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EPCRS 2019: What’s New and Different? [2019]
Presentor: David Schultz Recorded Date: 7/9/2019 Duration: 60 Min.

Description

The 2018 and 2019 versions of the Employee Plans Compliance Resolution System incorporated significant changes to the plan correction program in terms of the types of failures that may be self-corrected and the process for filing under VCP. This special 60 minute program will bring you up to date on the key changes in EPCRS over the last couple years.

Topics include:
  • Effective dates
  • 2018 and 2019 changes
  • VCP Fee Structure and treatment as User Fees
  • Pay.gov website requirement for VCP
  • Self-correction of certain loan failures
  • Self-correction of certain amendment/document failures
  • Changes to Audit CAP sanctions
  • Changes to Favorable Letter requirement for self-correction
  • Elimination of determination letter submission on VCP submission
Prerequisites:

There are no prerequisites or other advanced preparation for this program. Attendees should have a general familiarity with the Employee Plans Compliance Resolution System, and 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 the seminar, you should be able to:

  • List the major changes in EPCRS
  • Advise a client regarding the risks of various correction choices
  • Explain the types of participant loan failures that may be self-corrected under the new procedures
  • Locate VCP forms and fees
  • Determine the new required method for completing a VCP submission

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