401k Annual Audits: Anticipating Serious and Costly Errors, Evaluating Alternative Solutions

Recording of a 110-minute CPE webinar with Q&A


Conducted on Tuesday, April 11, 2017
Recorded event now available


This webinar will provide employee benefits administrators, auditors and plan sponsors with best practices to prevent serious and costly errors in preparing for 401k audits. The panel will explain the pitfalls that practitioners often encounter in these audits and outline how to address these issues based on real-world experiences.

Description

Proficiency in administrating and auditing 401k plans requires staying on top of myriad and ever-changing IRS and DOL rules and regulations. A 401k plan with more than 100 eligible participants must file audited financials along with Form 5500, which are closely scrutinized during DOL audits.

Benefit audit professionals and advisers must know the red flags for the IRS and DOL in a Form 5500 before filing—and be able to identify problems in prior filings to get ahead of any issue with the IRS with appropriate amendments.

Our panel of veteran professionals, all well versed and experienced with 401k audits, will provide you a road map to avoid costly mistakes. The panel’s experiences and solutions will help you increase your accuracy in filing, take action to correct prior errors, and prepare for and get through these audits.

Listen as our panelists offer best practices and insights based on real world experience for avoiding common high risk mistakes associated with 401k audits. The panel will also outline approaches to identify and correct plan errors before an audit or after a filing.

Outline

  1. 401k plan audit overview
    1. Relevant forms and regulations
  2. Form 5500
    1. 401k plan rule issues
  3. Challenges to anticipate
    1. Common plan operation errors
      1. Denied Form 5500
    2. Potential fixes for errors
  4. Best practices for audit preparation
    1. Benefit plan audit experiences

Benefits

The panel will address these and other key issues:

  • Understanding the areas of highest risk in 401k audits
  • Identifying and avoiding the most common mistakes in 401k audits
  • Implementing expedient solutions to the most common 401k or filing mistakes after the fact
  • Pinpointing Form 5500 red flags for the IRS and DOL

Learning Objectives

Upon completing this webinar, you will be able to:

  • Recognize and correct serious but common mistakes that lead to 401(k) audits by the IRS
  • Identify and correct errors that lead to 401(k) audits by the DOL
  • Discern plan operational errors
  • Determine whether plans pass the basic IRS testing requirements

Faculty

Brian A. Benko, Partner
McDermott Will & Emery, Washington, D.C.

Mr. Benko advises clients on a variety of employee benefits matters related to qualified retirement plans, executive compensation arrangements, and health and welfare plans. He has experience with the design, restructuring, amendment, and administration of various types of plans and has represented clients before the Internal Revenue Service, U.S. Department of Labor and the Pension Benefit Guaranty Corporation.

Joanna C. Kerpen, Partner
McDermott Will & Emery, Washington, D.C.

Mrs. Kerpen focuses her practice on a variety of employee benefits tax and ERISA matters related to 401(k) plans, pension plans, health and welfare plans, and executive compensation plans, including designing, amending and administering such plans. She has extensive experience with PPACA compliance as with HIPAA and various other federal and state laws relevant to health and welfare plans.


Recordings

Recorded Event

Includes full event recording plus handouts.

Note: Self-study CPE and EA credits are not offered on recorded events.

Recorded Webinar Download $147.00

How does this work?

Recorded Audio Download (MP3) $147.00

How does this work?

DVD (Slide Presentation with Audio) $147.00 plus $9.45 S&H

How does this work?


NASBA CPE Sponsor

National Registry of CPE Sponsors

Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

IRS Approved Provider

Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

Program Materials

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Program Materials

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or call 1-800-926-7926

CPE Credit

Strafford is a NASBA CPE sponsor and our live webinars qualify for CPE credits. They offer you a high quality, cost effective, and convenient CPE option, with no lost travel time or expenses.

or call 1-800-926-7926

Customer Reviews

Excellent seminar! It was efficient and the important topics were covered at just the right pace; no time was wasted covering information that the participants already knew.

Rhonda G. Williams, CPA

Barraclough & Associates

I liked the concentration on specific issues and examples.

Edita Rimalovsky

Komisar Brady & Co.

The conference was technical, informative and presented at a good pace.

Krystal Ching

KMH

I loved the tools and handouts. Every CPE class should offer these kind of tools.

Jackie Meyer

Sample and Bailey

I purchased the conference a few minutes after it began and the customer service rep was very helpful and got me signed up and logged into the conference very quickly.

Joanna Johnston

Savas Greene & Company

or call 1-800-926-7926

Accounting Advisory Board

Bill Allen

Partner

Making Auditors Proficient

Alicia Dias

Audit Manager

Brown/Armstrong

Richard H. Gesseck

Partner

CohnReznick

Neil Goldenberg

Partner-In-Charge, Internal Audit & Risk Management

Eisner

Greg Goller

Partner-in-Charge, Non-Profit Tax Practice

Grant Thornton

Lynford Graham, CPA

Professor of Accounting

Bentley University

Joe Kristan

Shareholder

Roth & Co. CPAs

Steven J. Luber

Senior Manager

PricewaterhouseCoopers

Gary O'Krent

Shareholder

Bluestein O'Krent & Bluestein

Curtis Reinhart

Partner

Ernst & Young

Celia Roady

Tax Partner

Morgan Lewis

Charles (Chip) Schweiger

Partner

Whitley Penn

Chris Stanz

Principal, Non-Profit and Government Practice

LarsonAllen

Alan Strand

Principal

Strand and Associates

Danielle Thompson

Director of Business Development

Insight Accounting Group

or call 1-800-926-7926

Our Guarantee

Strafford webinars are backed by our 100% Unconditional Money-Back Guarantee: if you are not satisfied with any of our products, simply let us know and get a full refund. For more information regarding complaints and refunds, please contact us at 1-800-926-7926 ext 10. Complaints regarding this program can be submitted via the course evaluation found in the “Thank you” e-mail at the end of the course.