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  • videocam On-Demand
  • signal_cellular_alt Intermediate
  • card_travel ERISA
  • schedule 90 minutes

IRS Pre-Examination Retirement Plan Compliance Program: Correcting Errors, IRC Rules, Key Issues for Plan Sponsors

$347.00

This course is $0 with these passes:

CLE
ALL
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Description

The IRS has extended a retirement plan compliance program and has issued pre-examination notices to plan sponsors to allow them to address plan discrepancies. Counsel, plan sponsors, and administrators must understand how to respond to this IRS letter and the procedures involved and take steps to ensure full compliance to avoid an IRS exam.

If a plan sponsor receives an IRS pre-examination notice, they have 90 days to respond. The notice allows a plan sponsor to perform a self-examination, including a compliance review of all plan documents and operations. If there is no response by the end of the 90-day period, the IRS will contact the plan sponsor to schedule their examination.

If the plan sponsor discovers errors after their review, they may rely on the correction principles in the Employee Plans Compliance Resolution System (EPCRS). Alternatively, a closing agreement and payment may be requested. Plan sponsors and their counsel must identify plan errors and respond appropriately to an IRS pre-examination notice.

Listen as our panel discusses IRS self-correction rules and procedures (as updated by SECURE 2.0), recommended next steps after receiving an IRS pre-examination notice, and navigating the requirements and procedures under the compliance program.

Presented By

David Ashner
Of Counsel
Groom Law Group Chtd - Washington

Mr. Ashner’s practice covers a broad range of legal issues relating to benefit structures, tax qualification requirements, fiduciary duties in the administration of employee benefit plans, plan funding rules, plan investments, and executive compensation.

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Elizabeth Thomas Dold
Principal
Groom Law Group Chtd - Washington

Ms. Dold's client work includes all tax aspects related to employee benefits including IRS filings and audits, employment taxes, and taxation and reporting of fringe benefits and welfare benefits, among other issues.

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Credit Information

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


  • Live Online


    On Demand

Date + Time

  • event

    Tuesday, September 10, 2024

  • schedule

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

  1. IRS pre-examination program: Round 2
  2. Recognizing and treatment of plan document and operational errors
  3. Remedying compliance issues during the 90-day review period
  4. IRS action upon receiving the plan sponsor's response
  5. Maintaining effective administrative procedures and corrective actions

The panel will discuss these and other key issues:

  • Overview of IRS pre-examination program
  • Next steps after receiving IRS pre-examination notice
  • Recognizing plan document and operational defects
  • Addressing and correcting areas of noncompliance under EPCRS during the 90-day review period
  • Potential IRS actions after plan sponsors conduct their review and respond to pre-examination notice
  • Minimizing audit risks