules that apply to each of them.
Although the IRS says that the purpose of the website is to help small business owners make determinations regarding their plans, I think it’s a good idea for small business owners to contact an attorney who specializes in this area, as mistakes can be quite costly.