Retirement Plan Errors: Prevention and Correction - Webinar Series - ALL THREE
Presented by: Andrew Douglass, J.D., Employee Benefits and Executive Compensation Practice Group, Polsinelli PC
Original Presentation Date: Thursday, September 17 - October 1, 2015 11:00 a.m. - 11:50 a.m. CT
Continuing Education Credits: 1 NIPA CPE Each; 1 ERPA CPE Each
In a perfect world, retirement plans would be administered according to plan terms and the law. However, because of increasingly complex statutory requirements, mistakes happen! In this webinar series, you will learn how to fix plan mistakes and avoid future errors. Andrew Douglass, J.D. will cover:
- How to Avoid Mistakes – TPAs and plan sponsors together can reduce the probability of errors by setting up procedures and conducting an annual “self-audit” of their retirement plan to make sure the plan is being administered correctly.
- Correcting Errors under SCP – When errors occur, what common mistakes can be self-corrected without IRS involvement, how are those mistakes corrected (including examples), and what are the requirements to use the program?
- Correcting Errors under VCP and Audit CAP – When self-correction is not available, other options include voluntary correction with IRS approval (VCP), and correction during audit under a closing agreement (Audit CAP).