Featured Jobs
|
The Pension Source
|
|
Distributions Processor - Qualified Retirement Plans Anchor 3(16) Fiduciary Solutions, LLC
|
|
DWC ERISA Consultants LLC
|
|
Nova 401(k) Associates
|
|
BPAS
|
|
EPIC RPS
|
|
BPAS
|
|
Merkley Retirement Consultants
|
|
Compensation Strategies Group, Ltd.
|
|
Defined Benefit Specialist II or III Nova 401(k) Associates
|
|
Retirement Combo Plan Administrator Heritage Pension Advisors, Inc.
|
|
July Business Services
|
Free Newsletters
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
|
|
|
Using EPCRS to Correct Participant Loan Issues
Belfint Lyons & Shuman, CPAs 
Apr. 4, 2017
"Plan failures related to participant loans can be corrected using either Voluntary Correction Program (VCP) or Correction on Audit. Since plan loan failures are not operational failures, they cannot be corrected using the self-correction method.... [P]ossible failures related to participant loans ... include: [1] Plan loans in excess of the maximum limit ... [2] Loan terms do not satisfy repayment requirements ... [3] Loan defaults due to repayments that are not in accordance with the loan term"
|
| Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the linked news item's title). |
| An important word about authorship: BenefitsLink® created this link to the news item, but we are not the news item's author (unless expressly shown above). |