Join us LIVE for a breakfast forum at Andrei’s Restaurant in Irvine!

Understanding and Applying the New Correction Procedure

Thursday, September 23, 2021

8:00 am to 9:45 am

Our Presentation:

If there is one truth we all know about retirement plans, it is that there are no perfect plans. Regardless of how careful we are, the rules are too numerous and complicated not to experience an occasional failure. Fortunately, the IRS has recognized that mistakes happen and has provided us with a plan correction procedure – EPCRS. The IRS recently updated the procedure (Rev. Proc. 2021-30), providing new correction options and expanding existing correction options. In this session, I will explain (using examples) the changes made to the correction procedure. In addition, using practical case studies, I will illustrate how to use the correction principles to resolve some difficult plan failures.

• Extended self-correction period
• Failure to enroll a 401(k) plan participant
• De Minimis failures/corrections
• Plan amendment failures
• New pre-submission conference
• Overpayments
• Coverage failure correction

Stephen Forbes: 

Stephen is an ERISA attorney and educator with 35 years of experience practicing and teaching in the retirement plan area. Recently, Mr. Forbes received ASPPA’s 2019 Educators Award. Stephen was vice president of SunGard in charge of Relius Education. He teaches seminars, conferences and webcasts on retirement plan compliance, design and correction.

Continuing Education:

• 2 CE for AIF (pending)
• 2 CECs for ERPA (pending)
• 2 CPEs for ASPPA certifications
• 2 CECs for NIPA certifications
• 2 hours for California CPAs 
• 1.75 hours of California MCLE
• 2 hours for Certified Financial Planners (pending)
• 2 CE for CRPS 
• 2 CE for CEBS

A Note Regarding COVID-19 Measures:

WP&BC Orange County is excited to welcome all members back for live in-person meetings. To ensure the comfort and safety of our guests during this pandemic, we will be following best practices and arranging our tables so that there can be more distance between attendees and we will be requiring all attendees to wear face masks unless eating or drinking   Due to the fluctuating nature of COVID-19 safety requirements by the State of California, Orange County, and our meeting venue, we may have to institute additional safety measures, up to and including a return to a virtual format. We will keep you updated regarding any changes to these measures. Should you have any further questions, please don’t hesitate to contact me.

Doors open at 7:30 am for check-in, breakfast and networking.  Our program will begin at 8:00 am and this program will end at approximately 9:45 am.  The registration fee includes a full breakfast buffet and hosted valet parking.

The reservation deadline for this event is Friday, September 17.

• WP&BC Members can bring a guest for free!  This is a wonderful opportunity to introduce your peers and colleagues to our Chapter.  Remember, your guest should be a first-time visitor and potential member.   Look for the free guest offer when you register online
• The statements and materials presented at WP&BC Orange County Chapter events are solely the opinions of the speakers and do not represent the opinions or positions of WP&BC Orange County Chapter. In addition, WP&BC Orange County Chapter assumes no responsibility for the content or accuracy of the statements and materials presented by speakers at WP&BC Orange County Chapter events.