FIS Relius

Many things can go wrong in a retirement plan and IRS officials have suggested that most plans fall out of compliance within days after signature. Fixing broken plans, then, becomes a vital part of the practitioner’s work. But with so many different types of failures possible – operational failures, document failures, fiduciary failures, loan failures, late 5500 filing, late deposits, prohibited transactions, and more – it is tough to keep straight what you can or should do to make things right again.

This seminar take a practical approach to plan correction under both the IRS and the DOL rules, including new IRS rules on late filing. While the presentation will briefly outline out the procedural guidelines, most of the program focuses on how to fix the most common plan failures, including some errors that the various correction programs do not directly address. Using examples and practical case studies, you will learn how to make the necessary calculations, determine what latitude you have, and develop a familiarity with the correction to better resolve plan problems and put the plan back on track.

Topics include:

• Excess contributions
• Improper exclusion
• Improper distribution
• Failure to make required contributions
• Late deposits of deferrals and loan repayments
• Participant loans
• Calculating earnings
• SCP correction for unidentified errors
• Late amenders
• Scrivener’s errors
• Late filing

There are no prerequisites or advance preparation for this presentation. However, the speaker will assume that seminar attendees have at least 3 years experience in the industry.

Instructional Delivery Method
Group – Internet-Based

Speaker: David Schultz, J.D.

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

1. Identify the appropriate correction methods
2. Calculate the amount of a corrective contribution
3. Determine when to use SCP and when to use VCP
4. Fashion a proper correction for an error not identified in EPCRS
5. Determine whether the plan in fact failed
6. Explain the risks in correcting a scrivener’s error
7. Identify the options for calculating earnings for corrective contributions
8. Apply properly the EPCRS correction procedures

How to participate

You will need a phone (speakerphone, for multiple participants sharing the Primary registrant’s authorized connection) and Internet Access. The graphics presentation and illustrations will be viewed via the Primary registrant’s Web connection, while the speaker audio portion will be via the Primary registrant’s telephone. Select the ""Fees"" link on the right side menu of this page for more information about who is authorized to connect to the program, and for the cancellation/transfer policy.

Program Schedule (Eastern Time)
PLEASE NOTE THE FOLLOWING DATES & TIMES
Friday, May 15, 2015
Friday, May 22, 2015 and
Friday, May 29, 2015
12:00 p.m. to 1:40 p.m. Eastern Time each day
(11:00 p.m. CT; 10:00 p.m. MT; 9:00 a.m. PT)

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