2023 IRS and DOL Audit Issues for Retirement Plans: Key Areas of Focus and Strategies for Plan Sponsors
Note: CPE credit is not offered on this program
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE webinar will provide guidance to ERISA counsel, plan sponsors, and administrators on key problem areas identified by the IRS and DOL in audits and methods to ensure compliance. The panel will discuss missing participants, late payroll deposits, missed employee communications, and other DOL areas of focus during an audit. The panel will also discuss the most significant areas of focus during an IRS audit, such as definitions of compensation, distributions, employee eligibility requirements, properly updated plan documents, and other key issues.
Outline
- Recent IRS and DOL retirement plan audit initiatives
- Recognizing plan document defects
- Remedying compliance issues to avoid liability and penalties
- Effective administrative procedures and corrective actions
- Best practices to ensure compliance
Benefits
The panel will review these and other key issues:
- Identifying current areas of IRS and DOL focus
- Recognizing plan document defects
- Addressing and correcting areas of noncompliance
- Determining employee eligibility and compensation
- Making timely payments of deferral contributions
- Updating plans to meet ERISA requirements
- Minimizing audit risks
Faculty
Lisa Rhein Carrasco
Partner
Smith, Gambrell & Russell
Ms. Carrasco is a Partner in the Executive Compensation and Employee Benefits Practice of Smith, Gambrell &... | Read More
Ms. Carrasco is a Partner in the Executive Compensation and Employee Benefits Practice of Smith, Gambrell & Russell, LLP. She practices in all major aspects of employee benefits, compensation and ERISA, including qualified and nonqualified plans, fiduciary issues, welfare benefit plans, and executive compensation. Ms. Carrasco also has experience with respect to employee benefit and executive compensation issues in connection with mergers and acquisitions, including post-closing integration of benefit plans. She was recognized for exceptional pro bono service in 2009 by the Supreme Court of Florida and the Young Lawyers Division of the Florida Bar, in conjunction with the Jacksonville Area Legal Aid, Inc.
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José M. Jara
Counsel
Fox Rothschild
Mr. Jara has over 20 years of ERISA and employee benefits experience, ranging from governmental compliance, fiduciary... | Read More
Mr. Jara has over 20 years of ERISA and employee benefits experience, ranging from governmental compliance, fiduciary liability insurance, to the application of ERISA’s fiduciary standards and prohibited transaction provisions. Mr. Jara has extensive experience resolving issues for corporate plan sponsors and multiemployer plans before the U.S. Department of Labor, where he was formerly a senior pension law specialist and investigator.
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