A qualified plan such as a 401(k) may – but isn't required to – allow for loans to plan participants. The loans will be subject to the written plan document requirements and the Internal Revenue Code. In this podcast, Marcel Weiland covers an overview of the Code statute that deals with the loan ...
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About Marcel Weiland
Plan Failure Can’t Be Fixed in EPCRS? The IRS’s Voluntary Closing Agreement Program May Be Solution
The IRS's Voluntary Closing Agreement program (VCA) is designed to resolve retirement plan problems - in a negotiated settlement - that don't fall under its Employee Plans Compliance Resolutions System.
In What Situations Is VCA Appropriate?
VCA is appropriate for any situation involving ...
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The Delinquent Filer Voluntary Compliance Program – Over-The-Counter Relief
In 1995, the Department of Labor (DOL) established its Delinquent Filer Voluntary Compliance (DFVC) Program to enable plan sponsors to file all the appropriate returns and to pay reduced penalties.
If you have an employee benefit plan for which an annual report should have been filed, but which ...
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The Employee Plans Compliance Resolution System (EPCRS): When Haste DOESN’T Make Waste
I can still hear my mother saying it, "Haste makes waste, Marcel." And it is true in many situations – acting too quickly can cause mistakes that waste time and money. But it isn't always the case with qualified plan failures. In most cases, timely correction of a failure will cost you less money ...
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Before You Throw That Switch – Blackout Period Notice Requirements
In the wake of the Enron situation, Congress passed a law containing blackout period requirements that apply to all defined contribution retirement plans. Blackout periods (times when participants lose control over their accounts) can occur for a number of reasons, but the most common are if the ...
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