Compliance July 16, 2013
IRS to Teach About Internal Controls
The Internal Revenue Service (IRS) is hosting a phone forum about good internal controls.
Reported by PLANADVISER Staff
Attendees will learn how effective internal controls are essential to preventing costly mistakes that could jeopardize a retirement plan’s tax-favored status.
During the forum, the agency will share the importance of good internal controls, provide examples of controls and show how they can prevent certain recurring errors. The IRS will also discuss how it evaluates the sufficiency of a plan’s internal controls during an audit.
The phone forum is at 2:00 p.m. EDT on August 8.
More information is here.
You Might Also Like:
Breaking Down the DOL’s Fiduciary Rule
The final rule explicitly excludes educational materials and at least one trigger for fiduciary status, but most of the original...
DOL Issues Final Retirement Security Rule
The much-anticipated fiduciary rule brings retirement plan advisement, one-time rollovers and annuity recommendations under ERISA.
Su Defends DOL Budget Request at House Hearing
The pending retirement security proposal was not a focus, and only one Congressman asked about it.