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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    ERISA

Date & Time
  • event Date

    Wednesday, September 28, 2022

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).


  • Live Online


    On Demand

$347.00

This course is $0 with these passes:

CLE
CPE
ALL

This CLE/CPE course will guide employee benefits counsel and tax advisers, analyze critical issues in establishing tax-qualified retirement plans, and offer methods to ensure compliance with applicable laws and regulations.

Faculty

Peter Daines

Mr. Daines focuses his practice in the area of employee benefits, including executive compensation, health and welfare plans, fiduciary duties, and ERISA litigation. He advises employers on all legal issues regarding their employee benefit plans including 401(k) plans, pension plans, nonqualified plans, and health and welfare plans.  Mr. Daines reviews employee benefit-related documents for potential liabilities during due diligence for merger and acquisition transactions and helps employers craft, maintain, and terminate benefit plans, service provider contracts, business associate agreements, and other documents in compliance with constantly evolving laws and changing business climates.

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Mark L. Mathis
Partner
Pierson Ferdinand

Mr. Mathis is a partner in FisherBroyles’ Employee Benefits practice. He assists clients with a broad array of employee benefits issues that employers face in connection with the establishment, on-going administration, redesign, and termination of tax-qualified retirement plans such as traditional and cash balance and other hybrid-defined benefits plans, defined contribution plans like a 401(k) plan, welfare benefit plans, and executive compensation arrangements.

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R. Sterling Perkinson
Partner
Kilpatrick Townsend & Stockton LLP

Mr. Perkinson focuses his practice on employee benefits and executive compensation. He collaborates with plan sponsors, fiduciaries and plan service providers to help them achieve their objectives while reducing their risk.

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Description

Employers establishing a tax-qualified retirement plan must consider applicable rules and requirements under the IRC and ERISA. Employee benefits counsel and tax advisers must adhere to minimum standards in plan design, rules, and limitations relating to contributions, funding, and other critical issues to obtain tax-qualified status for retirement plans.

A qualified retirement plan, such as a 401(k) or profit sharing plan, allows investment income to accumulate on a tax-deferred basis. Qualified plans must meet minimum standards to be qualified for employers and employees to receive tax benefits related to participation in employee benefit plans.

Employee benefits counsel and tax advisers must address those standards and related issues to ensure compliance with complicated rules to establish a tax-qualified plan.

Listen as our panel discusses federal rules and regulations applicable to tax-qualified retirement plans, IRS minimum standards, and other applicable issues. The panel will also offer techniques for navigating the IRS determination process to secure tax-qualified status for retirement plans.

Outline

  1. Qualified Retirement Plans – The Basics
  2. Establishing a Plan
  3. The Basic Standards
  4. Plan Design Considerations
  5. Secure Act 2.0 Highlights
  6. Fiduciary Duties - The Prudence Standard
  7. Plan Administration Issues
  8. Investment Issues
  9. Correction Programs
  10. DOL Audit Initiatives

Benefits

The panel will discuss these and other key issues:

  • Critical considerations in establishing a tax-qualified retirement plan
  • Minimum standards and other requirements under the IRC and ERISA
  • Navigating contribution rules, nondiscrimination requirements, fiduciary issues, and other vital issues
  • Processes for ensuring tax-qualified status for retirement plans

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Identify key tax issues in establishing tax-qualified retirement plans
  • Recognize the minimum standards and other requirements under the IRC to obtain tax-qualified status
  • Understand the IRS determination process for securing tax-qualified status for retirement plans

  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Knowledge and understanding of types of retirement plans and reporting requirements, ERISA Titles I and II, proper completion of Form 5500; familiarity with IRS and Department of Labor audit procedures and enforcement

Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).