IRS Guidance on Hardship Withdrawals - TaxConnections

IRS Guidance on

Hardship Withdrawals:

Practical Tips for Avoiding Common Pitfalls

Live Audio Conference August 1, 2013 ? 1:00 pm ? 2:40 pm EST

Many employer plans provide for hardship withdrawals to participants who incur certain hardships. The IRS rules on hardship withdrawals are complicated. In addition, in recent years, the IRS has issued special relief to plan sponsors and participants. This live audio conference helps the hardship withdrawal administrator navigate the complex requirements for hardship withdrawals. Learn practical tips for avoiding common pitfalls, how to take advantage of special IRS relief and how to correct errors through the IRS correction programs.

Learning Objectives: ?You will be able to discuss the types of plans affected. ?You will be able to review safe harbor events. ?You will be able to identify special relief and correction programs. ?You will be able to explain the possible 10% penalty.

In Service Withdrawals Generally ? Hardship Withdrawals ? Age 59 1/2 ? Other

Hardship Withdrawal Overview ? Types of Plans Affected ? Hardship Withdrawal Defined

Hardship Withdrawal Consequences

? Six Month Prohibition on Elective Deferrals and Employee Contributions

? Income Inclusion ? Possible 10% Penalty ? Other

Hardship Withdrawal Requirements

? Immediate and Heavy Need ? Amount Necessary to Satisfy

Need ? Safe Harbor Events (Deemed

Need) ? Other Facts and

Circumstances

Special Relief and Correction Programs

? Special Relief ? Available Correction Programs

Practical Tips for Avoiding Common Pitfalls

Marjorie M. Glover

Chadbourne & Parke LLP

? Chair of Employee Benefits and Executive Compensation at Chadbourne & Parke LLP

? Experience in aspects of employee benefits and executive compensation law, including plan design, compliance and correction

? Conducts regular seminars and workshops on numerous aspects of employee benefits and executive compensation

? Wrote numerous articles and a monthly Ask the Expert columnist for Employee Benefit Plan Review magazine

? Recognized in Best Lawyers in America and SuperLawyers

? Member of the American Bar Association, New York State Bar Association and New York City Bar Association, where she is chair of the Subcommittee on Healthcare Reform and Welfare Plans

? Can be contacted at mglover@ or 212 408-1016

$219 PER ATTENDEE

Receive an additional manual and CD package

of this program for only $69!

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IRS Guidance on Hardship Withdrawals:

Practical Tips for Avoiding Common Pitfalls

Live Audio Conference ID: 390215 ? August 1, 2013 ? 1:00 pm ? 2:40 pm EST

Live Audio Conference Tuition (Includes Free Downloadable Manual With Attendance)

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This live audio conference is designed for CPAs, accountants, attorneys, presidents, vice presidents, business owners and managers, CFOs, tax managers, tax preparers, financial planners and enrolled agents.

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? 2013 Lorman Education Services. All rights reserved. GENERAL INFORMATION: ? This live audio conference may be recorded by Lorman. ? If you need special accommodations, please contact us two weeks in advance of the program. ? Lorman Education Services is not approved to offer self-study CPE credit for accountants; therefore, no CPE will be given for this

program if ordered as a self-study package. CANCELLATIONS: Substitute registrants can be named at any time. A full refund, less a $20 service charge, will be given if notification is given six or more business days in advance. Notification of less than six business days will result in a credit that can be applied to any Lorman product or service. If you do not cancel or attend, you are responsible for the entire payment.

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