NOTICE OF CHANGE FOR SEMINAR REGISTRATIONS:
To register for Relius Education seminars and conferences, please login or register for a new login account before proceeding. For more information, please see the Benefits of a Relius User Login Account. For assistance, please contact Client Services at 800-326-7235, and select Option 6.

Practical Corrections Series 06: Testing Failures
Presentor: Derrin Watson Recorded Date: 5/24/2016 Duration: 60 Min.

Description
This program was recorded during a live presentation given on May 24, 2016 at 12:00PM EST.
*******************************************************************************
Web Series: Practical Error Correction and Prevention – A Focused Approach

Mistakes happen. Unfortunately, they happen all the time, even to well-run plans. Fortunately, the IRS has provided step by step guidelines to correct the most common errors. Sometimes, there are alternative methods to dealing with a problem and it can be confusing to determine the best approach.

This 6-parts Web Series will provide an in-depth approach to plan correction. Each week, we will look at a specific problem or set of related problems, consider how the errors could have been prevented, and walk you step-by-step through correction techniques. These programs will not provide generalized theories. Instead, each will focus on specific plan failures and how to address them on a day-to-day basis. Webcasts will include:

  1. Elective deferral failures: too easy to fail
  2. Plan document failures: fix them before the price goes u
  3. Allocation mistakes for employer contributions
  4. Distribution failures: too much, too little, too soon, too late
  5. Plan loan failures: even if the plan didn’t make a mistake
  6. Testing failures: ADP/ACP, 415, 402(g)

Practical Corrections Series 06: Testing Failures: ADP/ACP, 415, 402(g)

Testing! Testing! One! Two! Three! Testing failures are part of life in dealing with qualified plans, and it is little wonder than EPCRS has something important to say on the subject. In this 60 minutes program we will take an in depth look at dealing with testing failures.

Topics include:

  • When is there a failure and what can be done to prevent it from happening?
  • Correcting 402(g) failures after April 15
  • The high cost of ADP/ACP correction after 12 months
  • A detailed look at 415 correction
  • Excise tax issue
  • Self-correct or VCP?
Prerequisites:

There are no prerequisites or other advanced preparation for this program. The speaker will assume attendees have a basic familiarity with the elective deferral procedures and EPCRS. Attendees should have one year of experience.

Level: Beginning.

Instructional Delivery Method
Group – Internet-Based

NASBA Field of Study: Taxes

Speaker: S. Derrin Watson, J.D.
Recipient of ASPPA's 2006 Educator of the Year Award

Objectives: After attending the program you should be able to:

  • Advise clients on preventing testing failures
  • Recommend strategies to address problems before they become failures
  • Administer the ACP test
  • Advise a client whether to file under VCP

 

All ownership and intellectual property rights in and relating to this website and all of its contents or any copies thereof, including but not limited to copyrights, logos, trademarks, service marks, design, text, videos, sound recordings, images, links, graphics, code, concepts and themes are owned by SunGard and/or its subsidiaries (collectively "SunGard") or used under authorized license by the SunGard. Any recording, reproduction, transmission, distribution, publication, performance, broadcast, hyperlink, creation of derivative works or other use in whole or in part in any manner without the prior written consent of the SunGard is expressly prohibited. Without the prior written consent of the SunGard, you shall not insert a hyperlink to this website or any part thereof on any other website or "mirror" or frame this website, any part thereof, or any information or materials contained in this website on any other server, website or webpage.