Plan X allows participant loans, but prohibits the taking of a new loan in the same calendar year that an outstanding loan is paid off. X takes a loan in 2000 and pays it off in 2003. In 2003, x requests and obtains a new loann. This is a qualification issue since there is a violations of the plan's terms. However, it does not implicate Section 72(p). Any suggestions on how to correct this?

Self-correct under Rev. Proc. 2003-44?