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Participant Loan Failures: Self-Correction vs. VCP Correction

ERISApedia.com

Dec. 19, 2017
Recorded Online
Webcast

Participant loans continue to be a popular feature in defined contribution plans, particularly 401(k) plans. Navigating the numerous participant loan rules requires careful coordination between the employer, payroll administrator and the trustee. Unfortunately, the IRS has made participant loans a priority in IRS examinations. In recognition of the frequent loan issues and errors, the IRS, under  its EPCRS program, has created correction methods a plan sponsor may use to resolve the errors. Because EPCRS does not address all of the loan errors, discussion of additional correction methods is necessary.

In this webcast, we will identify many of the common participant loan errors and review the various IRS provided correction methods for participant loans. We also will discuss whether the EPCRS correction method is the exclusive means of correction or whether there are alternative correction methods available. Furthermore, we will discuss situations in which the employer may self-correct a participant loan error.

Come join us for this webcast where we will discuss this important plan correction topic.

PDF of the presentation slides.

Q&As from the session.

Continue by clicking on the following link:
https://youtu.be/u636Fi2rAho

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