Learn how to navigate audits, reduce regulatory risk, and implement best practices.
The Department of Labor and the Internal Revenue Service are each responsible for overseeing the regulation and auditing of employee benefits plans, and both continue to ramp up investigations in recent years. Plan sponsors and fiduciaries need to be prepared to implement best practices to avoid issues raised on audit, and also need to be prepared to implement a strategy to navigate potential audits of their benefits plans. This presentation will help plan sponsors and fiduciaries understand the audit process implemented by both the Department of Labor and the Internal Revenue Service, offer pointers on how to work with investigators, and discuss strategies on how to utilize internal controls and correction programs to address issues before they are raised on audit. This presentation is critical for any employer to understand how to prevent common problems and how to interact with the government in addressing those problems on audit.
Learning Objectives
- You will be able to explain the audit processes implemented by both the DOL and IRS.
- You will be able to identify common errors raised by DOL and IRS on audits.
- You will be able to recognize red flags that may lead to government attention.
- You will be able to review plan documents and processes with best practices in mind to avoid potential audits.
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
| Department of Labor Structure and Investigations | |
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| Department of Labor Audit Priorities | |
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| IRS Structure and Investigations | |
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| IRS Audit Priorities | |
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| Correction Programs and Best Practices | |
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Credit
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
Live Webinar Registration
- AIPB 2.0
- This program is acceptable for 2.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
CPE 2.0 including Specialized Knowledge 2
- Noggin Guru, Inc. dba Lorman Education Services and BankersHub 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 web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.0 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Specialized Knowledge for 2.0 hours. Prerequisite: basic knowledge of general accounting. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
OnDemand Course
This course was last revised on October 21, 2020.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
Who should attend?
This live webinar is designed for accountants, CPAs, CEOs, presidents, vice presidents, CFOs, controllers, business owners and managers, bookkeepers, tax preparers, and auditors.
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Credit
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Eric W. Gregory
Dickinson Wright PLLC
- Attorney in the Troy, Michigan office of Dickinson Wright
- Practice emphasizes all aspects of employee benefits and executive compensation law, including qualified retirement plans, welfare plans, and nonqualified compensation programs
- Conducts regular seminars and workshops on numerous employee benefits issues such as ERISA compliance and best practices, avoiding litigation risk for sponsors of retirement plans, and employer fiduciary duties under ERISA
- Author of several publications related to employee benefits such as Surviving an IRS or DOL Retirement Plan Audit: Failing to Prepare is Preparing to Fail, Here Comes the Department of Labor: Retirement Plan Audits Begin for Code Section 401(a)(9) Compliance, and Missing Participants Policy and Procedure
- Awards include Up and Coming Lawyer, Chambers USA 2020 – present; Best Lawyers in America, Employee Benefits (ERISA) Law, 2023; Michigan Super Lawyers Rising Star, 2016 – present; Michigan Lawyers Weekly, Up & Coming Lawyers, Class of 2017; DBusiness Maga-zine Top Lawyer, Employee Benefits Law, 2016 – present
- Past chair of State Bar of Michigan Taxation Section’s Employee Benefits Committee and past chair of Oakland County Bar Association Employee Benefits Committee
- Taxation Council Member, State Bar of Michigan Taxation Section
- LL.M. Degree in taxation, certificate in employee benefits law, Georgetown University Law Center; J.D. Degree, Wayne State University; B.A. Degree in political theory and constitution-al democracy, Phi Beta Kappa, Michigan State University, James Madison College
- Can be contacted at [email protected] or 248-433-7669
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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