Sessions For All Days

06

Monday
11:00AM-12:15PM

EBP1904. Fringe Benefits Post Tax Reform

Instructor: Jeff Martin, Deborah Walker
Track: Plan Design & Tax Compliance
Knowledge Level: Intermediate
Field of Study: Taxes
CPE Credits: 1.5

This session will review the current rules and regulations regarding fringe benefits, including the ability of an employee to exclude the value of such benefits from income and the ability of an employer to deduct the cost of those benefits.

Special emphasis will be placed on the Tax Cut and Jobs Act changes affecting fringe benefits, specifically meals and entertainment expenses, qualified transportation fringe benefits and moving expenses.

Learning Objectives:

  • Identify the fringe benefits that are best for your client based on the tax treatment of such benefits for the employer and the employee
  • Apply current rules and regulations to your clients in order to assist in designing a cost efficient fringe benefit plan

06

Monday
1:15PM-2:30PM

EBP1907. 401(k) Testing and Alternatives

Instructor: Cindy Dwyer, Kimberly Flett
Track: Plan Design & Tax Compliance
Knowledge Level: Intermediate
Field of Study: Taxes
CPE Credits: 1.5

An in-depth look at 401(k) plan testing and alternatives including APD/ACP testing from a tax perspective. These compliance tests are complicated and this session can assist auditors in become more adept in the area related to non-discrimination testing.
Learning Objectives:

  • Apply proper use of ADP/ACP testing based on its purpose.
  • Identify issues involved with testing failures and corrections.

06

Monday
2:40PM-3:55PM

EBP1914. On Auto-Pilot: Automatic Provisions Don't Always Always Equal Smooth Sailing

Instructor: Amisha Patel, Mark Swedeslon
Track: Plan Design & Tax Compliance
Knowledge Level: Basic
Field of Study: Taxes
CPE Credits: 1.5

This session will cover what are all the automatic options in plans to today (enrollments, distributions, investing, salary increases, etc), corrections for when someone is not auto-enrolled timely, and Rev Proc 2015-28.
Learning Objectives:

  • Obtain a basic understanding of common automatic provisions within the plan document - such as enrollments, escalation, and distributions.
  • Understand challenges and most common errors related to automatic provisions

06

Monday
4:25PM-5:40PM

EBP1921. Is an ESOP Right for Your Company?

Instructor: Keandra Greene, Mark Welker
Track: Plan Design & Tax Compliance
Knowledge Level: Basic
Field of Study: Taxes
CPE Credits: 1.5

This session will discuss whether an ESOP is the best business succession planning tool for a company. We will provide an overview of an ESOP, why a company might or might not want one, and tax/economic/business perspectives of an ESOP. We will provide a case study to illustrate the analysis.
Learning Objectives:

  • Identify clients in which an ESOP as a business succession planning alternative is appropriate.
  • Recall aspects of an ESOP in order to propose to potential ESOP candidates.
  • Recognize potential advantages and disadvantages of ESOPs, including concerns related to risk, cost, and complexity.

07

Tuesday
10:15AM-11:30AM

EBP1929. Unrelated Business Taxable Income

Instructor: J. Calvin Marks, Deborah Walker
Track: Plan Design & Tax Compliance
Knowledge Level: Intermediate
Field of Study: Taxes
CPE Credits: 1.5

Special rules apply to unrelated business income for employee benefit plans. This session will review the rules for unrelated business income in general and those that apply to employee benefit plans in particular.
Learning Objectives:

  • Determine if unrelated business income tax is applicable to a specific welfare benefit plan
  • Analyze whether it is appropriate for your client to fund a specific welfare benefit plan and the tax implications of doing so in a tax exempt or taxable trust
  • Calculate unrelated business income tax when a qualified retirement plan needs to pay unrelated business income tax, if applicable

07

Tuesday
10:15AM-11:30AM

EBP1933. The Specificity of an ESOP's Tax Rules

Instructor: Anne Bushman, Mark Welker
Track: Plan Design & Tax Compliance
Knowledge Level: Advanced
Field of Study: Taxes
CPE Credits: 1.5

ESOPs are a unique type of qualified retirement plan. This unique aspect of owning and leveraging employer shares brings about unique tax consequences. This session will review tax rules specific to structuring ESOP transactions (such as S corporation vs. C corporation treatment and 1042 tax deferral) and existing ESOP sponsors (such as deduction limits, book-tax differences, and section 409(p).) The session assumes intermediate competency related to ESOPs. Auditors will benefit from the material as it is based on ESOP operations that have financial statement effects.
Learning Objectives:

  • Assess effects of income tax rules on a company that sponsors an ESOP
  • Interpret necessary facts for accurate tax compliance for ESOP sponsors
  • Categorize issues related to ESOP, including section 409(p) issues

