rocknrolls2 Posted March 3, 2015 Posted March 3, 2015 I have a client that has a number of participants with plan loan problems. About half of the affected participants have terminated. I am proposing to file a VCP application and propose that the correction would be done by allowing the affected participants to reamortize their loans for up to the 5-year limit. I am also proposing that no reporting of these corrections take plan on Form 1099-R. Does anyone with experience dealing with the iRS loan corrections in VCP know if the IRS allows the reamortization approach as applied to former participants? Thank you.
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now