- NY Credits : 4.0
- TX Credits : 4.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 4.0
The IRC Sec. 401(k) plan has become the most popular vehicle for retirement savings in the United States, representing a significant opportunity for employees to provide for their own retirement needs. These materials provide a basic overview of IRC Sec 401(k) plans: the advantages and costs of offering such plans, the types of contributions that can be made, the basic rules and limits on those contributions, and special rules for Roth contributions. The program also discusses the basic qualification requirements, nondiscrimination rules, and IRC 401(k) design considerations. This course has been updated for applicable provisions of the Tax Cut and Jobs Act.
This intermediate level course is most appropriate for the professional with detailed knowledge in 401k plans or the professional seeking to expand his or her knowledge base and who may be at a mid-level position within an organization with operational or supervisory responsibilities, or both.
Upon successful completion of this course, the user should be able to:
identify a qualified cash or deferred arrangement, as well as the benefits and issues that must be considered when adopting or maintaining a plan with an IRC Sec. 401(k) feature;
identify the coverage and nondiscrimination requirements and the various correction methods that can be used to satisfy these requirements;
identify the benefits and costs of a qualified automatic contribution arrangement (QACA) and an eligible automatic contribution arrangement (EACA); and
determine the tax consequences to the employer and its employees, including the treatment of traditional and Roth contributions and distributions.