07

Tuesday
11:40AM-12:30PM

EBP1936. Compliance Testing in Defined Contribution Plans

Instructor: Karen Field, Keandra Greene
Track: Plan Design & Tax Compliance
Knowledge Level: Intermediate
Field of Study: Taxes
CPE Credits: 1.0

In this session, attendees will enhance their basic competency of compliance testing issues by covering: controlled group rules, coverage testing, single employers and controlled group rules, Section 401(a)(4) nondiscrimination testing, Section 414(s) compensation testing considerations, and top heavy and 401(k) plan issues.
Learning Objectives:

  • Compare the interaction between controlled group testing and the various nondiscrimination rules.
  • Analyze whether a set of facts is likely to have testing issues

07

Tuesday
1:30PM-2:45PM

EBP1943. Common IRS/DOL Errors and How to Correct Them (Repeated in Session 64)

Instructor: Renee Cahill, Mark Ritter
Track: Plan Design & Tax Compliance
Knowledge Level: Basic
Field of Study: Taxes
CPE Credits: 1.5

This course will provide an introductory discussion about the basic parameters relating to how common IRS/DOL errors can be corrected under the IRS Employee Plans Compliance Resolution System (EPCRS) and the DOL Voluntary Fiduciary Correction Program (VFCP). This course will include comments on the recently released EPCRS Program.
Learning Objectives:

  • Identifying common plan administrative and similar errors
  • Recognize appropriate and compliant correction methods for respective errors.

07

Tuesday
2:55PM-3:45PM

EBP1950. Distributions & Participants Loans - All the Updates You Need To Know

Instructor: Amisha Patel, Avery Neumark, Thomas Pevarnik
Track: Plan Design & Tax Compliance
Knowledge Level: Basic
Field of Study: Auditing, Taxes
CPE Credits: 1.0

This session will focus on the tax compliance and auditing aspects, including plan design, related to participant loans and plan distributions.
Learning Objectives:

  • Recall new developments regarding coordination of hardship distributions and participant loans
  • Recall the effects of the Tax Cuts and Job Act of 2017 and the Bipartisan Budget Act of 2018 on distributions and loans
  • Recognize planning opportunities for both plan sponsors and participants

08

Wednesday
8:00AM-9:15AM

EBP1958. IRS and DOL Audits: Common Findings and Focus Areas

Instructor: Internal Revenue Service Confirmed, Department of Labor Invited
Track: Plan Design & Tax Compliance
Knowledge Level: Advanced
Field of Study: Auditing, Taxes
CPE Credits: 1.5

Hear directly from IRS and DOL what they are finding in IRS exams and DOL investigations

08

Wednesday
9:45AM-11:00AM

EBP1964. Common IRS/DOL Errors and How to Correct Them (Repeat of Session 43)

Instructor: Renee Cahill, Mark Ritter
Track: Plan Design & Tax Compliance
Knowledge Level: Basic
Field of Study: Taxes
CPE Credits: 1.5

This course will provide an introductory discussion about the basic parameters relating to how common IRS/DOL errors can be corrected under the IRS Employee Plans Compliance Resolution System (EPCRS) and the DOL Voluntary Fiduciary Correction Program (VFCP). This course will include comments on the recently released EPCRS Program.
Learning Objectives:

  • Identifying common plan administrative and similar errors
  • Developing ability to determine appropriate and compliant correction methods for common errors.

08

Wednesday
9:45AM-11:00AM

EBP1965. What does an IRS/DOL Exam Look Like?

Instructor: Wayne Kamenitz, Chris Shankle
Track: Plan Design & Tax Compliance
Knowledge Level: Basic
Field of Study: Auditing, Taxes
CPE Credits: 1.5

Pre and post exam and all in-between. Why does an auditor care about this?
Learning Objectives:

  • Identify what the IRS/DOL ask for and focus on during examinations.
  • Identify hot topics and common issues found on examinations.
  • Recognize the exposure to the plan, it’s participants and the plan sponsor when an IRS/DOL examination occurs.
  • Recall how the plan sponsor can prepare for and mitigate the risks of an IRS/DOL examination.

08

Wednesday
11:10AM-12:25PM

EBP1971. Traps for Privately Owned Business

Instructor: Eddie Adkins, Carol Zurcher
Track: Plan Design & Tax Compliance
Knowledge Level: Basic
Field of Study: Taxes
CPE Credits: 1.5

Owning a privately-held business can be tricky. Be aware of these common “traps” and differences in C-corps, S-Corps, LLCs, sole proprietorships, and partnerships by attending this session. Questions about owner compensation, owner contributions, employment status, affiliated service groups, controlling interests, and benefits will be answered. Find out what happens if your plan become top heavy and how you can best monitor, as a plan sponsor, if your plan needs an audit.
Learning Objectives:

  • Recall how owners are compensation and if a partner can be an employee.
  • Recognize reasonable compensation for an owner.
  • Indicate how and where contributions are declared and how these groups impact benefits, testing, and compliance.
  • Recall the definition of an affiliated service group and controlled group.