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IRS and DOL Correction Programs for Qualified Plans

4.5 (81)

John Burgess

Shumaker, Loop & Kendrick, LLP

Wednesday, July 22, 2020 | 01:00 PM EDT

  • CPA
  • EA

1 Credit

FREE

Subject Area

Taxes

Upcoming Webinars

Course Description

The Department of Labor provides numerous resources for employee benefit plan auditors and Form 5500 and financial statement preparers, as well as individuals who select auditors. The Internal Revenue Service (IRS) and Department of Labor (DOL) both encourage voluntary corrections of these errors and have published programs to assist plan sponsors in making these corrections. This free CPE webinar will discuss the programs administered by the IRS and the DOL, along with discussing some of the most common errors and their corrections.

By attending this webinar, CPAs who audit qualified plans will learn about some of the common mistakes that arise in the administration of these plans, and what clients should do in order to fix these mistakes. The program will also discuss solutions for companies whose Form 5500 filings are not made in a timely manner. Taking advantage of these programs can save significant time and money for the sponsors of retirement plans.

In this webinar we will also discuss programs that are available to correct errors in Qualified retirement plans, including 401(k) plans.

Learning Objectives

  • To Identify some of the most common errors that occur in qualified plans
  • To identify different types of IRS correction programs and when to use them
  • To recognize DOL’s fiduciary correction program and some situations in which it applies
  • To identify ways of voluntarily correcting late Form 5500 filings

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Auditors
  • Bookkeeper
  • CFO/Controller
  • Chief Accounting Officer
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Practice Administrators
  • Risk Managers
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Pros
  • Young CPA

Testimonial

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    [average] => 4.5185
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4.5

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62%
28%
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