LIBOR And SOFR Transition For Tax-exempt Transactions

  • Accountant
  • CPA/ABV
  • CPA (CA)
  • CMA
  • CPA (US)
  • CVA
  • CA - ICAEW
  • CFA
  • CPA/PFS
  • ChFC
  • LPA
  • ACCA
  • FSCP
  • CASL
  • ChSNC
  • RICP
  • WMCP
  • CTP
  • CBA/MCBA
  • FPAC
  • CA - Ireland
  • CA - Scotland
  • CPA - Ireland
  • CFIRS
  • CWS

Published: October, 2021

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Why Replace LIBOR?
    4 mins
  • Secured Overnight Financing Rate
    14 mins
  • Revenue Procedure
    28 mins
  • Transition Timeline 2021
    41 mins
  • Transition when Benchmark Unavailable
    56 mins

Course Description

As of July 26, 2021, derivatives will be priced assuming that the variable rate is the SOFR Index. 

Tax rules relating to the LIBOR transition may or may not result in a need to re-analyze the tax-exemption of a tax-exempt loan when such transition occurs. The mechanics of the transition and the events that trigger the transition will be relevant to such analysis. Documentation is important. 

Please join this online Finance CPE webinar in exploring:

Overview of the current and anticipated market developments for LIBOR and SOFR-based loans and swaps 

The federal tax-exempt bond law concerns related to transitioning 

  • From LIBOR to SOFR
  • From LIBOR to a benchmark other than SOFR
  • From Daily Simple SOFR to Term SOFR
  • From SOFR to another benchmark


Major Tax issues – related to re-issuance, contingent pay debt instrument

Reissuance Avoidance – existing, and proposed regulations, and revenue procedure

Consequences of tax going up and tasks to maintain tax-exemption

Key Points Included in the CPE/CE course:

  • Key milestones, relevant dates, and market reactions for LIBOR transition.
  • Alternatives and triggers for transition.
  • Market choices for alternative benchmarks.
  • Federal tax-exempt bond law consequences of the transition.
  • Documentary provisions used for transition.

Learning Objectives

  • To take an overview of the Transition from LIBOR to SOFR.
  • To discuss the transition impact on Loans. 
  • To discuss transition Timeline. 
  • To recognize the transition Impact on Swaps and Term SOFR.  
  • To discuss major tax issues, re-issuance avoidance, and consequences.
  • To identify Best Practices. 
  • To analyze future transition.

Recommended For

  • This online CPE/CE webinar is recommended for CPAs, CMAs, CVAs, CFAs, PFSs, ABVs, and other tax and finance professionals at any position who helps their client manage financial risk.
  • This Online CPE/CE webinar is recommended for CPAs in Canada who desires to support their clients with financial management.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Certified Management Accountant (CMA)
  • Certified Public Accountant (CPA)
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Finance Pros
  • Finanical Analyst
  • Personal Financial Specialist (PFS)
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 CPD Credit of Special situations (Housing, Divorce, Household employees) for Personal Financial Specialist (PFS)
  • 1 CPE Credit for Licensed Public Accountant (LPA)
  • 1 CPD Credit of Finance for Chartered Professional Accountant (CPA Canada)
  • 1 PL Credit for Chartered Financial Analyst (CFA)
  • 1 CPE Credit of Finance for Certified Valuation Analyst (CVA)
  • 1 CPE Credit of Finance for Certified Public Accountants (CPA-US)
  • 1 CPE Credit of Corporate Finance for Certified Management Accountants (CMA)
  • 1 CPD Credit of Finance for Accredited in Business Valuation (ABV)
  • 1 CPE Credit of Finance for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 1 CRE Credit for Certified Treasury Professional (CTP)
  • 1 CRE Credit for Certified Corporate FP&A Professional (FPAC)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1 General Credit for Accountant/Bookeeper
  • 1 CPD Credit for CA - ICAEW
  • 1 CPD Credit for Chartered Certified Accountants (ACCA)
  • 1 CPD Credit for Chartered Accountants - Ireland (CAI)
  • 1 CPD Credit for Chartered Accountants - Scotland
  • 1 CPD Credit for CPA - Ireland
  • 1 CPE Credit of Taxes for Chartered Financial Consultant (ChFC)
  • 1 CPE Credit of Taxes for Financial Services Certified Professional (FSCP)
  • 1 CPE Credit of Taxes for Chartered Advisor in Senior Living (CASL)
  • 1 CPE Credit of Taxes for Chartered Special Needs Consultant (ChSNC)
  • 1 CPE Credit of Taxes for Retirement Income Certified Professional (RICP)
  • 1 CPE Credit of Taxes for Wealth Management Certified Professional (WMCP)

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) 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 credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Craig Haymaker

Chief Operating Officer, HedgeStar

Mr. Haymaker is Chief Operating Officer of HedgeStar where he oversees the risk management consulting, hedge accounting and valuation groups.  He is a subject matter expert in financial reporting and accounting for debt, equities, derivatives and other financial instruments. Mr. Haymaker has over 11 years of audit, professional accounting, and risk management experience.  Mr. Haymaker has held positions with top companies including Deloitte & Touche LLP (Boston), Liberty Mutual Group (Boston) and U.S. Bank (Minneapolis) with a focus on treasury departments, capital markets and risk functions. 

 Mr. Haymaker is also an Events Committee Chair and Steering Committee Member for the Professional Risk Managers’ International Association (PRMIA) in Minneapolis.

 Mr. Haymaker holds a Bachelor of Business Administration degree in Accounting from Stonehill College, and earned his CPA accreditation in 2010.


About Company

HedgeStar

www.hedgestar.com

Founded in 2004, HedgeStar delivers risk management consulting, derivative valuation and hedge accounting services, with a focus on providing transparency for financial reporting and hedge performance optimization. We are experts in FASB, GASB and IFRS standards related to accounting for derivatives and fair value measurements. Our global clients include public and private corporations, real estate trusts, accounting firms, law firms, healthcare organizations, educational institutions, and governmental entities. 

The HedgeStar team is comprised of valuation experts, Certified Public Accountants (CPAs), and hedging program professionals. We deliver our services with a personal touch. We understand our clients and their portfolios and are an extension of their risk, finance and accounting departments. We strive to live by our core values everyday. 

Faq

FAQs content

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Ratings and Review

4.6

19 Ratings

Excellent

12

Very Good

6

Average

1

Poor

0

Terrible

0

AS

Amy Salentine, CPA (US)

Dec 13th, 2021

Disappointed with my-cpe technical issues.

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