Avoiding Fringe Benefit Pitfalls: Tax Traps, De Minimis Rules, Correction Procedures, Fiduciary Risks
Structuring Fringe Benefits; Methods for Avoiding Dangerous and Costly Benefits Issues
Note: CPE credit is not offered on this program
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course will guide benefits counsel and advisers on recent rules and regulations in providing fringe benefits to employees and avoiding dangerous and costly issues that arise regarding such benefits including personal liability under ERISA. The panel will discuss key considerations in structuring fringe benefits, tax traps, de minimis rules, effective correction procedures and methods to minimize fiduciary risks.
Outline
- Key considerations in structuring fringe benefits
- Understanding the de minimis rules and avoiding tax traps
- Methods in minimizing fiduciary risks in administration
- Effective correction procedures
Benefits
The panel will review these and other key issues:
- Challenges in structuring effective fringe benefits programs
- Understanding tax provisions impacting fringe benefits
- Differentiating taxable versus non-taxable fringe benefits
- Implications of Section 409A
- Penalties for noncompliant fringe benefits programs and best practices to avoid them
- Fiduciary liability for breaches
Faculty
Carol V. Calhoun
Counsel
Venable
Ms. Calhoun is a member of the firm’s Employee Benefits and Executive Compensation practice. She has more... | Read More
Ms. Calhoun is a member of the firm’s Employee Benefits and Executive Compensation practice. She has more than 30 years of private practice experience with employee benefits and insurance product taxation matters, including qualified retirement plans, health and welfare arrangements, executive compensation, and insurance and annuity products. She has significant experience with standard pension plans, the full array of government plans, excess benefit plans, 401(k), cafeteria/flexible spending, and a wide variety of welfare plans. Her clients include states, localities, and international organizations regarding their benefit plans.
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Chelsea Deppert
Atty
Fisher Phillips
Ms. Deppert provides practical guidance to employers on the technical aspects of the Employee Retirement Income... | Read More
Ms. Deppert provides practical guidance to employers on the technical aspects of the Employee Retirement Income Security Act (ERISA) and other state and federal laws impacting the design, implementation and ongoing compliance of employee benefit plans and programs. She advises clients with respect to all aspects of employee benefits, including retirement plans, health and other welfare benefit plans.
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David McFarlane
Partner
Crowell & Moring
Mr. McFarlane is a partner in the firm's Corporate, Health Care, Tax, and Labor & Employment groups in Crowell... | Read More
Mr. McFarlane is a partner in the firm's Corporate, Health Care, Tax, and Labor & Employment groups in Crowell & Moring’s Los Angeles office. He has more than 20 years of experience in the U.S. and Canada advising on pensions, employee benefits, executive compensation, national and international corporate transactions, bankruptcy reorganizations, securities laws, corporate governance, deferred compensation, and structured finance matters related to the Employee Retirement Income Security Act (ERISA), the Internal Revenue Code, and the Affordable Care Act (ACA).
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