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Course/Product Description
Title:

IRS Guidance on Hardship Withdrawals: Practical Tips for Avoiding Common Pitfalls

SKU:WC-1012496
Date / Time: Recorded
Format: Audio Conference
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Description:

IRS Guidance on Hardship Withdrawals: Practical Tips for Avoiding Common Pitfalls

Many employer plans provide for hardship withdrawals to participants who incur certain hardships. The IRS rules on hardship withdrawals are complicated. In addition, in recent years, the IRS has issued special relief to plan sponsors and participants.

This live audio conference helps the hardship withdrawal administrator navigate the complex requirements for hardship withdrawals. Learn practical tips for avoiding common pitfalls, how to take advantage of special IRS relief, and how to correct errors through the IRS correction programs.

Learning Objectives:

  • You will be able to discuss the types of plans affected.
  • You will be able to review safe harbor events.
  • You will be able to identify special relief and correction programs.
  • You will be able to explain the possible 10% penalty.

Agenda

I. In Service Withdrawals Generally

  • Hardship Withdrawals
  • Age 59 1/2
  • Other

II. Hardship Withdrawal Overview

  • Types of Plans Affected
  • Hardship Withdrawal Defined

III. Hardship Withdrawal Requirements

  • Immediate and Heavy Need
  • Amount Necessary to Satisfy Need
  • Safe Harbor Events (Deemed Need)
  • Other Facts and Circumstances

IV. Hardship Withdrawal Consequences

  • Six Month Prohibition on Elective Deferrals and Employee Contributions
  • Income Inclusion
  • Possible 10% Penalty
  • Other

V. Special Relief and Correction Programs

  • Special Relief
  • Available Correction Programs

VI. Practical Tips for Avoiding Common Pitfalls

Faculty

Marjorie M. Glover, Chadbourne &Parke LLP

  • Chair of Employee Benefits and Executive Compensation at Chadbourne &Parke LLP
  • Experience in aspects of employee benefits and executive compensation law, including plan design, compliance and correction
  • Conducts regular seminars and workshops on numerous aspects of employee benefits and executive compensation
  • Wrote numerous articles and a monthly Ask the Expert columnist for Employee Benefit Plan Review magazine
  • Recognized in Best Lawyers in America and SuperLawyers
  • Member of the American Bar Association, New York State Bar Association and New York City Bar Association, where she is chair of the Subcommittee on Healthcare Reform and Welfare Plans

Who Should Attend

This live audio conference is designed for CPAs, accountants, attorneys, presidents, vice presidents, business owners and managers, CFOs, tax managers, tax preparers, financial planners and enrolled agents.

Continuing Education Credit

Credit is available only for the LIVE webcast. Recorded versions do not qualify for credit. Only registered and paid attendees will receive continuing education credit. Certificates of Completion are provided to each registered attendee. Your certificate will be emailed to you within two weeks following completion of the program.

Cannot Attend The Live Presentation?

This presentation is also available in a recorded format, in CD version, as shown in the pricing options below.

About Webcasts / Audio Conferences / Podcasts:

Webcasts, audio conferences, and podcasts are presentations that you attend via the Internet, phone, or mobile device at a specified date and time for "live" versions, or at your convenience for "recorded" and "On-Demand" versions.

The live versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back at work immediately after the session ends!

And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous times and to share it with others in your office.

Handout materials and the phone number for live presentations are made available to you prior to the event via email from the presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.

Licenses / Designations / Educational Credits:CPE
All US States: 2

CFP
All US States: 2

Enrolled Agents
All US States: 2
About The Provider: Lorman Education Services has provided educational seminars and online training for professionals since 1987.

Since then, we've kept thousands of professionals in the United States and internationally current on the most pressing topics in a rapidly changing marketplace of ideas. Like you, we understand the need for concise, accurate information.

That understanding underlies each Lorman course, presenting the latest information on the laws and regulations critical to your organization's successful daily operations.

Moreover, each course receives our painstaking attention to be certain both the faculty and participants receive the individual attention necessary to achieve maximum benefit from the materials.
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