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Tax and Compliance Issues for 401(k) Plans Logo aicpa

  EBPAQC |   Free for EBPAQC members |   AICPA |   Sep 2013 |

This document provides a general understanding of the tax and compliance requirements for 401(k) plans that are subject to the reporting requirements under the ERISA. This primer discusses:

  • the tax advantages of plan qualification under the Internal Revenue Code,
  • the IRC requirements for a plan to be qualified,
  • plan design and IRS determination, opinion, and advisory letters,
  • non-discrimination tests and other operating tests to maintain qualified status,
  • safe harbor plans,
  • plan document failures and operational errors,
  • IRS correction programs, and
  • unrelated business income tax considerations
Topics covered:
  • Employee benefit plan auditing: Technical: Defined contribution plans, Foundational
  • Employee benefit plan auditing: Technical: Defined contribution plans: Prohibited transactions/tax considerations, Foundational