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View More FIS Relius Education Webcasts and Conferences

401(k) Beyond the Basics 14: Participant Loans: The Fine Print

FIS Relius Education

Feb. 13, 2017
Recorded Online
Do you already know the basics of 401(k) plans, and want to move on to the nitty gritty? There are so many rules, that it is impossible even for a very experienced practitioner to remember them all. Each installment in this series will present a one-hour focused look at a single topic affecting 401(k) plans and provide the information practitioners need to know to be sure they are fully assisting the companies and participants they serve. You can brush up on a single topic, or view the whole set, either as a live seminar, where you can ask questions, or as an archived presentation on your own schedule. Our standard pricing has been discounted to make attendance to all sessions in this series more cost effective. The series will cover the following:

401(k) Plans: Beyond the Basics Web Series
401(k) BB 01: IRS and DOL Correction Programs:More than Alphabet Soup
401(k) BB 02: Plan Document Requirements and Deadlines
401(k) BB 03: Eligibility and Vesting Design Considerations
401(k) BB 04: HCEs and Compensation
401(k) BB 05: Coverage Testing Issues
401(k) BB 06: The Average Benefit Test
401(k) BB 07: Elective Deferral Options
401(k) BB 08: ADP Testing Techniques
401(k) BB 09: ACP Testing Techniques
401(k) BB 10: After-tax Contributions: The Other White Meat
401(k) BB 11: Safe Harbor 401(k) Plan Design
401(k) BB 12: Safe Harbor 401(k) Plan Operation
401(k) BB 13: Distribution Restrictions & Hardships
401(k) BB 14: Participant Loans: The Fine Print
401(k) BB 15: All About Roth

401(k) Beyond the Basics 14: Participant Loans: The Fine Print

Handling plan loans is one of the least enjoyable aspects of retirement plan practice. But it remains an important part. Many employees want to be able to borrow from their accounts, and that often includes the owners. Plan loans impact plans in many ways: prohibited transaction rules, deemed distribution rules, joint and survivor rules, plan asset rules, and more. There's a lot to keep track of just to let a participant have temporary access to his or her funds. Topics include:

Avoiding Deemed Distributions
◦ Maximum Loan Amount
◦ Enforceable Agreement
◦ Repayment Rules
◾5 Year Limit
◾Level Amortization
◾Payment Suspension
◦ Curing Defaults
◦ Refinancing Loan
Consequences of Deemed Distribution ◦Penalty Taxes
◦ Loan Offsets
◦ Reporting
◦ Repayment
◦ Phantom Interest
◦ Limits on Future Borrowing
Avoiding Prohibited Transactions ◦Reasonable Interest
◦ Nondiscrimination Requirements
◦ Reasonable Availability
◦ Adequate Security
◦ Plan Provisions or Policy
Joint and Survivor Requirements

There are no prerequisites or other advanced preparation for this program. The instructor will assume attendees have a general familiarity with the qualified plan requirements, and a minimum of two years of experience in dealing with qualified plans.
Level: Intermediate
Instructional Delivery Method: Group Internet-Based
NASBA Field of Study: Taxes
Speaker: David Schultz, J.D.

After the program, attendees should be able to:
Describe the options available in designing and administering a participant loan program
Correctly report and address administration of loan defaults and offsets
Advise a client on avoiding prohibited transactions involving participant loans

More Information, How to Register

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