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The Dirty Dozen 2019: Correcting Common Errors [2019]
Date: 9/23/2019 Start Time: 12:00 PM (ET) Duration: 100 Min.

Description

Mistakes happen. No plan is perfect. But no matter how mistakes happen, things have to be put right or the plan is at serious risk. This web seminar takes an in-depth look at the dirty dozen, the most common retirement plan compliance mistakes. The IRS has identified many of these as being frequent errors they encounter in audits. We examine what the IRS has said and why these errors happen, and look at strategies for both prevention and cure.

Topics include:
  • Correction Program Fundamentals
    • EPCRS (IRS)
    • VFCP (DOL)
    • DFVC (Late 5500)
  • Failed ADP/ACP Tests
  • Letting Employees in Too Early (or Letting in Employees Who Should Have Been Excluded Altogether)
  • Deferral Errors and Letting Employees in Too Late
  • Incorrect Withholding (Wrong Amount or Not At All)
  • Failure to Withhold Loan Repayments
  • Late Deposits
  • Computation Errors on Distribution
  • Late Required Minimum Distributions
  • Invalid Hardship Distributions
  • Failure to Give Notices (Especially Safe Harbor Notice)
  • Lack of a Fidelity Bond
  • Late Amenders
Prerequisites:

There are no prerequisites or other advance preparation for this program. Attendees should have a minimum of two years of experience in working with qualified plans.

Level: Intermediate
Instructional Delivery Method
Group – Internet-Based

NASBA Field of Study: Taxes

Speaker: David Schultz, J.D.

Objectives: After attending this Web seminar, an attendee should be able to:

  • Explain and use the various IRS correction programs
  • Correct classify plan qualification failures
  • Propose a correction for a given failure

How to participate

Please connect at least 10 minutes prior to the event to troubleshoot any issues. You will need a phone and internet access. The graphics presentation and illustrations will be viewed via the web connection, while the presenter's audio portion will be via the telephone. Important Note: The user registrant must be logged in via the internet for CE purposes. Select the "Fees" link on the right side menu of this page for more information.

System Requirements for Webex

WebEx supports both Windows and Mac operating systems. For Windows, we recommend using Internet Explorer 11 or Microsoft Edge browsers. For Mac, we recommend using Google Chrome or Mozilla Firefox browsers. For the easiest connection to the event without the need to download any additional software, try the new Webex web app by clicking on the "Join by browser" link below the login fields. Then connect by telephone as prompted.

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